Protecting your business with the right commercial insurance coverage is an essential part of running a successful business. Commercial insurance covers unexpected costs from events such as property damage, injuries, and lawsuits, transferring the financial burden to your insurer. Some coverage, like workers’ compensation, is even legally required.
With so many options for commercial insurance on the market, how do you find the right commercial insurance for your business? You can obtain commercial insurance through either a captive agent (representing a single insurer) or an independent insurance agency (representing multiple insurers). The best way to find the right commercial insurance plan is by using an independent insurance agency. An independent insurance agency gives you access to a wider range of commercial insurance carriers, saves you time and money, offers personalized service, dedicated advocacy, and ongoing support. The advantages don’t stop there. Keep reading to learn more about the benefits of using an independent insurance agency for your commercial insurance needs.
1) Unbiased Guidance & Advice
Independent insurance agents work for you, not a specific insurance company. So, unlike captive agents whose job is to push their company’s policies, independent agents are not pressured to push a particular product or promote a specific carrier. Their independence allows them to offer unbiased guidance and prioritize your best interests. They will take the time to understand your business and find you the right policy with an honest and objective approach.
2) Access to a Wide Range of Commercial Insurance Carriers
Independent insurance agencies partner with a network of insurance companies giving you access to a wide range of carriers, policies, and coverage options. Greater access translates to better coverage at a better price, which brings us to our next few points.
3) Save Time & Money
Finding the right commercial insurance policy requires significant research and time. Independent agents handle the legwork for you. They have expertise, access to information and rates you might not find on your own. They analyze your business, review policy details, and evaluate all options to present you with the best coverage at the best price. This saves you valuable time and potentially prevents you from overpaying.
4) Competitive Rates
Many businesses overpay for commercial insurance simply because they work with a captive agent or don’t explore all their options. Independent insurance agents compare quotes from the multitude of insurers they work with to find the most competitive rates for your commercial insurance needs. They can negotiate with insurers on your behalf to maximize your policy value.
5) A Custom Approach to Commercial Insurance
Every business is unique, and so are its insurance needs. Generic plans can leave your business vulnerable with coverage gaps, cause you to overspend, or pay for unnecessary coverage that doesn’t apply to your business.
Independent agents take the time to understand your business, assess specific risks, and shop the market to create a custom commercial insurance policy tailored to your business’s unique needs. Working with an independent agent gives you peace of mind that you’re adequately covered and only paying for what you need.
Insurance for Unique Businesses
Your company might require a unique type of commercial insurance like janitorial insurance, pollution liability insurance, inland marine insurance, or glass insurance that isn’t part of a run-of-the-mill policy. With their expert knowledge and access to such an extensive repertoire of coverage types from multiple carriers, an independent insurance agency can accommodate unique businesses.
6) Confidence in Your Coverage
Do I have enough commercial insurance coverage? Do I have the right coverage? Am I paying too much for commercial insurance? What if a natural disaster destroys our building? What’s an aggregate limit? Are my employees protected?
As a business owner, you have enough on your plate without these questions looming over you. With an independent insurance agency on your side, you don’t have to worry about whether you’re covered or become a commercial insurance expert to feel at ease. Hiring an independent insurance agent to put together your commercial insurance plan gives you peace of mind so you can focus on what’s important, running your business!
7) Acting as Your Advocate During Claims
Independent insurance agencies don’t just sell you a policy; they help you utilize it. In the event of a claim, they guide you through the claims process, helping you gather necessary documentation and file your claim correctly. If there is a dispute regarding a claim with the insurance company, your independent agent can help resolve the issue. In stressful times, an independent agent is your advocate.
8) Long-Term Relationships & Ongoing Support
Independent agencies prioritize building long-term relationships and providing ongoing support, including:
- Policy Reviews & Updates: Businesses grow and change. An independent insurance agency will regularly review your policies to ensure they meet your evolving needs, recommend and make necessary adjustments.
- Risk Management Advice: They can advise you on ways to minimize risks and prevent potential claims.
- Constant Support: They are available to answer questions, address concerns, and help you understand your policy. They will also inform you of and help you navigate any changes in the insurance market that are relevant to your business and policies.
Most independent insurance agencies are small businesses. Their success is built on long-term client relationships, trust, and great customer service. Businesses often stick with the same independent insurance agency for decades, because once they know your business, they are an invaluable asset.
Experience the Benefits of Working with an Independent Insurance Agency
Inter-Agency Insurance can help you find the right coverage for your business at the right price. Since 1966 we have been helping businesses of all sizes across the Southeast with their commercial insurance needs, forming decades-long relationships and building a strong reputation along the way. Our family-owned business offers you the best of both worlds—we are large enough to offer competitive rates but small enough to provide you with outstanding customer service.
Experience the benefits of working with an independent insurance agency, contact Inter-Agency or start a commercial insurance quote today!