Not every business insurer sells every type of insurance. This will narrow your options once you’ve determined the types of business insurance you need. But you may also be limited by the following:
Not every insurer sells insurance in every state, and insurers may sell certain types of policies in certain states only. For example, Hiscox doesn’t provide coverage in Alaska, and business owner's policies are unavailable in several states.
Make sure each insurer’s policy provides enough coverage. If you need extra insurance for specific assets or situations — for example, data breaches or liquor liability — you can eliminate companies that don’t offer those options.
If you need several different policies, you may need to buy them from different providers.
Some big-name insurers don’t underwrite all the commercial policies they sell. You might buy a policy from Progressive or Geico, for example, but the coverage might come from another company. That’s important to think about if you want all of your policies to be with the same provider.
Get more information about some of the major business insurance providers here:
Getting quotes from several different commercial insurance companies can help you find the best coverage at the best price. Here are some things to consider when looking at insurers’ quotes.
You can shop for quotes online or by phone, or you can work with an insurance agent or broker to find the cheapest business insurance for you. Whichever route you choose, make sure to compare policies with similar coverage and deductibles.
To get a quote, you will have to provide some basic information about your business, including its name, number of employees and ZIP code. Some insurance providers can generate a quote online, but others may require you to talk to a human in order to get a quote.
Rates vary dramatically because no two businesses are the same and each insurer uses its own formula to calculate premiums and discounts.
Be aware that a business insurance quote is an estimate only. The price may change if an insurance company checks out your business and determines you need a different amount of coverage.