As a small business owner, you know that you need to find affordable small business insurance that protects your company from risk, and provides benefits to your employees. However, in this economy a small business needs to stay competitive. You want the best possible small business insurance at the best possible rate. So, why should you use an insurance broker?
An insurance broker works for you, not a company
An insurance broker is an independent agent, who works for you and not any particular insurance company. A broker’s job is to look at your small business situation and help you figure out what sort of insurance would work best for you. Because a broker is not tied to any particular insurance company, they can help you find the best type of policy for your individual situation.
An insurance broker helps you sort through options
There are many types of small business insurance to consider, for example:
- Errors and omissions insurance
- Property liability insurance
- General liability insurance
- Employment practices liability insurance
- Workers compensation insurance
- Business interruption Insurance
- Disability insurance
- Life insurance
- Health insurance
- Vehicle insurance
Of course not every small business needs all types of insurance. However, the financial stability of your company may depend on you getting enough of the right kind of insurance for your type of business. Sorting through the different sorts of policies from different companies is difficult and complicated.
A small business insurance broker is familiar with many different policies from different companies. They are also familiar with what kinds of insurance different types of businesses need. An insurance broker can explain the purposes of different types of insurance and help you decide what insurance you need for your small business.
A small business insurance broker is an expert
As a small business owner, you are used to doing things on your own, but some tasks are better left to an expert. Just as you hire an attorney to do legal work, and an accountant to take care of your finances, an insurance broker is an expert at handling your insurance needs.
The purpose of insurance is to transfer risk to keep your business financially secure. So you need to make sure you get the right type of insurance for your business, and the best possible policy at the best possible rate. An independent insurance broker who has experience in small business insurance is in the best position to help you sort through your insurance options to get the policies you need.
An insurance broker can get you the best policy at the best price
Different insurance companies offer similar types of policies, but all policies are not the same. An insurance broker can help you evaluate which policy offers you the best protection for your particular business. They can also help you avoid choosing a policy which might involve you taking on risks you want to avoid. Moreover, an insurance broker can help you in the application process, so that your application for insurance goes more easily and so that you know what sort of information you need to provide in order to get the best possible rating from the insurance underwriters. That will help you not only get the best small business insurance, but also to get insurance at the best price.
The bottom line
If you want to protect your business and provide for the insurance needs of yourself and you employees, a small business insurance broker will help you do that more efficiently, effectively and economically.