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SPOTLIGHT ARTICLE/Preparing For A Liability Insurance Quote

19 Feb 2019 9:14 AM | Michele Cruz (Administrator)

Preparing for a General Liability quote saves time and inaccuracies. New Business owners are inexperienced in asking for and obtaining information for coverage. 

Some of the questions such as payroll and gross receipts are typically asked for gauging the volume of business and the exposure to risk rating property. 

When carriers look at the potential risk, the volume is a great indicator as to what premiums will work out to be for a company. The exposure is how rates are figured. Two similar business (i.e.) taco shops; one has $100,000 is gross receipts and the other has 3 location and $1,800,000 in receipts.  Each taco shop has a different exposure therefore has different premiums even with the same carriers.  Your risk factors may be similar but they are not the same.

Underestimating coverage can be very deleterious to a business owner. At the end of the term you can be audited and you will owe the insurance company for the excess exposure.  Be as accurate as possible to get the closest coverage that your business needs.

**This is in a generality of available coverage that you may want to investigate to see if it will apply to your needs.  This is not an advertisement, and no offer for insurance subject to state laws. Not all coverage are available in all states. 

Article Submitted by:

DAWN FISLER LUTCF,

Agent

LICENSE INFO:DAWN MARIE FISLER, LICENSED IN AZ, NV, UT

PHONE: (702)798-0888

EMAIL:thefisleragency@american-national.com

https://mlagents.americannational.com/dawnfislerlutcf-3537/

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