Your business insurance is an important part of your risk management program. It is important to have the right insurance coverage, competitive pricing and the right insurer. We have found at least five factors that are important to manage when renewing your business insurance program.
A business insurance program can include commercial property, auto, commercial liability, employment liability, workers’ compensation, professional liability and excess liability.
Insurance Renewal Tips
- Provide complete information about your operation. Paint a picture that describes what you do and how well you do it. You have to sell the underwriter on what is different about your operation and how the insurance company needs to insure your risk, because you are above average.
- Suggest a meeting with a few of the underwriters. This will allow them to see your operation firsthand. This is most effective with large property risks.
- Use an independent agent. We are best equipped to provide you with the best combination of coverage, price and service.
- Combine your property, auto and liability with one insurer if possible. You will receive package discounts.
- Have a well-managed safety program.
Putting a little effort into your business insurance renewal can reap rewards in the form of better coverage and lower premiums.