Getting a Nationwide Property Insurance Quote:
Here’s What You’ll Need
When shopping around for business property insurance quotes, you’ll be asked to provide specific information about yourself, your company and the property to be insured. Before meeting with any insurance agent, it helps to know what information you’ll be asked to provide.
“We like to see our clients prepared to share as many specifics as they can,” says Aaron Lehmer, Commercial Sales Agent for Nationwide. “We want to get to know you and understand what you do. We’ll learn about your property and what you want to insure. It’s the key to creating commercial property insurance quotes customized to your needs.”
Take stock of what you have
Before you begin to request property insurance quotes, take a complete inventory of all your business property. That includes the building, its contents (including any personal items on the premises) and outdoor fixtures not attached to the building, such as signs and fences. Assign a value to everything and then decide what you think is worth insuring.
Gather key papers
Assemble all of the documents you’ll need. These include your lease or rental agreement; or if you own your property, a copy of the mortgage or other loan documents. You’ll be asked to furnish your personal information, including your Social Security number or Federal Tax ID number.
Also bring a copy of the declaration page of your current business property insurance policy (if you have one) to give the agent an idea of your new or changing insurance needs.
Understand your building basics
The agent will want to know about the location of the property, and physical details of the building, such as the construction type (brick or wood frame, for example), the number of floors, and if is there an elevator. Are there a lot of windows or other breakable features on the premises?
Because fire and wind damage are respectively the top two causes of property damage, be sure to note how your property is protected from these threats. This would include any burglar or fire alarm systems, if your building has a sprinkler system or if you have plenty of fire extinguishers strategically placed around the building. If possible, determine the age of the electrical and heating systems, and if the roof is in good repair.
Know the neighbors
If you share the building with other tenants, the agent will want to know details about that business, too. A fellow tenant using flammable solvents or chemicals, such as a dry cleaner or printer, is considered a higher risk and may impact your property insurance quote. Finally, you’ll want to know the location of the nearest fire station. The closer the firefighters and fire hydrants, the less premium you’ll probably pay.
Have an honest discussion
It’s best if you can share as many details about your business as possible, even those you might not expect. Your agent may ask about any prior losses your company has experienced. Keep in mind that a loss doesn’t necessarily mean your business property insurance quote will be higher. (Nationwide, for example, evaluates each customer and loss event on a case-by-case basis.)
Contact a Nationwide agent today and arrange for a commercial property insurance quote designed just for you.
