Especially in an uncertain economy, business insurance is a must have. If you’ve already made the leap (or are considering it) you’re still not quite there. Knowing how to best utilize your insurance will make your business it’s safest—and it’s most successful. Business insurance also provides much needed protection for your employees, benefits, profits, and business assets.

Finding a policy that best meets your needs will provide the first step in most effectively utilizing your policy. Shop around—every policy is different and what works for your peer might not work for you. Jason Hartman’s business operates remotely, while yours may be focused in a central office. These distinctions will provide important direction when choosing a policy.

Fortunately, the internet makes it especially easy to research these things. You can even get quotes without actually speaking to a person. Sites like State Farm and Farmers Insurance make finding this information extremely easy—there’s no excuse to not research!

Use technology to your advantage and find a great policy for you and your employees.

Remember that there are a number of different types of business insurance. General liability, product liability, professional liability, commercial property, home-based business insurance will all vary. You may find that you need one form or multiple forms—meeting with an insurance representative will be the best (and easiest) way to make sure you’re covered on all fronts.

To choose the best policy, make sure that you check out ratings—consumer report websites are great ways to get evaluations from real people who have dealt with insurance companies in a professional capacity. Also look at sites like the Better Business Bureau for professional ratings. Find out what others are saying about the institutions financial strength and creditworthiness.

If you find that your insurance company experiences financial trouble, don’t worry. You are protected under the National Conference of Insurance Guaranty Funds, which acts as a safety net to those holding business policies. All insurance companies are members of the Guaranty Association, so rest assured—your business is protected.

Do you have personal experience seeking out business insurance? If you’ve had a great experience with business insurance (or a horrible one!) let us know—we’re interested in all of them. Share below! (http://www.flickr.com/photos/wallyg/170807829/)

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