Business owners must have some type of insurance. Most states require any business with employees to purchase workers’ compensation and unemployment insurance. Requirements may also vary by industry. For example, a real estate agent with a car is likely to have to pay for commercial auto insurance. If you have a business, you need to ensure that it is adequately protected against common risks and unforeseen events. Before doing so, it is a good idea to compare quotes from commercial insurance companies.

The location of your business and the industry you are involved in play an important role in the types of quotes you will get. It is clear that some industries are considered more “dangerous” than others. For example, a business that primarily involves everyone staying in an office will not need as much coverage as a construction business.

General Business Liability (GLC) may not cover 100% of all possible risks that an organization may encounter during its useful life, but it does generally cover the most common types of risks. Some business owners choose to purchase additional insurance, such as protection against defamation lawsuits and job liability (wrongful termination or discrimination).

And the robbery? Commercial insurance companies generally only offer theft protection for third-party losses for which a business may have some sort of liability. If you want coverage for your commercial property, you may have to pay more to have it included in your policy.

Payment options used by common commercial insurance companies

What kind of payment options do you have? How you will be charged and how you are expected to pay will vary by insurance company. Before deciding on a quote, check to see if you will be able to pay with your preferred method, be it MasterCard, Visa, etc., and if you can pay the full amount annually or just once a month. If you don’t want to pay in full, be aware that some commercial insurance companies may charge additional fees for overtime. Not all of them do, however, so take the time to carefully read the payment requirements and the fine print.

Another thing you can do is find out how the claims process works. If you ever need to report a claim, the process must be available 24 hours a day, 7 days a week. All that should be required of you is that you contact the insurance company to make the report, and the representatives should immediately begin their defense. If necessary, your insurance provider will appoint an attorney on your behalf.

Of all the commercial insurance companies, is there one that is truly reliable and offers all of these services at an affordable price? Hiscox Business Insurance reviews are almost always guaranteed to be positive. It is definitely worth considering. Request a quote on the website or call 1-866-283-7545 to speak with a licensed small business insurance agent.