Buying Commercial Insurance on a Financial Shoestring

Business owners are always trying to do more with less, especially when they are just starting out and are operating on the proverbial shoestring–they have to, in order to maximize their profits. In the early days, it’s easy to see such owners buying generic bathroom tissue and munching on homemade sandwiches for lunch rather than buying takeout from the Chinese place a few doors away, no matter how good it smells. Thus, it stands to reason that these folks are also going to be on the lookout for cheap commercial insurance as well, realizing the necessity of the coverage yet unwilling to pay a penny more than they have to for it. The lesson to learn here is that using the expertise of a professional insurance agent can really help these budget-conscious owners.

What can an agent do to help

A licensed, professional agent has access to a wide range of coverage from a variety of providers. He or she can ensure that owners are looking at the right mix of options based on the exposures that are most prevalent to that business specifically and the industry it’s a part of in general, based on a careful assessment of the operation. He or she will also review your existing policies to identify gaps in coverage, under- or over-value on policy limits, and evaluate whether your selected deductions make sense for your company.

Don’t wait too long

To give your agent the time necessary to conduct an assessment and obtain competitive quotes, you’ll want to start working on any coverage replacements at least 90 days before it is due to expire. This will give your agent plenty of time to amass your options and share with you the pros and cons of each one, and give you plenty of time to review the information, ask questions, and decide which way you want to go.

Contact your professional insurance agent to day to learn more about purchasing cheap commercial insurance for your business; coverage from a reputable insurer that will be around to pay a claim should one occur, but at a reasonable, affordable price that won’t bust your wallet.

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