How to Identify the Right Agent for You

As a Louisiana business owner you have so many factors that affect the success of your company. Your business is important, so working with the right insurance agent is a great way to ensure you have an advisor who can properly guide you on the insurance policies you need. Here we’ll outline some basic information on how to choose an insurance agent that will work best for you. 

Some questions to ask while choosing an insurance agent: 

Does the agent have experience with business insurance?

‍Not every agent can sell every type of insurance policy. If you have business insurance needs then you need an agent who is capable of offering policies for business insurance, also commonly called commercial insurance. Your needs for home and personal auto insurance are very different from your needs for general liability, business auto, and workers' compensation insurance. These aren’t the only policies you may need, but working with a good business insurance agent that understands your business and can offer policies you need are important. 

Will the agent work to understand my business and needs?‍

Building off of the first point, having an insurance agent that understands your business or industry can be valuable. Knowing they have clients with operations similar to yours that they successfully service can offer you some confidence that their expertise can align well with your insurance needs. If you can, a good practice can be to ask for references about the agent and how their agency services similar businesses. 

Does the agent understand and demonstrate expertise with workers' compensation?

Because Workers' Compensation is required if you have employees in the State of Louisiana, working with an agent that knows workers' compensation can certainly make a difference in your experience with your policy. Workers' compensation can be confusing with many factors that can affect your rates, your premium, your audit at the end of the policy term, and more. Your business needs to be classified accurately with the proper NCCI Class Codes and payroll so you are quoted a good estimated premium. An incorrect class code or using lower exposures may give you a lower premium up front, but can lead to an expensive audit and potential compliance issues with the insurance company. 

Does the agent have the resources and right insurance companies to service my business insurance needs?

Not all insurance companies are created the same. Depending on the risk management needs of your business there is a whole marketplace of insurance companies that offer policies and services that can be valuable for you. The cheapest policy does not mean it’s the best. Other factors may need to be considered, such as can the company offer safety programs and/or risk management information? An insurance agent should have access to the right insurance companies for your business to make sure you get the best value for the premium paid. Your agent should be able to guide you as to what service and resource capabilities that are offered by their agency, and the insurance company. 

What is the agent’s plan for policy renewals?

Your needs aren’t finished once you bind a policy the first time. Your business doesn’t just exist for one year! Policy renewals and the evolution of your business are just as important as procuring coverage when your business started. Things change, and an agent that plans for regular check-ins can help you manage your policies to reduce the likelihood of major issues occurring. Change is inevitable, but good communication between you and your agent makes the change manageable with your insurance policies. Having a plan with your agent on how to handle renewing your insurance policies before your policy expiration dates helps to make it a smooth process so you can focus on keeping your business successful. 

Although these are some good tips to start, you should consider other questions that are important to you and your business when choosing an insurance agent. 

Are you looking for an insurance agent? You can use our Find an Agent tool on our website to enter your city or zip code to find an agent near you today. 

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