Small Business Insurance Mistakes and Myths

Any business, small or big, must protect itself from the unknown.  While larger companies might have room for error, unfortunately, small businesses do not.  That is why Small Business Insurance is crucial.  In order to ensure that your company will have a prosperous and successful run, small business insurance is a must.

Making the right decision on which insurance coverage to buy is critical but face it, not all of us are experts, working in the field.  IQO does want to help you feel more comfortable purchasing insurance by highlighting three misconceptions people make about small business insurance.  Here they are.

Having More Than One Agent is Beneficial

On the contrary, having more than one dedicated agent will cause discrepancies, and create gaps in coverage.  A prime example of this would be having an agent who manages everything so that crossover between liability and auto policies can be identified.  This will save you more money in the long run and reduce the time spent communicating to each agent.

Having The Lowest Premium is the Best Choice

This is one of the most common misconceptions.  A premium is determined by coverage and exposure.  If you are covered more, most likely you will have a higher premium.  Consider all the factors when choosing your plan so that you get the appropriate premium and the appropriate amount of insurance coverage.

National Companies Provide Better Plans and Services

Larger companies have one thing over their competition for sure, Marketing Budgets.  Don’t fall into the advertising traps.  National Agents can only explain the benefits of the company they work for.  They can’t shop around and find the right combination of price and coverage for you.

Your business is important.  Accidents happen, whether it be a fire, liability claim, or workers comp claim, it’s important that your business be protected by having the right type of Small Business Insurance.  Contact one of the IQO professionals today and make the right decision.

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