Commercial Insurance: How Your Rates Are Determined
If you run a business, you know the importance of commercial insurance. Commercial insurance not only protects your business- it also protects you and your employees. This type of insurance can seem like a bit of a mystery, especially when it comes to how your rates are determined. Let’s look over a few different factors that determine your commercial insurance rates.
– Business type. If your business is in a field that tends to have flash-in-the-pan businesses, or you have a high risk business, it’s possible that your commercial insurance rates will be higher than businesses that are lower risk. Your insurance agent will be able to explain the level of risk associated with your business.
– Location. Is your business located in an area that has high amounts of crime, or near a water source that tends to overflow? Both of these issues, although unrelated, could cause your commercial rates to increase. Location matters.
– Length of time you’ve been in business. The longer your business has been up, running, and successful, the lower your commercial insurance rates will be.
– Annual revenue. The amount of money your business brings in each year plays a role in your commercial insurance coverage rate.
Call Alliance Insurance Services Serving Arvada, CO
If you’re in need of a commercial insurance policy for your business, Alliance Insurance Services, serving Arvada, CO, is here to help. Stop in to see one of our agents, or give us a call to set up an appointment to talk about our services. We look forward to helping you with all of your business insurance needs.