You’re online, looking for business insurance. Literally, 200 million results come up in your Google Search – it may seem overwhelming. How do you make the best choice for your business insurance quotes?
That’s a good question because the importance of having the right fit business insurance is really important – and I say that not as an insurance broker, but as a business owner myself.
If you’re like me, your business probably represents a good-sized chunk of your net worth – or if you’re a startup, I’m sure you’re hoping it will be sizable. Protecting that asset correctly is really important.
So let’s look at those Google search results for business insurance quotes.
You’re going to see ads at the top and bottom of every page and often these ads will throw out numbers like “as low as $22.50 a month” – to me that’s just clickbait and total nonsense.
Other ads may be more targeted to your industry.
Following the ads will mostly be large brand-name insurance companies like Geico, Liberty Mutual, Travelers, The Hartford, Farmers, etc.
Also mixed in the first few pages will be something called insur-tech firms that sell directly to business owners like Next Insurance.
You’re probably not going to see large or small insurance brokers until page 4 or 5 and that’s because it’s hard to compete with very large companies that have huge budgets to spend on digital marketing.
The point is that it can be overwhelming.
There’s tons of competition, and as a buyer, you just don’t know where to start if you’re looking for the best business insurance quotes.
What’s the answer?
I think the best place to start when is by answering a few questions related to what’s most important to you.
And here are my top 4 questions to ask:
- Who do you want to work with?
Do you want to work with an entrepreneur or a big Fortune 500-type company?
- Are business relationships important to you?
Do you want to work with a call center and speak to someone different every time you call – or would you prefer to build a relationship with an expert and speak to the same person every time you have a question or issue?
- Is choice and options important for you, or are you okay with getting one quote from one vendor and then going to the next, and the next, and the next to get multiple choices?
- Is it important to work with business insurance experts?
Okay, I’ll admit, I’m a little guilty of tilting the questions in my favor – we are an entrepreneurial firm, we have dedicated experienced account managers you can build relationships with, and we represent the top national insurance companies to give you choice, and my team and I are experts.
Guilty as charged.
But, the point of that exercise is that I think it’s important to start this process of getting quotes on business insurance with the end in mind.
What do you want to end up with?
You’re probably looking for getting choices and recommendations from experts without a lot of extra leg work…. right?
You probably want to work with an expert and know you can speak to someone who knows what they’re talking about…. right?
If that’s the case, then you want to work with an independent agent or broker – not a large insurance company and not an insur-tech.
So, how do you find the broker that’s a good fit for you?
Also a good question. It might take some online research, viewing videos like this, reading articles, seeing how brokers show up on social media, what their rankings and recommendations look like, etc.
Then you’ll want to speak to a person – a real conversation. You don’t want to fill in a bunch of forms and get a quote.
Your business is unique and so should your insurance coverage and that phone call or calls are going to determine your right choice.
You’re going to know if you click with someone, and if you do, my recommendation is to run with it.
My other recommendation is if you find that broker you click with – don’t keep calling other brokers. This may seem counterintuitive, so let me explain.
Working with more than one broker at a time is ineffective and usually does not lead to good results.
This is because most “good” brokers represent a broad cross-section of the marketplace and by engaging more than one broker at a time the only thing that happens is a disruption in the market and a lot of wasted time.
It’s not good for you or the different brokers you’re speaking to.
Choose your broker first and let them go to the marketplace and get quotes and come back to you with their recommendations.
The bottom line is that you want to like and trust the broker you’re going to do business with.
I certainly hope you’ll consider speaking to me and my team – and see if we’d be a good fit.