Getting Business Insurance can be a fast and easy process or one of the longest, most tedious. Why is this? There are a number of factors. Let me tell you what it looks like from “behind the scenes.”
First you call us and say you want to see if you can get some better rates on your business insurance. We get on the computer and proceed to ask you questions about every aspect of your business. We usually run across a few questions that you don’t know right off hand and we’re stuck. We can start to filling in the two dozen or so forms but we can’t submit anything until they are completely filled out.
In personal auto or home insurance, 90% of people will fit into specific categories that a computer can authorize and issue a policy. In business there are too many different possibilities and judgements for a computer. Business insurance is handled by human underwriters. That’s why it’s important that we fill out the forms as completely as possible. Frustrating underwriters by not giving them enough information, is not good for business….yours or ours.
After we get all the forms filled out, we begin submitting them to different companies. If you have a simple business that any insurance company would be happy to insure, we could have a quote for you in a day or two. If your business is more complicated, has more parts to it or is considered more risky, it would look a bit more like the following description.
This description is for a “medium” size business. As I said, for a “small,” less risky business it could be as easy as car insurance. “Large,” even more complicated businesses can take 6 months to a year. If you know you have a complicated business with a large inventory or one that tends to be risky (for example- roofing), start checking on new insurance as soon as possible. Something to keep in mind when you look at your business insurance.
We are happy to help you out with your business insurance needs. If you would like to know if your business is one that could take some time, give us a call. We should be able to give you an idea of the timeframe.
Posted by: Lara Wilson, Mount Spokane Insurance - MountSpokaneIns.com
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