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Business Insurance Companies ≥ e = mc²

Einstein’s theory of relativity is child’s play compared to sorting out the varieties, styles, organizations and groups that deal with insurance. People looking for insurance for any reason at all must surely recognize that they first and foremost need to be as clear as possible as to what their specific goals are in buying an insurance policy. It is important that customers connect with professionals who understand and know the right questions to ask as well as the answers and options in dealing with business insurance companies.

At the ground level, any consumer needs to understand that business insurance companies come in all shapes and sizes and the ones they are dealing with must be appropriately licensed to operate.

There are business insurance companies that are:

  • Domestic – companies that operate in one state only
  • Foreign – companies licensed to operate in multiple states
  • Alien – foreign-based companies that may or may not be authorized/licensed to do business in the United States (In the global economy, the question of where a company is based must be asked).
  • Authorized – insurance groups that are certified only to do a particular kind of business in a specific location
  • Reciprocal – dealing with insurance policies that are handled on a cooperative basis to reduce costs
  • Stock – company owned by shareholders
  • Bond – a financial guaranty insurance company
  • Mutual – insurance company owned by those insured

Mixed in with the kaleidoscope of possible foci are business insurance companies that are known as mono-line companies. These companies only deal with one type of insurance.  Other business insurance companies may carry multiple-lines of insurance and sell a wide range of policies. These business insurance companies deal with insurance from a variety of related perspectives and may have a part to play in certain kinds of “custom” policy coverage.

Einstein and Business Insurance CompaniesTalking with professional agents will help our customers know what to include. There may be discussions needed about annuities, pensions and life insurance, yet the specific policy sought at this time may need nothing more the general liability coverage, looking only at business insurance companies that deal specifically with property/casualty insurance.

Once it is clear what the general categories of insurance are being explored, then the focus can switch to the various specific types of insurance that may “mix-and-match” to meet all the particular needs outlined:

  • Property
  • Equipment
  • Debris removal
  • Builders’ risks
  • Glass
  • Inland Marine
  • Business interruption
  • Ordinance and legal codes
  • Tenants
  • Crime
  • Fidelity bonds
  • Liability
  • Errors and omissions (also Professional liability)
  • Malpractice
  • Auto
  • Workers compensation
  • Directors and officers

Kaup’s Insurance is able to put our customers in touch with the reliable business insurance companies who are “in the know” and can be professional and courteous in guiding consumers through the insurance maze.  Get guided through that maze here.

By David Olmstead

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