If you own a small business, you need business insurance. That might seem like pretty obvious advice, but 44% of small businesses have never purchased any business insurance, even after operating for over a year! Those companies took a huge risk and if they didn’t purchase insurance after that first year, it would be surprising to see them lasting any longer.

 The reason why many owners don’t purchase insurance is because the process and options available for businesses are numerous and very confusing. Insurance needs change based on size, location, and industry. The process can become overwhelming. But it doesn’t have to be!

 By breaking down the process into smaller parts, the process of buying business insurance becomes simple.

 The first step is to make a game plan. You need to know what insurance is common in your industry. There are some insurance policies that are required (like workers’ compensation) and others that might be helpful (like professional liability insurance). Gather all the pertinent information about your business and come up with a list of what you think you might need.

 Next, go to your insurance agent. In this case, Entrust Insurance! We can help gather quotes from a variety of insurance companies to find a price that works for you.

 Once we gather the quotes, take this time to ask questions and look over all the details. Remember to check deductibles and premiums as well as policy limits. Higher deductibles mean lower premiums, but that also means you will pay more out of pocket before the insurance steps in. The plan you created in the beginning should help you consider how much you could pay per month and how much you could pay out at one time.

 The final step is keep your policies current. Expansions of your business in any area, may require a reworking of your policies. If you launch a new product or open a new location, come back to us to check your policies and find out what you should add or how you can expand your current policies.