HOW TO GET A QUOTE

Top Questions to Expect for a Business Liability Insurance Quote

To give your agent better insight into your business, be prepared to open your books and answer some detailed questions about your company. This information will allow the agent to understand who you are and what you do, which will lead to creating a policy with the right amount of coverage.

You’ll be asked to talk openly about your company's revenues for the past several years, as well as what's projected for the future. Your agent will also ask about the type of company you run, how many people you employ, the area where your business is located and other factors. 

Our advice is to always be as forthright as possible so a business liability quote and policy can accurately reflect the realities and risks of your business.

Typical questions for a business liability insurance quote

Beyond the standard questions are some details clients are sometimes surprised to be asked during the commercial liability insurance quote process :

  • Any prior losses your company has experienced. Keep in mind that a loss doesn’t necessarily mean your premium will be higher. (Nationwide, for example, evaluates each customer and loss event on a case-by-case basis.) 
  • List of company officers and their positions if different from the owners of record. Be ready to discuss how many years of experience your senior executives have in the industry and at your company. Typically, the longer and more successful the company’s overall record, the better the risk for the insurer and the lower the premiums. 
  • Annual sales and payroll along with a breakdown of the number of your employees who are full time and part time, or if you employ any subcontractors or consultants.
  • Depending on your business, you may be asked about your building space and the total area of the building you occupy.
  • Declaration page of your current general liability insurance policy (if you have one) to give the agent an idea of your new or changing insurance needs. 
  • Details surrounding the products you handle whether you are in the retail, wholesale or manufacturing business. Companies in the service and construction industries need to reveal all the details of current and future operations.
  • Social Security number or Federal Tax ID number so that a credit check may be obtained. 

Rest assured that all of the information you provide to the agent for your general liability insurance quote will be kept confidential.