Business Insurance for New Businesses
Insuring a New Business' Success
Since this blog is brand new, I felt it made sense to cover something new. If you've finally made the leap to become an entrepreneur, congratulations. It takes guts and a lot of risk to strike out on your own instead of following the herd. Chances are when you were incorporating your new company, the subject of business insurance came up. Then you probably hopped on google and searched for Business Insurance Connecticut or something along those lines and arrived here. To better serve anyone that contacts us about securing insurance coverage, here are a few tips and pointers on how to expedite the process:
1. Buying commercial business insurance is not as fast, easy, or simple as buying a homeowners or personal auto policy. There are many more working parts in a commercial general liability policy, and the more info you give us up front, the easier and faster we can help you. What do we mean by more info? Give us more than your name and your phone number. Give us the most detailed explanation you can of the nature of your new business, what kind of work you will be performing, whether you will have any employees or not, and whether you will be occupying a new building or just working from home.
2. If we get to the stage of quoting, please be prepared for a few rounds of question asking (more commonly referred to as underwriting). These aren't questions aren't meant to make you feel uncomfortable or for you to feel like you don't know what you're talking about or getting into. In order to secure the best coverage at the best price for your new business, we need to know as much as we can about it. As I mentioned above, commercial business insurance isn't as easy as calling Geico and getting a quote based on the year, make and model of you car, and what zip code it will be garaged in at night. We wish it could be this easy, and someday we hope it will be, but for now, we need to work together and dig deep to put the best program together to cover all the risks that your company might face in its first year in business.
3. Pricing: This isn't something we can tell you when you call us the first time. We have a general idea of what certain lines of insurance cost for certain types of ESTABLISHED businesses. However, for startups and new companies, the pricing will depend on how thoroughly you answer our questions. More questions don't equal more premium. More questions give us the ability to put together the right type of coverage to cover your business. After the blood, sweat, and tears you put into starting your company, we'd hate to see it all go down the tubes overnight because of a weak insurance policy with the wrong coverages to protect your company and investment because we didn't dig deep enough to cover you correctly.
We're here to help protect your business. With your help and honesty, we can protect it better than anybody for anything that might happen to it.
