Four Steps To Get a Professional Liability Insurance Quote.

1. Understand where your business is at risk.

• Do you own a coffee shop with a shiny tile floor that can become slippery if coffee spills on it?
• Do you have company representatives going into other businesses where they may cause damage?
• Are your employees doing work that may injure them?

2. Evaluate the likelihood of potential risks to determine if you need business liability insurance quotes to include coverage.

• You have slippery floors and sell coffee. You have a skeletal staff so floors aren’t constantly monitored. Is someone going to slip and fall? Probably.

• You sell coffee at a drinkable temperature, give free refills, and always “wrap” the coffee in brown cardboard covers. Will you get sued like McDonald’s did for there infamous coffee? Probably not.

3. Understand the consequences if a risk actually occurs and you don’t have insurance.
Is the business in jeopardy? Are you personally liable? Are there criminal consequences?

4. Take advantage of insurance agents.

The answers to the questions posed, and many others simply can’t be answered here. Risks and responsibilities vary with each situation and location.So USE insurance agents.

Agents are expected to be competent in providing you the information you need to be properly covered. They should be certified in the particular type of insurance you require and, in most states,  licensed.  There are several independent organizations which provide training and certification for agents. Make sure and ask if the agent you are talking to is certified and licensed. Most states have some form of on-line information about licensing.Remember, talking to them doesn’t obligate you to buy from them. Talk to at least three – and, initially, don’t tell them you are talking to others.Tell them about your business. Ask them what coverage you need. Get business liability insurance quotes form each.

Evaluate the quotes. Are there coverage differences? Are there cost differences?The reps will certainly be following up to get your business. Now’s the time to let them know you are shopping. Have them come in and explain differences in coverage or costs. Get new business liability insurance quotes from each.

Follow these four steps and you will end up with professional liability insurance that provides the right coverage at the right price.