When deciding to work with a business insurance agency, MN business owners should consider the value of having access to experienced, local insurance professionals. While it’s obvious that every healthy business needs adequate coverage in order to mitigate risk and control costs, local pros can bring additional assets into the equation. Local knowledge, accessibility, a personal relationship and the value of your time are also important to consider when buying or renewing insurance policies for your business.
Mitigating Risks and Controlling Costs
These factors are interrelated. Cost cutting that results in inadequate coverage ends up to be expensive in the long run. And buying unnecessary coverage is expensive, too. Balancing risk and cost involves accurately assessing business needs and matching them with optimal coverage from the most suitable insurance vendors.
Local Insurance Knowledge
Retailers, manufacturers, contractors, legal and medical professionals, restaurant owners and other businesses all have different insurance needs. And some of these needs are defined by local geography. While it’s popular to consider the possibility of saving money by buying insurance online, a mistake in assessing your business coverage needs can end up costing much more than was saved.
Minnesota Insurance Agency Professionals
Doing business with Minnesota insurance agency professionals that know the potential liabilities arising from snow and ice makes more sense than asking someone sitting among palm trees half a world away to recommend the best coverage.
Accessibility – When there’s a question about business insurance, owners and managers need an insurance professional who will take the call and answer questions. They don’t need to wait on hold for hours, or waste time shuffling through an endless maze of automated menus.
Personal relationship – As businesses grow or contract, their insurance needs change. It’s natural for owners and managers to be preoccupied with daily operations, so it’s easy for a company to become over or under insured. But a good insurance agent becomes part of the risk management team, monitors business needs and provides continuity. There is no need to recreate the business history and circumstances to a new person each time there’s a question, as must be done when calling a remote help desk. And in the event that a claim is necessary, a local agent can answer questions and help smooth the process.
Time – It’s valuable. And by working with a local business insurance agency, MN companies can focus on their profit centers knowing that their insurance needs are covered. There’s no wasting time online or on the phone trying to reach someone who has the knowledge and authority to solve problems, because answers are just an easy – and local – phone call away.
And speaking of local phone calls, you can call Faribo Insurance at 888-923-0430 with your Minnesota insurance questions. Or if you prefer, email us, visit one of our local offices in Faribault, MN…Hastings, MN…or Lakeville, MN…or use the Quick Quote Insurance form to receive a custom proposal.