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5 Tips to Make Switching to a New Business Insurance Policy Easier

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The thought of switching business insurance can be extremely nerve-wracking and maybe even a bit confusing. You might be wondering where to start, what to look for, and how to make sure you don’t end up with any gaps in your coverage. The good news is that when you know what to do, it is not as difficult as it might seem! With a little planning and these helpful tips, you can switch to a new business insurance policy with confidence and ease with these five simple steps. Switching to a new business insurance policy will help protect your company for when an emergency occurs.

 

1. Know Your Needs

 

Before you even think about contacting commercial insurance companies, take some time to understand your own business needs. Consider what kinds of risks you face along with your assets and liabilities. If you have difficulty figuring this out, you can create a spreadsheet and analyze everything carefully. Sometimes, it helps to see it in front of your face rather than trying to juggle it all in your head. Knowing your needs will help you choose the right insurance policy.

 

2. Do Your Research

 

The insurance market is like a giant mall with tons of different stores, and each of them offers different products and prices. Do not just go with the first one you see! Take your time to shop around and compare different insurance providers. Look at their coverage options, their premiums (that is, how much you must pay for the insurance), and their deductibles (how much you must pay out of pocket if you make a claim). Do not be afraid to ask questions, either. It is critical that you do everything you can to understand your options. Online reviews are also a great source because they help you to see what others are saying about the various insurance providers.

 

3. Time It Right

 

Timing is important when switching insurance policies. You do not want to end up with a gap in coverage, where you are not insured for a period. The best time to start shopping for a new policy is a few months before your current one expires. This gives you plenty of time to find the perfect fit and make the switch without any difficulty.

 

4. Talk to Your Current Insurer

 

Before you say “goodbye” to your current insurance company, it is a good idea to have a conversation with them. Explain why you are considering switching and see if they can offer you a better deal or address your concerns. You might be surprised at what they can offer to keep you as a customer.

 

5. Keep Good Records

 

This might sound boring, but trust that this is important! Keep track of all your communications with insurance companies, and this will include quotes, policy documents, and any correspondence about your old and new policies.

 

Switching business insurance policies does not have to be a headache. This is because following these tips will make certain that you can make the process smoother and less stressful, and make certain that your business is always protected.

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Jacob Maslow chases the thrill of seeing long-lasting, measurable results for clients. Analytical in nature, he loves to work hard and tries topping yesterday’s results. An e-marketing manager and SEO strategist, he works with companies to see direct, measurable results that lead to higher conversion rates, and ultimately, increased profitability. The dynamic nature of SEO campaigns keeps Jacob on his toes as he is always challenged and continually growing his skills to succeed in the field. Jacob specializes in: • SEO strategies • Link building campaigns • User and customer acquisition • Pay-per-click campaigns Lowering promotion costs while growing site traffic is his specialty. He helped Tabcom, LLC reduce promotion costs by 75% for their email list building campaign while improving sales and opt-in rates. He also helped Allergy Be Gone’s sales grow to $4 million annually, doubling revenue. Jacob works as an SEO expert with PSM helping clients grow their traffic organically. His one goal for all clients is long-term profitable growth, and that is exactly what he offers to the PSM team. Jacob is also the owner of Mekomi.net as well as several Google News sites.