Insurance Marketplace, Inc Blog
If you thought that the lowest small business insurance premium is the best deal, think again. There are several factors other than the price that will make or break a business insurance policy. You need to learn how to understand insurance quotes and ask questions if you find anything unclear. Here are some techniques to help you out.
Check All The Details In Your Quote
Spend time checking the details of an insurance quote. Find out what kind of policy to look for and what coverage this policy offers. Usually, a business owner’s policy quote has the following limits:
Your business insurance quote may also include specific explanations of whether the policy is according to the requirements of your client’s contract (if this applies). Finally, look for keywords that pertain to your policy limits as well as your coverages.
Terms like an aggregate limit, which is the total amount that your policy will cover for the claims in a period and the per-occurrence limit, which is the highest amount your coverage will pay for a claim are just common examples.
Compare Quotes Before You Take One
If you’re looking for general liability insurance and you get quotes for a BOP or a business owner's policies, property insurance, and other policies, then you must compare these to get the best rates and coverage. Offers may vary from one business insurance provider to another, so read the policy carefully to understand what you’re getting.
Should You Pay Now Or Later
Usually, at the end of a quote, you’ll get some lines that pertain to payment options. Options for single, two, four, or ten payments are usually offered. Consider a one-time payment option if you want to save money, while two to ten payments may not be too expensive per month but can mean a whole lot when you add them up.
If you can pay your insurance premium in one go, then do so. It’s one less thing to worry about month after month. But if you don’t have enough money then paying two to ten installments could be a better option.
Company Name Meanings
Seeing other company names in your quote or policy is nothing new. These companies are insurance providers or companies that issue policies. A rating under a particular provider describes the company’s financial strength and its ability to meet long –term debts and obligations.
At Insurance Marketplace, Inc., we do our best in making sure that our clients are well-protected with affordable and comprehensive policies. We make sure to go the extra mile to help you with your needs. To learn more about how we can help you, please contact our agency at (541) 779-0177 or Click Here to request a free quote.