| Message |
Author |
|
 Posted: Tue Mar 24, 2009 2:41 pm Post subject: Business property and casualty risks.. |
|
|
Hey, I gotta know something regarding business insurance.
How do the carriers determine rates for property and casualty coverages?
Is it worth covering for the business risks? If so, what risks do we need to cover for and what risks we needn't? BarbieL
_________________
Register Now to have your Insurance queries solved. |
|
BarbieL
Guest
|
|
| Posted: Tue Mar 24, 2009 5:54 pm Post subject: |
|
|
Rates are determine based on many factors, risk/exposure is, the size of that exposure, loss history, claims history, location, etc.
Without knowing any informatin about the business I'd say your best bet is to sit down with a local commercial agent and discuss your needs. |
|
tcope
Forum Expert
Joined: 22 Nov 2006
Posts: 3199
Location: Salt Lake City, UT
335.28 Dollars($)
|
|
| Posted: Wed Mar 25, 2009 9:42 am Post subject: |
|
|
Agree with tcope, more information is required for better replies. However, typically the rate would depend upon the size and nature of the business, risk exposure, employee strength and the like. Please consult an agent with the details.
~Jeremy |
|
JeremyHolter
Senior member
Joined: 06 Jun 2007
Posts: 1163
207.27 Dollars($)
|
|
| Posted: Sat Apr 04, 2009 6:05 pm Post subject: |
|
|
For business insurance, you will have to have a risk management report for your business that would be reviewsed by the underwriters and bankers. Covering the business is a recommended- you have fire hazards, union, business risks, wrong supplies and wrong product deliveries etc, plus, for a service industry, e.g. for a mower damage to a garden of your customer is more likely when you have outsourced the job. This may lead you to emmergenciy problems and your problems may go out of hands.
There are a variety of insurance each segmentwise e.g. for logistics, for employee group insurance etc.. You need to design your insurance, and it is most critical step. Your situation is like a pendulum, and you have to decide on the insurance costs as well as all the risks being covered.
Hence it is always advisable to have some professional help if you really wish to handover a part of risk onto insurer from your head.
|
|
VIJAYRAJ
Full member
Joined: 11 Dec 2008
Posts: 73
0.04 Dollars($)
|
|
| Posted: Sun Apr 05, 2009 3:31 am Post subject: |
|
|
| It is worth it in the sense that if there is a loss because of the risk, you can still get something out of it. Whenever that there is a risk and result to a loss, you are putting the responsibilities on other's hand which are these companies. Its kinda tough to say if what you need to consider in listing the things that you need to cover for an insurance. We need to know first if the business is small or large and how does it operates or what the business offer. Generally, some of the things to cover are the property, employment, operation. Basis of those companies are through how large the business is, the covers that you need to. |
|
dritz
New member
Joined: 04 Apr 2009
Posts: 36
13.96 Dollars($)
|
|
