Business Insurance Quote Checklist

Information to prepare

Gather your legal business name, entity type, addresses, years in operation, detailed services, estimated annual revenue, payroll, employee count, subcontractor costs, claims history, and existing policy details.

• Copies of customer or landlord insurance requirements
• Vehicle, driver, and equipment schedules
• Property values and security protections
• Professional licenses and relevant training
• Five years of loss runs when available

Compare like with like

Create one row for each proposal and record the insurer, policy term, coverage form, each limit, deductible, important endorsements, exclusions, fees, payment schedule, and total annual cost. Confirm whether quoted taxes and fees are included.

Questions worth asking

Ask what is not covered, which activities were assumed, how subcontractors are treated, whether defense costs reduce the limit, and what happens when revenue or payroll is audited. Request answers in writing when they influence your decision.

• Does the policy satisfy the contract I provided?
• Are defense costs inside or outside the limit?
• Is coverage claims-made or occurrence-based?
• What must I report during the policy term?
• Are additional insured endorsements available?

Before you bind

Read the proposal and application before signing. Correct missing or inaccurate details. Confirm the effective date, payment schedule, cancellation terms, and process for obtaining certificates. The complete policy—not the marketing summary—controls coverage.

Build one source of truth before requesting quotes

Quote shopping goes wrong when every provider receives a slightly different version of the business. Create a dated application packet and use it for all submissions. If an estimate changes, revise the packet and tell every provider. This makes price differences more meaningful and reduces the chance that an accidental omission follows the policy into a claim.

Include the legal entity, DBAs, ownership, addresses, years in business, detailed operations, revenue, payroll, employee duties, subcontractor costs, vehicles, property values, prior coverage, and claims. Add copies of contracts that impose insurance requirements rather than paraphrasing them.

Read the proposal in two passes

The first pass is mechanical: confirm names, dates, limits, deductibles, classifications, locations, and premium. The second pass is practical: look for exclusions or conditions that intersect with normal work. A photographer should care about property in the studio; a contractor should care about completed operations and subcontractors; a consultant should care about the retroactive date and defense costs.

Record unanswered questions in writing. A brief email asking whether a particular service is included creates a better decision trail than a vague phone recollection. It also makes it easier to compare the quality of the help you receive.

Last checks before payment

Do not treat a certificate, binder, proposal, and issued policy as interchangeable documents. Confirm when coverage actually begins and review the issued policy promptly.

• All entities that need protection are named correctly
• Required additional-insured or waiver endorsements are attached
• Financing charges and installment fees are visible
• Claims-reporting instructions are saved
• The cancellation and audit terms are understood
• A calendar reminder is set well before renewal