Tom's Blog
Running a business involves juggling many different responsibilities in order to maintain optimal business operations; however, when it comes to protecting your business, do you only factor in price because it may save money on the front end? Protecting your livelihood goes deeper than the initial pay out costs and what may seem to save money in the beginning can lead to financial disaster in the end if you aren’t careful. Price is important, but you need to know why price is not the only factor to consider when purchasing commercial insurance.
Other Variables to Consider
While price does come into play, there are more factors to consider when you purchase commercial insurance for your N.C. business.
Superior Customer Service- Customer service is a very important component. If your business suffers a loss, it is crucial to get the assistance you need when reporting the claim or with any questions regarding your loss. A timely returned phone call, a fair settlement, and prompt assistance with questions are all important factors to consider when things go awry. If your business experiences a loss, there is nothing more frustrating than dealing with an insurance company that has poor customer service.
Agent- Having a North Carolina independent agent that has experience, knowledge, excellent customer service, and good rapport with insurance carriers is optimum when considering business insurance. An agent that has a solid working relationship with different insurance carriers can typically get more underwriting consideration than an agent who has no experience or relationship with insurance carriers. A reputable, sound agent will work for you to get optimum business coverage at a reasonable budget.
Customized Business Package to Suit Your Unique Business- There is no such thing as a “one size fits all” insurance policy for businesses. Your business is a unique business and deserves a custom built business insurance policy that specifically meets your needs. For example, if you are a restaurant owner, you may need different types of insurance coverage/options than does a landscaping business.
Solid Financial Background- You will want to check the AM Best rating of the carrier because anything less may be substandard for your commercial business needs. If the carrier is rated excellent (A) then that means they have a solid financial background, make sound claims decisions, and are in a better position to promptly and fairly pay your claims.
Convenience of Automation- If you have a claim in the middle of the night, you need to ask yourself whether you will be able to report the claim right then or will you have to wait until the claims office opens the next day? Being able to report a claim or check the status of your claim online or with your mobile device is something to consider.
Consider All Components
If you have all the above components at an affordable price, then you can rest assured you will have the type of insurance protection your N.C. business deserves. Price, alone, may not provide the type of first-rate insurance protection you need should an unfortunate accident/loss occur. Our independent insurance agency is here to work for you, to optimize your business while minimizing risks, build a customized package built just for your specialized business needs, all within a fair price to fit your budget. Call us today with any questions you may have or assistance with your N.C. commercial business insurance at 866-869-3335.
