What do I need to do to get a commercial liability insurance quote?


Before you start looking for a commercial liability insurance quote, you should determine the amount of liability coverage you think you will need to recuperate from a potential financial loss you may suffer in the event of a lawsuit against you. This is the first step to finding the commercial liability policy that best suits your needs.

Getting a Commercial Liability Insurance Quote - Step by Step

Once you have determined the insurance amount you need for your business, you can go about searching for a commercial liability insurance quote. Here are the steps this process usually includes:

  • Shop around for a reliable online insurance quote tool to get a commercial liability insurance quote from multiple insurance companies. There are hundreds of websites offering this option.
  • Fill in the application form and wait for different commercial liability insurance providers to contact you with a concrete offer.
  • Carefully compare all commercial liability insurance quotes in terms of coverage, rates and rating of the provider, and select the offer that scores highest on these criteria.

What a Commercial Liability Insurance Quote Looks Like

Despite the great variety of online insurance marketplaces, commercial liability insurance quotes are surprisingly uniform. The potential buyer will usually be asked to fill out an electronic form, providing the following information:

  • Business name;
  • Number of employees;
  • Contact information;
  • SIC code - a special trade code specifying the division, major group, and industry of the respective business;
  • Legal entity - whether the company in question is a sole proprietorship, a joint venture, a corporation, a partnership, a limited liability corporation, a municipality or a trust;
  • Number of years in business;
  • Gross annual payroll;
  • Gross annual revenue;
  • Years of owner experience;
  • Brief description of business;
  • Information about any current policy owned;
  • Coverage preferences.
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