Is Same Day Insurance for the Business Owner Possible?


As much as the business world relies on getting things done as fast as possible, this is a time you want to take it slow to make sure you got it right.

Many insurance companies offering personal insurance tout their ability to provide sameday insurance services. This practice begs the question, “is that possible for a business or business owner?” The simple answer to this question is no. It’s not and should not be possible, and that’s a good thing. It should take your business longer to get insurance than it should take you. It’s all about how much more complicated your business is and how much more your business will need.

Business is More Complicated

Let’s think about it with an example; auto insurance is something both a company and a person would need. When looking for auto insurance, a person might spend less than one-day getting quotes and deciding which was the best. By the end of the day, they could have proof of insurance in hand for their automobile. On the other hand, a business will have a much harder time doing everything this fast depending on the size of the company.

Let’s look at an electrical contractor to see why. An electrical company is bound to have multiple cars that need insurance. On top of this, they will have to look into a specialty auto insurance policy to make sure they cherry picker type trucks are covered. In the end, they could need insurance for ten specialty trucks, five vans, and fifteen trucks. Unlike a car insurance quote, this will require looking over.

While your quote could have been on one or two new cars, this policy will need to cover thirty used and new vehicles in much more dangerous situations than the average car. It makes more sense then that it will take longer to get a good business insurance coverage quote.

Research is Vital

After accepting that the creation of the quote could take longer than one day, it’s important to know that your research should as well. If you think about how much you could have to cover, you might quickly realize your whole business is at stake. Just like a homeowner, you have cars, property, and money to protect. However, unlike the homeowner, you have much more of each in need of protection.

Taking the time to look at all the insurance programs you have available to you will help you to make the best decisions possible. There are dozens of types of insurance the business world and each has its place and purpose. You’ll want to take a look at easy questions like “what needs to be covered” as well as harder questions like “do I want full coverage and can I afford that insurance premium?”

Knowing your past and looking for any possible discounts can help you to shave off the time you spend working with the agent. It will also help you save money in the long run. The best part about looking for business insurance and doing research is that if you need help, the agent will be there to answer any questions that you could not find yourself.

Insurance for your business doesn’t work like insurance for your personal life. You can’t get last minute insurance to cover a big business project in the same way you can get renter’s coverage on the day you put down a down payment. However, if you plan and do a little bit of research, you’ll see the extra time was worth the wait. An insurance agent will take time to craft the perfect insurance policy for your business whether that be auto insurance or general liability. They will take the time to explain each policy with you and make sure your livelihood is protected should the worst happen.