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Pepper, Johnstone & Company Blog

All You Ever Wanted to Know About Insurance

How to Choose the Right Insurance Partner for Your Business

In the USA, business is more than a way to make money—it’s a way of life. But when the wheel of innovation turns, some are lifted up while others fall.

Thousands of small businesses fail each year for predictable reasons: low cash flow or disagreements among leadership. But even if you escape your early years, you may still face sudden and ruinous litigation. In fact, small businesses lose upwards of $160 billion to lawsuits each year

Now for the good news: you can place a shield of armor around your business. All it takes is choosing the right insurance partner. 

Top Factors to Consider When Choosing an Insurance Partner 

As an emerging or veteran leader, you know the value of putting the right person in the right position—that’s true of your staff and of the partners you choose along the way. 

After 50 years of protecting businesses throughout Athens, Huntsville, and the Southeastern US, Pepper, Johnstone & Company knows what it takes to shield the business community.

Here are some top factors to consider.

Factor 1 - Experience and a Proven Track Record

Like banks and saloons, insurance is an old business. Granted, age doesn’t always translate to success, but longevity can’t be entirely ignored in a hyper-competitive market. 

You can buy most anything on an app these days, and new startup companies are shaking up established models. But with nothing shy of your business on the line, gambling on the fresh approach of an online-only insurance company sounds like a needless risk. 

A time-tested insurance broker produces time-tested results. That’s why they’re around to protect your business today.

Factor 2 - Independence & the Ability to Shop Around

National insurance companies are great at making commercials. And why shouldn’t they be? They’ve got the money and the client list to afford them. But with tens of millions of customers, how much time and assistance can they really give to each? Your business is more than a line item and should be protected that way.

Thankfully, another option exists: independent insurance brokers. Instead of representing an insurance company as agents do, insurance brokers shop dozens of plans and options while representing you. 

In short, an agent works for an insurance company while a broker works for their clients.

Independent insurance brokers can help you find coverage that fits you better. From workers comp insurance to general liability, a broker can find you the best deal on the most protection. That leads us to factor 3. 

Factor 3 - Customizable Coverage

Even in the same niche industry, no two businesses are exactly alike. Businesses have different goals. They have different mentalities, methods, and missions. But business insurance isn’t usually sold à la carte. Plans that fit most will run too large or small on some.

Here again, an independent insurance broker is the best approach. Brokers speak with you about your company and help you determine the coverage you need. 

They may suggest robust professional liability for tech services or Directors & Officers Insurance for your non-profit. Better still—brokers can help you shop for the best plan within your scope and coverage. 

You started your business because you thought you could do it better than the next guy. Why choose the same guy’s coverage?

Other Critical Factors When Choosing an Insurance Partner

The insurance business is like few others. It has unique challenges and advantages all its own. As such, you’ll have to consider both abstract and concrete factors. While you can learn a lot about insurance providers online, some questions require probing. 

Whether you’re searching for employee health plans or commercial liability insurance, make sure to ask about:

  • Claim history for businesses like yours
  • A portfolio of similar businesses
  • Years serving your industry specifically
  • Policy limits and deductibles

At a minimum, the answers to these questions can clue you in on how likely you are to receive bespoke coverage.

Speak with Pepper, Johnstone & Company About Your Business

When the wheel of innovation turns, will your business rise or fall? From within and without, you face damaging claims, bad actors, and spurned customers. You also face uncompetitive employee benefits, commercial auto accidents, injuries and the job, and too much more to list. 

Businesses of every size need an insurance partner who works for them. That way, when the wheel of innovation turns again, you can have a little more confidence about where you’ll be.

Let’s talk about the unique threats and opportunities facing your business. Contact us online. You can also call 866-872-0431 for Athens or 866-872-0431 for Huntsville.

Let’s Get Your Business Protected the Right Way.

From professional liability insurance to commercial property insurance, your plan should be as unique as your business. With industry expertise, half a century in business, and the independence to work with your budget and scope, Pepper, Johnstone & Company can tailor a suit of armor just for you. Ask us about your coverage today.