Starting and Running a Small Business – Business Insurance
If you are starting or running a small business, you want to be sure to protect its assets. This means you need to purchase some insurance for your small business.
TheEmbarkment.com is on a mission to bring you as much quality, free advice and guidance as possible. In order to carry out our mission, we have partnered with several Companies who help support us financially. When you purchase certain products or services using links on TheEmbarkment.com, we may receive a small commission. You can read our full affiliate disclosure here.
Even if you form an LLC or corporation, the entity’s assets are still at risk if something goes wrong.
Purchasing liability and/or property insurance to protect your business can be very easy.
In this post, I show you how you can do so in less than 15 minutes with Hiscox Small Business Insurance.
What is Hiscox?
Hiscox is a specialty insurer focussed on helping small businesses like yours with your business insurance needs.
They offer various forms of liability and property insurance.
The process for getting a quote and purchasing a policy is quick and painless.
It can be done entirely online or you can start an application online and finish it on the phone if you have questions
Following is an example of the simple process of getting a quote and purchasing a policy using their service.
In the example, I get a quote for a Professional and General Liability Insurance policy for Embarkment Salon, LLC, the example company used throughout The Embarkment’s Guide to Creating a LivePlan and Guide to Starting and Running a Small Business.
Links Used in This Post
Click on the Hiscox link above and you will be taken to a landing page where you can get a quick quote.
You’ll select the state your business is in and the industry you operate in.
Embarkment Salon is in Maryland.
Hiscox will then recommend the types of policies you should consider for your business based on the state and industry you chose.
You can review basic information about each type of policy and choose which ones you want to get a quote for.
I request a quote for Professional and General Liability policies for Embarkment Salon.
After selecting the types of policies you want to get a quote for you will provide some information about your business, including the name address, legal structure and size.
See how I answered these questions for Embarkment Salon above.
Next, you’ll provide some additional information about your business that is more specific to the industry you will be operating in and some more questions about the size of your business.
For Embarkment Salon, these questions revolve around types of services that will be offered and whether products will be sold.
I answer these questions and provide the additional information about the Company’s size above.
And just like that, you’ll receive your quote and detailed information about it.
Check out Embarkment Salon’s quote above.
After receiving and reviewing your customized quote, your just a few steps away from purchasing the policy and completing the process.
You’ll review some additional information about the policies you chose and some legal disclosures.
Once you agree with these disclosures, you will be taken to a summary page of your application and then you will be able to buy the policy online, if you choose to.
With that said, if you feel more comfortable speaking with someone about your application or have questions, you can save your application and then call Hiscox to speak with an agent.
For instance, I would also be curious to know if Embarkment Salon should be considering some property insurance for its equipment as well.
I could simply click the “Save” button at the bottom of the application.
When I call Hiscox, an agent would easily be able to pull up my information and quickly answer any questions I may have.
The whole process can take less than 15 minutes.
Click here to get your own personalized business insurance quote.
If you have questions about Hiscox or insuring your business in general, leave a comment below or connect with me on social media.