Questions to Ask Your Business Insurance Agent
If you’re new to purchasing business insurance, the process can seem a bit daunting. That’s why here at Centro Hispano we have a number of agents to help you every step of the way. Below is a list of questions as well as reasons why they’re important that you can ask your agent.
What types of business insurance do I need?
There are different types of business insurance best suited for different companies. Some are required, but not all. They include, but are not limited to:
General Liability Insurance
Commercial Property Insurance
Business Income Insurance
Workers’ Compensation Insurance
Professional Liability Insurance
Cybersecurity Liability Insurance
Commercial Auto Insurance
Commercial Umbrella Insurance
Key Person Insurance
Speak to your agent about what lines of insurance are best for your company. You can review our article here on different types of business insurance here!
What are the insurance policy’s limit and coverage limits?
Once informed about different insurance policies that suit your needs, ask your agent about the policies’ coverage limits. What’s the maximum payment that the policy covers in a year? What does and doesn’t the policy cover? Being fully aware of the limits of different policies will help you make the best choice when selecting your plan.
How much coverage do I need?
Either over or under insuring can cost you more money than is needed in the long run. That’s why it’s important to ask your agent about how much coverage you need. They’ll help you evaluate the right amount of coverage you need at the best price.
How Much Does Business Insurance Cost?
Understandably, cost is going to be one of your biggest concerns when selecting a plan. Premiums and other costs can vary from one company to another, with many factors influencing this such as how much risk is expected in your line of work and how much is at risk. That’s why this is another important subject to discuss with your agent. Small businesses tend to cost less.
We’ve also put together tips for saving on business insurance, which you can read about here!
How and when do I file a claim?
This is an important question because your biggest reason for getting business insurance is to be covered in unforeseen events. So even though it can be intimidating to file your first claim, you want to be prepared. The sooner you open a claim with your insurer, the faster it can be resolved.
What Benefits Will I Receive?
When selecting a policy, you want to ensure that it offers as many benefits as possible. To do this, you should ask your agent about the benefits and clarify any doubts you may have. Usually, there are documents or brochures available outlining the benefits. You can review these in your free time so you have a full understanding of the benefits and are also able to ask relevant questions when you return to the agency.
What if I Can’t Pay the Premiums?
Circumstances in life change, and when an unexpected event occurs you may find yourself in a situation where you aren’t able to pay the premium. What would happen then? Often times there is a grace period, but if you go too long without paying you can lose your policy. Speak to your agent to review the needed steps to take and the options you’d have.
Ready to speak to an agent? Centro Hispano is always here to help! Call us today and we will gladly assist you.
