How to Buy Business Liability Insurance On-Line – The First of a Three-Part Guide

You can find general liability insurance quotes for your business, whether you’re an existing business owner who wants to update policies, or an aspiring small business owner looking to purchase insurance policy coverage. It is now possible to compare quotes from many insurance companies simultaneously, thereby ensuring that you find the lowest monthly premiums for the protection you need. Although this freedom is possible via the internet it does come with its own set of challenges.

Fortunately, by using a comparatively-straightforward procedure, you can find the competitive insurance quotes you want, for the perfect amount of coverage, without encountering many of the pitfalls frequently encountered while shopping on the web. This is the first of three articles that will help you navigate this process step-by-step. It will also allow you to join small-business owners who have made significant savings and increased their coverage by purchasing liability insurance online.

A few thoughts on insurance brokers and agents

It can be difficult for the average buyer to determine all the liabilities associated with his business and to identify an insurance plan that adequately insures them. This fact causes many independent shoppers to over-insure their enterprise (and in so doing, spend far more in premiums than is necessary) or, worse still, under-insure their company and buy insurance policies with potentially-devastating gaps in coverage.

Before purchasing general liability insurance online, it is strongly advised that you speak with an insurance broker or agent who is knowledgeable in your industry to help you choose the right policy. This is a simple way to ensure that the plan provides the right coverage for your company’s current and long-term requirements. Many web-based insurance companies have professional agents that match these requirements and can be reached during the quote process.

Get Ready to Request Liability Insurance Quotes

In order to use your time efficiently, and get the best results while looking on-line for general liability insurance, you will want to do a little homework upfront. To ensure that you are comparing apples to oranges when comparing quotes from different insurance companies, it is important to begin your search by listing all the details about your business that will be required for each quote. This will guarantee that all quotes will be for the exact same coverage and in the same quantities.

Following is a listing of information that insurance companies generally require. It is important that you provide as much detail as possible to ensure that your quotes reflect the correct type of coverage and limit.

• The kind of business you operate

• Where your business is located

• Your company’s latest and projected revenues and payrolls

• The present and expected number of employees in your company

• Your business’ past claims and losses record (if relevant)

• Specific information on your business’ existing insurance coverage (if relevant)

• Your individual identification, including Social Security or Federal Tax ID number

Requesting General Liability Quotes

After you have completed the necessary prerequisite details, you can start your search by contacting three to four insurance companies online or comparison sites. These will give you an idea of the range and prices available.

Next, fill out the online request-for-quote form and send it to each company. Expect to be contacted via email by the insurance company with any questions. Be sure to answer these inquiries accurately and fully. It is important to start getting quotes so you can compare them as soon as possible.