The insurance premium is the price you pay for your insurance policy.
This means a good small business insurance premium is really a good price for your insurance coverage.
So, what is a good price for small business insurance?
Here’s what you need to know…
Small Business Insurance is confusing, time-consuming and Costly.
We fix these problems.
Small Business Insurance Premium
What is a good small business insurance premium?
When it comes to small business insurance premiums, finding a good price is completely relative to your business.
There is no way of saying what is a good insurance premium is specific to your business without getting some basic information. However, there is a framework by which to figure out what a good small business premium is so you know you’re on the right track.
Finding a Good Insurance Premium
The key to finding a good small business insurance premium is to start with the right insurance carrier.
It’s important to find an insurance carrier that will pay your claims, maintain consistent premium pricing, and has the coverage options necessary for your business.
To find the best small business insurance company you must find a company that wants to write your class of business. This seems obvious, but it’s a major key to getting a good insurance premium.
The key to finding the right insurance carrier partner, or set of insurance carrier partners as is oftentimes needed to cover all your risk exposure, is to find insurance companies that specialize in writing your class of business and THEN compare rates.
If you’re a carpenter, there are insurance companies that specialize in carpentry businesses. If you’re a restaurant, there are specific insurance companies that specialize in and want to write restaurants.
Work with your insurance broker or agency to shop your insurance program, and desires coverages, to this specialized group of insurance carriers to find the most competitive premium for the right small business insurance carrier.
How Do You Know If You’re Paying a Good Insurance Premium?
If finding the right insurance company (and therefore a good insurance premium), sounds difficult or like a lot of work, you’re not wrong. If you don’t know what you’re doing or who to trust there are many challenges when purchasing small business insurance.
This is why you need to find an insurance broker you can trust.
That’s how you find a good small business insurance premium.
Find an insurance broker, (like Rogue Risk), you can trust, be transparent when explaining your business and answering their questions, and then trust their recommendations.
Solving the trust problem is why we create so much content here at Rogue Risk through our blog and YouTube channel. It’s why our founder and president, Ryan Hanley, personally creates so much of the content himself.
This is also why we’ve built our own technology to find the best pricing with the right insurance carrier for every small business we work with.
This is how we’re able to compare up to 30 small business insurance carriers at one time. Always find the best insurance premiums for our clients.
How do you find the right premium for your small business?
Trust your insurance broker to carve out a group of insurance carriers tailored to your business and then rate each of them to find the most competitive price.
In essence, it all comes down to finding an insurance broker you trust.
If you’d like to work with us, you can start here.
Regardless of who you decide to work with, make sure your insurance broker is placing you with an insurance carrier that specializes in your industry and has compared rates against multiple carriers.
At Rogue Risk, our motto is Small Business Insurance on Autopilot.
That is what we do. We’re here to help you build that program and make sure that there is a method to the small business insurance madness.
Do you see the difference?
If this is the kind of relationship that you’d like with your agent or if your current insurance professional has never addressed these issues with you before, then I’d encourage you to reach out to us at Rogue Risk, today.
- You can call or text us at 518.960.6600.
- Click here to contact us via email.
I hope this article helped you better understand small business insurance.