What Do I Need to Have Ready to Complete an Insurance Application?
When you apply for business insurance through TechInsurance, you fill out just one application to receive quotes from multiple carriers. It’s much easier and more convenient than logging on to several carrier websites and completing separate applications. No one wants to answer the same questions over and over again.
But to make the insurance application process as hassle-free as possible, you need to provide some basic information about your business, its services, payroll, and location. Here is some information you want to have handy before you start your application with TechInsurance:
- Basic information about your company’s services and operations. This allows us to recommend the policies most likely to benefit your business. For example, most small IT businesses can benefit from…
- The industries that make up your client base. This helps us assess your risk and make sure you have the appropriate coverage. For example, if you protect client data and have several clients in healthcare, you may benefit from carrying Cyber Liability Insurance.
- Your business address(es). Your business’s physical location can affect your premium, and if you have more than one location, we want to make sure each one is covered under your policy.
- Your business’s revenue for the past two years. We aren’t trying to be nosy; we just need to know how much money you're bringing in to make sure you have adequate coverage. Basically, the more you make, the greater your risk, so we want to make sure your liability coverage is on par with any potential loss.
- Projected revenue for the next 12 months. Same deal as above.
If you're interested in purchasing Workers’ Compensation Insurance, we also need to know…
- Any state where you conduct business. Because Workers’ Comp is governed at the state level, we need to know which state laws apply to your business.
- The amount of projected payroll for the next year. Workers' Comp rates are based in part on your payroll.
If at any time you aren’t sure how to answer one of the questions on the applications, don’t fret. Our TechInsurance agents are ready to help. Just give us a call, and one of our agents will walk you through the application if you're stuck.