Commercial insurance brokers can help you protect your business assets by ensuring that you are properly covered in the event of a loss. The primary difference between commercial insurance brokers and agents is that brokers can provide businesses with competitive quotes from multiple insurance companies.

Commercial insurance is not one size fits all. Commercial insurance brokers assists businesses in not only meeting state insurance requirements, but also in creating tailored policies that meet their unique insurance needs for business property, product/service liability, commercial vehicles and other entities. It is important to obtain commercial insurance broker services from professionals who are reliable, honest and committed to providing the best possible service to protect your business assets. Consider the following tips to help you choose a commercial insurance broker.

1. Create an outline of everything you want to cover.

2. Discuss coverage and rate options with commercial insurance brokers.

3. Maintain adequate business liability and property coverage.

Action Steps
The best contacts and resources to help you get it done

Consult with commercial insurance brokers to protect your business

Prepare for commercial insurance brokerage meetings by gathering all pertinent business information. Be ready to discuss your business operations, equipment, services and product offerings as well as company assets. This will help commercial insurance brokers put together insurance package options that address your specific insurance needs.

I recommend: AMIS provides commercial insurance brokerage firm nationwide. Consider obtaining commercial insurance from Marsh, a leading global insurance brokerage firm.

Compare fees for commercial insurance brokerage firm

While insurance coverage options will, for the most part, be the same, rates will vary between insurance companies. Be sure to carefully review all insurance packages received from your commercial insurance broker to ensure you are not substituting quality service for low rates.

I recommend: Check out American Insurance Broker Directory for a listing of commercial insurance brokers by state. NetQuote is another online commercial insurance broker directory that offers free online quotes.

Stay in contact with your commercial insurance broker

Even though it is the responsibility of a commercial insurance broker to stay abreast of changing insurance guidelines and regulations, he/she cannot maintain your policy if you do not provide regular updates on any changes in your business. Be sure to notify your commercial insurance agent of any new equipment purchases, change of product offerings, etc. These are just a few items that could potentially affect your insurance policy.

I recommend: Consider obtaining coverage and rate information from Brown & Brown, one of the top 10 commercial insurance brokers in the world. Tenger Miller Insurance Brokers can also advise you on commercial insurance policies.

Tips & Tactics

Helpful advice for making the most of this Guide

• •  Because commercial insurance brokers work on commission and may represent several different insurance companies, they charge fees for putting together insurance policy packages. Be sure to obtain fee information upfront before choosing a commercial insurance broker.