Buying Your First Business Insurance Policy

Buying a policy for the first time when starting a business can be a process of learning what you
didn't know you didn't know. Often, entrepreneurs learn about some of their risk exposures and
liabilities through the effort to properly research and purchase insurance. There are a variety of
ways to make this process easier, from working with industry-specific agents to looking into
resources like the article on David Sayles Insurance about questions to ask a business insurance
agent. It's also a good idea to research what kinds of insurance are mandatory for companies
with operations like yours. Every state has different policy requirements for items like workers’
compensation and compliance with those requirements is the only sustainable way to operate in
the long term.
Be Direct and Detailed
Any business insurance agent is going to be ready to help you understand policy options, but you
need to know what to ask about. If you don't, ask for an interview that will profile your company.
Often, an experienced professional in the insurance industry can look at the individual operations
that happens at your facilities, the product or service you provide, and other factors to deduce the
right business coverage for your company. That holistic approach can sometimes even turn up
areas of exposure you would have missed otherwise, and it's also a great way to update a policy
after you' ve has grown or changed your business significantly.

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