How to Compare Quotes and Find the Right Commercial Insurance Providers

Getting proper coverage for your business begins with finding the right commercial insurance providers. Being an entrepreneur, you know that getting the best deal involves shopping around and carefully evaluating your options for the right match. Most insurance companies will offer quotes based on your requirements which makes it easier to compare your choices.

How to Compare Commercial Insurance Quotes

  1. Determine your needs: Begin by listing out the must-haves. In Mississippi, flooding and water damage coverage is important to protect against hurricane damage. Workers’ compensation insurance is mandated by law. There are exceptions which your insurance agent/broker can explain. A Business Owner’s Policy (BOP) which covers general liability, such as, if a client is injured on your premises or an employee causes an accident on theirs, is a necessity. As is Professional Liability or Errors and Omissions Insurance coverage. Employment Practices Liability Insurance protects you against employment malpractice claims. Knowing what you need is key to effectively managing your risks.
  2. Get at least three quotes from different insurance providers: This will enable you to make a proper comparison of coverage and rates. Working with an insurance agency can save you time and money as they will shop around for you.
  3. Know what is included and excluded: Never go just by the premium; the type of coverage that is being offered is more important. A low premium can also mean less coverage; so it is critical for you to determine the inclusions and exclusions in each policy. Limits and deductibles are two other important factors that will need your attention. These determine how much compensation you will get (limit) and how much you have to pay.
  4. Discuss your requirements with a reliable insurance broker: As brokers, we are not affiliated to a particular insurance provider and will provide unbiased advice. Talk to our team at The Nowell Agency about your requirements and do not sign up for anything till you are fully satisfied.

Tips to find the Right Commercial Insurance Providers

  • Credentials are important: In addition to being licensed insurance brokers or agents, you want to examine quality of service. This is where referrals can help. Also make it a point to look at their website and online reviews. A professional site not only provides proper information about the company and its services but also educates clients.
  • Customized plans: The right provider is one that matches the right product to your needs. This often involves customizing plans to meet your unique business requirements.
  • Competitive pricing: An established insurance broker has strong relationships with leading carriers and the ability to provide special rates. Competitive pricing is, therefore, an indication of the broker/agent’s experience as well as exposure.
  • Meet with them: There is no substitute for an in-person meeting. It gives you a feel of how the insurance professionals work and whether or not you are comfortable dealing with them.

Meet Our Experienced Commercial Insurance Team Today

At The Nowell Agency, our brokers are committed to finding you the right coverage at the best rates. We offer risk assessments to help business owners identify their needs and expert advice on how to reduce your liabilities and expenses. You will receive multiple quotes plus our input on them, so that you can properly compare policies and make the right decisions for your business. Meet with one of our friendly, knowledgeable brokers today to discuss your commercial insurance options.

Request a quote for commercial insurance in Mississippi or call 888-434-9571 to schedule a meeting with a knowledgeable and experienced broker at The Nowell Agency.