Liability insurance provides coverage for medical expenses, attorney fees and property damages that may occur as a result of claims made against your business operations . To start protecting your business from these risks, you’ll need a liability insurance plan you can rely on. Nationwide offers a variety of customizable liability options – and starting a quote is simple. Read on to learn more about the liability coverage quote process.
Preparing for a liability insurance quote
Your liability insurance quote may depend on the size and type of your business as well as the history of your company’s losses and claims. Our agents will work with you to determine the right amount of coverage to fit your needs based on these factors. Be prepared to open your books and answer some detailed questions about your company, who you are and what you do. Our advice is to always be forthright and as transparent as possible – so the quote and policy will accurately reflect the realities and risks of your business.
What you’ll need to get a general liability insurance quoteHere are some details you can prepare ahead of time that you may need to provide during the quote process:
- 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
- Any prior losses your company has experienced. Keep in mind that a loss doesn’t necessarily mean your premium will be higher. (Nationwide 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 much 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 full-time and part-time employees, and if you employ any subcontractors or consultants
- Depending on the type of business, you may need to provide details about your building space and the total area of the building you occupy
- Details about the products you handle – especially if you’re in the retail, wholesale or manufacturing sectors. Companies in the service and construction industries will need to share the details of current and future operations
You can always rest assured that any information you provide to the agent for your general liability insurance quote will be kept confidential. As a matter of liability, that’s the promise we in the insurance industry keep for our clients – including you.
Need a general liability quote now?
Start the process to get a business liability insurance quote today.