04 Dec Top 3 Reasons to use a Commercial Insurance Broker
1. Commercial insurance IS the business of a commercial insurance broker
There is a reason that in order to sell insurance you need to have a license. Its complicated. Its more than just trying to get the right price. The job of an insurance broker is to analyze your company and expose potential risks. There might be real risks that you never thought about. Life happens and you want to make sure that you are prepared for unforeseen circumstances. The primary benefit of using an insurance broker or broker is that they know what they’re doing. Like any business, there is more to it than what meets the eye.
Your business may not need all commercial coverage lines. Your insurance broker will help guide you and inform you of what types of policies are necessary for your business.
2. Using an insurance broker can save you money.
In most things in life, going direct to buy something is often the cheapest way but when it comes to commercial insurance its rarely the smartest way. Companies that sell commercial insurance directly often care about their bottom line and not what is best for the business. In the end, it is the insured’s responsibility to have adequate coverage. An insurance broker represents multiple insurance companies and can find the most cost effective solution.
More importantly, insurance companies give better deals to agencies. Why? Because insurance brokers are trained to choose the appropriate policies and to make sure that the client isn’t under insured. Thus, fewer superfluous claims are filed.
3. A mistake can cost you more than just money
Whether large or small, if you’re in business then you need insurance. Anyone can get sued including corporations. Having a proper commercial insurance plan in place can help manage risk, provide security and peace of mind. Being under insured and then getting sued can destroy a company. Not obtaining adequate coverage could ultimately cost you your business.
Using a commercial insurance broker like Bozzuto Insurance Services will allow you to have an insurance broker that knows your company, knows what your risks are and knows how to save you money. Visit our commercial insurance page to learn about some of the different types of commercial insurance policies that many companies need to mitigate risk. Or better yet, get a free quote or give us a call with your questions.