Information Required to Obtain a Business Insurance Quote

How to Get a Business Insurance Quote through an Insurance Broker

The responsibilities associated with operating a business can both extensive and diverse. Day-to-day tasks, long-range planning, and the management of all people and processes in-between will combine to create a rather comprehensive and complex business model; and this is often independent of the actual size of the business.

One of the critically important aspects of a commercial enterprise that can often get lost or overlooked within its overall system of operation is business insurance. Similar to the ways that a business can and will change over time, its insurance needs will also change; expansions, diversification, equipment upgrades, and more will all play a role in the type of insurance coverage required; regrettably, many business owners just do not have the time to research/shop for commercial insurance as their needs change, choosing to rely instead on merely rolling over their existing policy on its renewal date.

In these circumstances, an insurance broker such as Petley-Hare Limited can be an asset to Durham Region business owners who want/need to review and modify their insurance but are unable to thoroughly pursue this on their own. By supplying background on the following areas of their operations, business owners will give their broker the information required to evaluate current/future insurance needs and find the best possible coverage.

The type of information generally required to obtain a business insurance quote includes:

  • Business Operations
    • Types of products and/or services?
    • Markets – local, domestic, foreign, all?
  • Annual Business Revenues
    • Trending and projected
    • Various income streams
  • Current Business Insurance
    • Yes or no?
    • If yes – type/extent of coverage
  • Recent Upgrades or Renovations
    • Structural, material, technological
    • Specific details and capital invested
  • Assets
    • A list of what has to be protected
    • Physical, mechanical, material, etc.
  • Insurance History
    • Details of any past claims and settlements
    • Experience letters from previous providers

Preparing and presenting this information to the insurance broker will help expedite their assessment of any potential gaps between the current insurance coverage and the type of coverage that should be in place for that particular business; this subsequently allows the broker to solicit various providers on behalf of the business owner to obtain the best possible quote.

Commercial Insurance Offerings Tailored to Support Your Business Needs

Obtaining A Business Insurance QuoteFor almost 100 years, Petley-Hare Limited has been providing Durham Region business owners with tailored insurance solutions to suit the needs of their operations. In today’s competitive marketplaces, business insurance is essentially a necessity; business owners need to protect themselves against all possible damage and threats to their bottom line.

The experienced professionals at Petley-Hare Limited can help new and existing business owners in securing adequate and appropriate insurance coverage relative to their needs, based on a range of factors including but certainly not limited to:

  • Risk assessment
  • Marketplace exposure
  • Distribution of premiums
  • Strategies for loss prevention
  • Business interruption protection

For additional information on the support available from the expert insurance brokers at Petley-Hare Limited to help protect business owners, their employees, and their clients, please visit our Tailor Made Business Insurance Solutions page.

To learn more about our commercial insurance offerings, Call Petley-Hare Limited today at 1-800-216-5324 to speak with a business insurance expert or Contact us to request a no-obligation quote.