If a business owner has ever comparison shopped, they know how difficult it can be. The same holds true for Commercial Insurance in Kyle TX, as no two policies are the same. However, if the owner wants to give the company the protection it needs, they’ll have to make a decision. Below are several variables to consider during the quote comparison process.
This factor is quite obvious, and it’s a primary consideration for small business owners. The amount to be paid for coverage can greatly affect a buyer’s decision, and they shouldn’t pay more than necessary. However, if a buyer considers pricing and nothing else, they may miss out on important coverage.
Insurance is a heavily regulated industry, and business owners benefit from the rating carriers receive. When evaluating quotes, the buyer should check the carrier’s rating, which is an indicator of their financial stability and ability to pay claims.
While policy has occurrence and aggregate limits, it’s common for them to have sub-limits as well. For instance, a policy may have a $15,000 limit for immediate medical treatment for those injured on the premises. These limits are fairly standard from policy to policy, but not always. Depending on the nature of the business, a quote’s listed sub-limits could have a serious effect on the business owner’s choices.
General liability Commercial Insurance in Kyle TX only covers third parties whose property is damaged on the policyholder’s premises. However, if a general liability policy is combined with commercial property insurance, in what’s commonly called a BOP or business owner’s policy, an owner may also cover his or her property. The coverage carries a higher premium, but BOPs are usually less expensive than purchasing the coverage separately.
If, after considering the factors above, a business owner still isn’t sure which policy is best, it’s time to read the fine print. A local insurance agent can help clients review their coverage options and choose the right policy for their business and budget. For more information or to get a no-obligation quote, call the Perdue Insurance Group today.