General Liability Insurance For a New Business

General Liability Insurance For a New Business

Buying General Liability Insurance for a new business can be a cumbersome task. There are many policies available and the prices can vary dramatically from program to program.

First tip for buying General Liability Insurance for a new business – start small!

The most common mistake we see when assisting clients’ with their general liability insurance for a new business  is the clients’ overestimations of their business’ gross receipts and payroll. Both the gross receipts and payroll are a major rating factor with most programs and many people do not realize this when requesting a quote. Before you ask your broker for a quote, spend some time to make sure you have an accurate and conservative estimate of next year’s gross receipts and payroll.

Second tip for buying General Liability Insurance for a new business – ask your friends!

Like many other business owners, you likely have friends that work in the same industry. These friends have likely gone through the same process of Insurance shopping you are going through now. It may be worthwhile to ask around to see which companies your friends are Insured with, and more importantly, how happy they are with their current broker.

Third tip for buying General Liability Insurance for a new business – price isn’t everything!

Many companies make the mistake of focusing only on the price point of their General Liability insurance quotes. We understand that as a business owner, you want to limit your overhead expensives, however, if you purchase a sub-par policy, it may contain exclusions that will cost you much more in the long run. Just by spending an extra few hundred dollars annually, you may end up saving thousands if a claim arises.

Stone Creek Insurance Agency is an East Bay Based Brokerage that understands the risks and coverages involved with starting a new business.

If you have any questions or would like an evaluation of your insurance portfolio please feel free to give us a ring at 925-297-4829 or simply fill out the form to the right. We hope to help you with your search for General Liability!

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All information is general in nature and is intended to provide guidance only. It is up to you to request specific coverage options, the agency and agent do not bear this responsibility. Always read the policy if there is a questions about coverage or a claim. If any information herein should conflict with your actual policy’s specific language, the policy language will be controlling.

Think we’re a good fit? We’d love to work with you!

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