How mich business insurance real cost

Whether your grand opening is this weekend or it was way back in the last century, it’s important that your business is fully covered.

Our independent insurance agents shop and compare policies from multiple carriers to find the perfect coverage for you. That means protection AND price. And since no two businesses are alike, they’ll make sure your unique needs are locked, loaded and ready for whatever may come.
We’re here to help simplify your search. But we can’t just say, “That’ll be $5 a month, will that be cash or check?” We can, however, give you a little background on business insurance rates and how they’re calculated to get you started.

How Business Insurance Costs Are Calculated
The insurance company’s number crunchers start by reviewing a list of various risk factors (things like size, location, etc.).

Each of these risk factors has a cost associated with it that is determined through studies of historical trends or analytical models (boy, it's getting really scientific in here). Then they begin checking off the factors that apply, add them all up, mix in a pinch of profit margin to taste and—voila—your rate is served.

What Is Business Insurance and Why Do I Need It?
Business insurance is a contract between a business and an insurance company. This contract basically states that a business will pay their premium and the insurance company will help replace, repair or recover your business’s covered possessions if they are ever lost, stolen or damaged.

Coverage is important to protect your business from all sorts of bad stuff that happens nearly every day, like:
• Losses: In the event theft or damage
• Legal things: In the event of harm caused to a third party by your products/services
• Oopsies: In the event of a professional mistake that causes harm/destruction
What Kind of Business Insurance Coverage Do I Need?
Owning a business can be rewarding, but it can also be a real nail-biter if you’re a bit of a worry wart. To put your entrepreneurial anxieties to bed, you’ll want to discuss your specific business needs with your agent. Here’s a few of the basics you’ll cover, before getting into a more finely tuned policy:
• Property Insurance: protects the building and its contents, whether it’s from an employee mistake or a hurricane
• Liability Coverage: protects you if you’re sued. It doesn’t matter if you’re a beauty salon or a bubble wrap factory, one accident could cripple you with medical bills and legal fees.
• Workers' Comp: ensures your business complies with the law. Employees must be covered in case of injury on the job, or illness suffered due to their work.
What Factors Influence the Cost of My Plan?
When the insurance company is checking off their list to calculate your rate, they’re reviewing things like:
• Your business's classification.

• Your business's goods or services
• Your business's employee numbers
• Your business's salary totals
• Your business's day-to-day life (what your employees do when they're not checking their email)
• Your business's risks (i.e., heavy lifting, tornado chasing, etc.)
• Your business's stuff i(.e., buildings, vehicles, equipment and supplies) and their values
• Your business's sales reports

• Your business's location