Business Insurance
Businesses must consider more than just profits and growth when making future plans. In fact, preparing for difficult times may be just as important, if not more so. After all, a company that lacks risk management and loss control measures could have its prosperity and mission irreparably derailed. As such, business insurance should be a top priority.
What Is Business Insurance?
Business insurance typically refers to multifaceted coverage solutions tailored to suit the unique risk profile of a commercial entity. While many insurance companies may offer bundles and packages, many organizations may need to augment or adjust these products to establish appropriately tailored coverage. Fortunately, qualified business insurance professionals, such as those at Express-Way Auto Insurance Agency, can help companies identify their needs and secure ideal policies.
How Much Is Business Insurance?
Carriers may consider various business insurance cost factors when determining rates. This may often include analysis of the following criteria:
- Industry
- Location
- Workforce size
- Years in business
- Revenue
- Value of insured assets
- Previous claims
- Portfolio details (e.g., coverage needs, policy limits, deductibles and endorsements)
Is Business Insurance Important?
Business insurance should be considered an essential investment. Regardless of an organization’s commitment to safety or the experience levels of its employees, mistakes and accidents are often inevitable. Certain incidents, such as natural disasters, may also be beyond a business’s control, while still potentially inflicting significant losses. Given these harsh realities, sufficient coverage is necessary. Furthermore, certain types of insurance, such as workers’ compensation coverage, may be legally required, and noncompliance could incur significant penalties.
Get the Right Coverage
At Express-Way Auto Insurance Agency, we are ideally placed to serve businesses in the Chicago area. Contact us today to learn more or to get a tailored business insurance quote.