The right commercial insurance coverage is determined by the information.
Trying to determine coverage without the help of a licensed insurance professional is like to defending yourself in superior court. It’s important to talk with your commercial insurance broker often and meet at least annually. Here’s how to simplify and maximize your time and efforts in determining the proper coverage needed for your business. Save time by being prepared. This list of information and documents you want to have available when you meet with your insurance broker:
- Copies of all leases and landlord information
- Construction and building types
- Square footage / floors
- Additional locations where employees may be contracted
Vehicles and types of equipment
- Make, models and color
- Mileage and title(s)
- Vin numbers
- Titles and registrations to any trailers and road equipment.
- Approved drivers list with drivers license information
The Owners, Officer’s and employee information
- Spouses and children
- Date of birth
- Social security numbers
- Bank records
- Cash flow/Profit and Loss statements
- Loan documents
- Present insurance declaration pages
- Attorney and CPA contact information
Having this information ready and available is not only going to save time when meeting your insurance professional, it serves as a great review for your business.