Going without construction General Liability Insurance protection is not really an option. This is why contractors try to find the cheapest, most cost-effective package for their business. It often means browsing around and understanding the structure of the construction General Liability insurance protection policy, so that you can tailor the best package. After all, you may need more than just the basic protection offered against injury, property damage, personal damage, and ad/marketing damages.
What makes for a good General Liability insurance provider?
Finding a good insurance provider for the right price can be tough. You want a provider that is licensed in all 50 states, and that speaks your language, if you are more comfortable with Spanish. Here are 5 other things to look out before you go with the cheapest policy:
- The provider should have a good track record and a lot of experience in the industry. In this way, you can make sure that you are working with someone reliable. One you can reach quickly whenever you have any issues.
- You also want to find an insurer that will help you out with the process of finding out the right package for your situation. Not all policies fit your particular needs and budget. With an extensive review of your operations, you can greatly optimize your coverage. As such, the right insurer will have a team that will help you better understand your options.
- Some providers may be able to connect you with insurance companies from all over the country. This includes large companies that operate at the national level. It also includes small companies that are less well-known but have stellar offers. This can greatly widen your range of options. It can improve the possibility of you finding a very good price for your coverage.
- The ideal provider will also go to extra lengths to make sure that you get the right discount, by reviewing your workers’ compensation experience modification worksheet, and the company will offer you multiple insurance options to choose from.
- Finally, the provider should have an effective customer support team that can get you your certificates of insurance in a few hours.
Insurance by the numbers
A surprising 44% of all small businesses that have been operating for over a year are uninsured. This is often because the currently available policies are not nuanced enough to fit the highly varied needs of these companies, or because these companies do not have access to the policies they desire, either because the policies are not available in their area, or because they are not available online.
Even more surprisingly, 74% of uninsured applicants would like to start their coverage within a week, with 49% of them wanting to start it the same day. These numbers go to show that without an online broker that can connect offline providers with the right customers, a large segment of the insurance market goes unserved.