Getting quotes online for your business insurance can prove to be an effective tool. You can get several quotes based on the same information, which provides an effective way to make price comparisons. Actually purchasing business insurance online might not be the best choice for your business. In fact, many online business insurance quote websites will send you the quotes, but to purchase you have to speak with an agent or broker.

When you are searching for online insurance quote sites for your business, it is important to understand that there are actually three types of websites that will provide insurance quotes.

The first is the insurer. This is a company’s website, say like State Farm, Progressive, or Safeco. You fill in the requested information for the type of business insurance you are interested in and the single insurer will provide you a quote and basic information on the policy. Typically on these websites, after you get the quote you will be contacted by an representative of the company to finalized the policy and make the purchase.

The second type of online insurance quote mirror’s the above, only after you received the quote from the insurer, instead of a representative calling you, the website will direct you to a search engine to allow you to choose a local agent that will take the quote, make sure you’ve considered all the options and understand the coverage, then the agent will finalize the business insurance policy and will become your point of contact with the insurer.

The third type of website is owned and operated by a third party, and this online service offers insurance quotes on multiple companies. You input the information on what you are looking for one time, the website sends this information out and you will typically get quotes from several different insurance companies. It is important to do a little research before choosing a third party website to get quotes. Many are legitimate, but some aren’t. Some may not even be licensed to sell insurance within your state. Once these third party companies give you the quotes, they often will urge you to purchase the policy online.

At this point it is up to you to decide if it is appropriate for your business to purchase business insurance online.

Deciding to Buy Business Insurance Online

If you got several business insurance quotes and are thinking about buying online, there are several things you should consider. Think about your business. Its size, how well you understand the liability risks that concern your business, and how well you manage those risks.

Small businesses may be okay with getting online insurance quotes and buying their insurance online. Small restaurants, offices, or retail stores with only a few employees and no delivery service might benefit from this service. Service providers like a small printer, dry cleaner, or package service might also be able to purchase their business insurance online.

But if you are a large company, have several employees, delivery trucks, or have specialized risks, such as handling pets or providing health related services, purchasing business insurance online is probably not a good idea. If your business has a fleet of vehicles, manufactures anything, is in the construction business in any way, or if you are a restaurant of any size that might have to deal with the liability of liquor consumption by diners, then you shouldn’t buy business insurance online.

You should be less inclined to purchase business insurance online the bigger you are, the more employees you have, or the more complicated your business becomes. At this point you may want to get several online business insurance quotes, then work with an agent once you’ve determined the company or companies you are really interested in doing business with.

Summary

Getting a selection of online business insurance quotes is a great way to compare pricing and policy options through several companies. Purchasing business insurance online should only be contemplated by those with a small, simple business that has no unusual or common risks associated with the business.

It is better if you get online business insurance quotes and then work with an agent to fine tune and purchase your policy. This way you will get more personalized service and some one specific to contact if you need to make changes in your policy or upgrade your coverage. The insurance agent should also be able to help you assess risks to your business and insure you’ve addressed all the areas of liability for your company.

There are also options that you may not realize you qualify for, for instance higher or combined deductibles, self-insured options, and other creative ideas. Working with an insurance professional to fine tune your policy will ensure that you’ve considered all the alternatives.