A very good question to ask, especially if you are looking to insure your new small business or shopping around for better coverage or pricing for your current policy. Find out now by getting a quote. Or read on to learn about the four main factors that affect the cost of your business insurance.
The Cost Of Business Insurance Depends On The Following
When insuring a business it is going to be influenced by the following factors.
- TYPE — The first likely question to know “How much business insurance will be for your business” is “What do you do?” The type of business you are in is going to dictate the amount of risks you are exposed to. A Hallmark card printing company is exposed to much less risk than a dynamite manufacturing center.
- PAYROLL — Understanding a company’s payroll, revenue, and assets create a fuller picture of their business insurance needs. Payroll can help insurance companies gauge the size of the company properly and how much business insurance coverage their company needs.
- SALES — Business insurance premiums are largely a factor on revenue as the insurance company sees a greater amount of exposure directly proportional to greater revenue. A business selling 2,000 items a year faces a far greater exposure than a company who only turns over a couple items per year, just because of more ‘at bats’. For instance, if you own a small bakery business, you probably won’t face nearly as much exposure for food-borne illness to your clients as a large industrial confectionery plant would.
- AREA – The location of your business and whether you own the building or not can affect how much your business insurance can cost. When seeking a business insurance quote be prepared to provide information on:
- The location of your business
- The square footage
- The year the building was built
- The type of construction
- The other tenants (if applicable)
- The occupancy rate
Those four factors will most affect how much business insurance will cost. With the previous information an insurance company can work to get you the cheapest business insurance rates possible in line with the coverage required.
Before You Decide On Your Business Insurance Coverage
Now that you understand what goes into the cost of business insurance, you need to find an insurance company to provide you with an insurance quote. Finding good business insurance doesn’t have to be complicated. But, how do you decide on which insurance company can give you the best business insurance coverage and cost you the least amount of money?
You need to do two things:
- Quote your insurance with numerous carriers
- Learn what each insurance company is willing to do for you
Why Southern States Insurance Is The Best Option For Your Business Insurance
We are confident we can be the insurance company you need to help you and your business succeed.
Southern States Insurance will:
- Quote your business insurance policy with multiple insurance carriers, to be sure you receive the cheapest business insurance for your businesses insurance policy.
- Highlight your business and help promote your company’s newsworthy material in effort to help you grow and succeed.
- Build a relationship with you to help provide understanding and walk you through any situations that may arise.
There are so many insurance companies for you to try and shopping your business insurance policy is strongly advised. Unfortunately, shopping your insurance can take time and becomes confusing as you try to interpret coverages and insurance language.
Southern States Insurance‘s professional insurance agents will contact our insurance carriers and do all the work for you.
We can then present you with an explanation on what each carrier offers in terms of business insurance coverage and how much each will cost.
Our Georgia insurance agency will help your business succeed. We know not only how to get you good insurance for your business, but we have built our insurance company on relationships. If you are a small business or a larger company you have learned the importance of relationships. We want to know you and your business.
How much your business insurance is will be based on the factors we presented above and our insurance agents can help you understand how much your business insurance coverage will cost more in detail. Let Southern States Insurance take care of you. Start a relationship with us by filling out the form for a free insurance quote at the top of the page.