Steps To Getting Business Insurance

If you are a business owner, one of the most important steps you can take is to research, then purchase, the right kinds of insurance. Just like renters/homeowners insurance, auto insurance, etc., business insurance is one of those things you’d rather not deal with but, guaranteed… the worst can and will happen if you don’t! All it takes is one frivolous lawsuit or disgruntled client, and a lawsuit can take down everything you’ve worked for in a heartbeat.

Yes, getting business insurance is a crucial step for business owners. There are numerous types of insurance that businesses should look into, some of which depend on the business itself. If you’ve never had to shop for business insurance before, you may not be aware of how to go about doing so. We’re going to list some simple steps to make it less troublesome.

Risk Evaluation

Where your company is concerned, to figure out what types of business insurance are appropriate, determine your business risks. As an example, owners may face the following risks:

  • Bodily injury
  • Food spoilage
  • Cyber attacks
  • Dissatisfied client lawsuits
  • Property damage
  • Customer injuries resulting in lawsuits

As the owner of your business, come up with a list of issues that concern you. This will better enlighten you as your business needs and which types of insurance policies will be appropriate.

Business Insurance Research

Various types of protection are offered by different insurance policies where businesses are concerned. To protect yourself against lawsuits, you may choose liability coverage. If you own a business property, you may choose property insurance. Ask an insurance representative about the following for advice:

  • Workers’ compensation insurance (this is a requirement for businesses with employees in most states)
  • Professional liability insurance
  • BOP (business owners policy)
  • General liability insurance
  • Commercial auto insurance (if you have one or more company cars or use personal vehicles for business)
  • Cyber liability insurance (in case of data breach)

Getting Quotes

Today, with everything on the Internet, it’s easier than ever to compare quotes between insurance companies. Whenever you can, only use a quote application you can fill out for free. The application may ask for information such as following:

  • Estimated annual revenue
  • Business assets
  • Number of employees
  • Your business location

Either ask an agent for advice or select the insurance products that interest you.

Quote Comparison and Purchase

Okay, you have your quotes. We know you want to save money, but before you grab that cheapest policy, STOP! In the long run, you could end up costing yourself and your company more if you purchase inadequate protection.

What to look at during comparison:

  • The insurance provider’s rating
  • What liability insurance covers
  • Deductibles, limits, and other insurance options

Make sure, for your risks, you pick the right coverage and, in case of a lawsuit, the policy has limits that can pay adequately for your representation. Changes may need to be made as your business grows.

Now That You Have Insurance, If You Make a Claim… Count on Stone Claims Group

With your business insurance in place, there may come a time when you have to make a claim. If and when that happens, before you do anything else, check to see what the experts at Stone Claims Group have to say.

To push your claim forward, with our combined talents, we provide continuous communication, offer multiple strategies and perspectives, and pay close attention to detail. Our areas of expertise extend to appraisal services, public adjusting, preliminary inspections, umpire services (to help settle claim disputes), and more.  Feel free to check out our FAQ page for answers to some of the most common questions.

To find out whether Stone Claims Group can be of assistance to you, click free claim review or give us a call at 1-800-892-1116. You can also email us at


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