Most of the time if you are looking for cheap commercial insurance, you are just trying to fulfill a basic legal requirement or criteria for getting contracts. You are generally not looking for coverage as much as you are trying to meet a requirement from the outside.
For example, if you are shopping around for cheap commercial van insurance, you need to fulfill laws requiring that all vehicles, including commercial vehicles be insured for liability. The same goes for contractors for example, needing the basic worker’s compensation insurance and general liability policy required for them to even get contracts and work.
Finding the cheapest rates for commercial business insurance is usually not that hard if you don’t really care what kind of coverage you have. If you need cheap commercial property insurance, just walk into an insurance agency and tell them you want the lowest rate policy possible with the most base coverage. Then shop around to other agents, making sure you let each one know that you are shopping around for the cheapest coverage. That will motivate them to go as low as possible for you.
Be careful in doing this though. Make sure that the coverage you are getting is sufficient to meet both the legal requirements and any restrictions laid out for you in any contracts you have out. If you don’t, you may be wasting your money. Even if the policy is dirt cheap, you may throwing your money away if it doesn’t meet your requirements.
If you are getting insurance to fulfill a contractual agreement, make sure the other party signs off on the coverage you get. It might be as simple as emailing them a copy of the policy and having them reply back with an affirmative. You can go as fas as having them sign an acknowledgement that the coverage was sufficient for them.
If you need cheap commercial auto insurance, you can probably find the best rates online. Just go to popular insurance websites like State Farm or Progressive. In the system you can ask for the lowest coverage possible and it will give you the cheapest rate possible.
Again, if you’re going for cheap you are not going for quality or quantity of coverage. Make sure that is what you want. Many small businesses cannot afford expensive insurance policies and will buy the cheapest policies possible just to get by. But if you do that, make sure you go in with your eyes wide open.
Other Insurance Articles
You can find other great articles on insurance in this website. There is an informative article about home content insurance that you can find here. It talks about how to insure the valuable items in your home, in addition to having your normal house insurance.
If you’re in the United Kingdom, you can find commercial insurance brokers via the UK Financial Services Authority. They are the ones who are in charge of regulating the insurance industry in the UK.