Chelsey Tucker graduated with a Bachelor of History degree from Metropolitan State University in 2019. She now writes about insurance with her specialty being life insurance and has been quoted on Help Smart Phone and MEL Magazine.

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Dan Walker graduated with a BS in Administrative Management in 2005 and has been working in his family’s insurance agency, FCI Agency, for 15 years. He is licensed as an agent to write property and casualty insurance, including home, auto, umbrella, and dwelling fire insurance. He’s also been featured on sites like

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Reviewed by Daniel Walker
Licensed Auto Insurance Agent

UPDATED: Mar 19, 2020

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good businesss insurance agency

“What is a good business insurance agency?” is the question that we must all ask ourselves at one time or another when we own a business. Based on the nature of your business, insurance costs can represent a critical and expensive element of your overhead.

Save time and money by comparing business insurance quotes online. Simply enter your zip code above to begin!

Just ask the troubled business owner down the street, who filed a claim with a substandard insurance company, and is struggling to recover, if they ever do!

Practical Guidelines to Finding the Right Agency

Here is a tried and true strategy for identifying a top choice agency. It might take some time, but make the effort. It can make the difference between success and failure.

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Know What You Are About

Identify the elements of your business and how they relate to each other.

  1. Know what material needs you have. What type of structures do you operate out of and what kind of equipment, such as vehicles and tools do you need to replace if necessary? If you are renting your facility, replacement insurance may not be necessary for the property, just your equipment.
  2. What liabilities are you subjecting yourself to when you operate your business? This can include damage to your equipment, custom
    ask questions

    er injuries if you have floor traffic or the chance of someone falling off a customer’s roof. Make sure you check and double check.

  3. Will you have the proper insurance to cover your employees such as workers compensation, health, and life? Employees make or break your business.
  4. Does your business need insurance for catastrophic interruption such as a destructive fire, or act of God? This could permanently destroy your business if you have no income.

A prospective insurance product must clearly satisfy the real needs of your business to be successful and is the key criteria in finding the right insurance agency. Make sure the agent can explain their products in detail. If it does not fit, do not buy it.

Ask! Ask! Ask!

– Check out company credentials. Is the insurance company located in your state and are they registered? If they are selling through another company registered in your state, you might have problems down the road.

  1. Keep in mind that different companies sell different policies. If not registered in your state, their policy could be lacking essential underwriting elements that are required by state law. That could create problems if you have a claim.
  2. Not all states allow equivalent underwriting of a policy. For example. Not all states allow no-fault auto insurance. Make sure the insurance policy covers your needs. When in doubt, check with your state’s insurance regulator.
  3. Deal with someone you can see, touch, and feel! If they are too busy to analyze your needs, they will be too busy to resolve your claim later.
  4. If you really want a heads up, check out your professional business association especially like size business in your category. They will be more than willing to tell what their experiences have been.

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Don’t Underestimate

Too many business owners substantially underestimate the cost of recovery of their business losses. An agent or broker who can see your operation first hand can tell you what it takes. “That is what I meant”, does not count later on.

Brokers tend to be more knowledgeable as a whole than an agent and can offer a broader perspective, especially for a more complex business. That might add up to a higher premium cost. On the other hand, some agents are intimately familiar with a narrower spectrum of products they have handled forever. They have a close working relationship with their providers, which can translate into terrific service.

One poorly handled claim or delay due to ineffective coverage can rain on your parade. Shop for price, service, willingness to discuss your needs, and comprehensive presentation of what you are receiving for your dollar. If they cannot or will not take the time up front, you will certainly not get it later. Make your choice between an agent and a broker carefully. There are exceptions to both.

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Stay in School – Read Those Books

read business insurance– Money does not grow on trees and ineffective insurance coverage can cost you big time.

1. Being educated about what is happening in the insurance industry can give you a heads up when it comes to planning your future insurance expenses.

2. Sometimes evolving government regulations affect the cost that an insurer must face. This can affect your bottom line. If you know what the trend is, sometimes you can negotiate a better annual premium when a contract renewal is due.

3. An informative business insurance magazine can contain valuable information concerning options available for your type of business that will enhance your coverage at little or no cost.

4. Some insurance companies get in trouble, raise rates, or go out of business after a long negative trend that a good trade magazine might point out in advance of the disaster. That disaster could include you. Be aware of what is happening.

Ask First Pay Later

When determining the insurance needs of your business, do not jump to any conclusions. Ask good questions and expect good answers. The above strategy coupled with the following dos and don’ts will get you a long way towards effective business coverage.

· Sit down with the key individuals in your business. Many heads are better than one.

· Have each department analyze their needs.

· If cost is an issue, then a consensus might be better than rash judgment.

· Be prepared for the insurance man with intelligent questions and basic knowledge.

· Do not go with your gut.

Only, common sense, tough questions, and facts will get you a good business insurance agency. If you are looking for the best insurance rates then enter your zip code below. Compare among all the top insurance companies to find the best possible deal.