A business insurance portfolio is composed of numerous business insurance policies, which combine to cover the insurable perils related to the running of a particular business. Each of these policies can be obtained from one business insurance company who specializes in a particular type of business insurance, or from a variety of different business insurance companies.
To compare business insurance quotes, is to compare multiple business insurance policies. For example, a retail outlet may have to compare business insurance quotes for buildings and contents, stock and perhaps fleet insurance (depending on their type of business.) How does one go about comparing business insurance quotes to make such a comparison?
Business insurance quotes through a broker
Brokers affiliated with certain insurance companies will be able to get a range of business insurance quotes from these and make recommendations to you as to which option is best suited to your businesses needs. They may be able to compile this from a range of business insurers instead of directly through one insurer, making the complete portfolio more comprehensive.
This however may cost more as the broker earns a fee per insurance company which comes out of the cost of the premiums for each insurance policy. It does however save you time and the trouble of sourcing multiple insurance quotes from direct business insurance companies yourself.
Business insurance quotes through an aggregator
Online aggregators of business insurance quotes require you to put in your contact details and perhaps the nature of your business. An insurance representative will call you to discuss your insurance needs and source multiples business insurance quotes while you’re on the phone. Aggregators make use of both brokered and direct insurance providers. The business insurance quotes they provide, however, may just be sourced from one insurer, unless otherwise stated or requested.
The aggregators save you time by providing quotes instantly. The insurance representative may be able to offer advice on how to reduce the cost of insurance and stipulate certain obligations on your part before you accept a business insurance quote, yet you will only be able to go through the insurance policy once it’s been agreed to. There is, however, a latency period during which you can opt out of the policy.
If you would like an insurance representative to contact you with multiple business insurance quotes to compile your business insurance portfolio, fill in our online form.