How to Select a Small Business Insurance Broker

Selecting a small business insurance broker is a big decision for the owner. The insurance broker will need to be able to provide several types of coverage such as liability and auto insurance. Interviewing several insurance brokers is the best way to find the right one to use for small business coverage.

• Decide what type of small business insurance coverage you need. Look on the Small Business Administration (SBA) website at sba.gov to help you choose the right coverage to buy. Type ”insurance” in the search box in the upper right corner and then click the first link that appears in the results. Read the information to decide what coverage to use for your business.


• Ask a small business owner you know for an insurance broker to contact. Find out what type of coverage the owner has through the broker and ask how much it costs per year. Contact the insurance broker if you want to set up an appointment.


• Call an insurance agent you already know to discuss coverage for your small business. For example, you can call your homeowner’s insurance agent to find out if you can also obtain small business coverage. If the agent does not offer business insurance, you should be able to get a referral for a broker to call.


• Look in the phone book to find an insurance broker. Call one of the brokers and find out if the agency offers business insurance. Set up a time to meet with the broker and go over coverage you want for your business.


• Find a small business insurance website to look for coverage. If you cannot get a price quote online, look for the broker’s phone number and call when the agency is open. Find out how much the coverage you need costs to see if you want to use the broker.