Your Guide to Buying General Liability Insurance Online

From cars to groceries, almost anything can be ordered online — and, in the age of COVID, the world of ecommerce has only grown. While some prefer the experience of visiting a brick-and-mortar business, it’s hard to deny the convenience of online shopping. Despite its image of antiquity, insurance is not excluded from this trend. Insurance companies and brokerages now offer clients the chance to purchase policies online. You might think that the unique liability needs of contracting precludes you from buying insurance online, but that is simply untrue.

Contractors are able to purchase select insurance policies from the comfort of a mobile device, just like anyone else. Online insurance platforms make purchasing a policy so easy anyone can do it, not just the tech-savvy.

What Can Contractors Expect from the Online Insurance Experience?

While insurance most companies do not provide online clients with an insurance agent in the traditional sense, trained staff are often just a phone call away. When purchasing insurance online, the process typically starts with a few questions to produce a quick quote and might end with a phone call to discuss and confirm your purchase. Online insurance providers also offer easy-to-understand material outlining the various types and degrees of coverage available. Contractors can use these resources to select the best policy for their business, gaining a better understanding of their coverage by playing an active role in selection. 

Different factors are considered when calculating a quote, and they are worth mentioning if you would like to better understand your premium. The size of your business — the physical size, number of employees, annual income — all say something about your risk level. Larger businesses typically have increased premiums. How long you have been in business and your claims history also provide important insight on your risk history. As you might expect, fewer claims and more experience, typically means lower premiums. Bear in mind that the information needed by underwriters will vary from insurer to insurer and from policy to policy, so this is just a rough outline of the pertinent information.

Contractors might choose to purchase general liability insurance online because of how the process fits conveniently into their existing schedules. Unlike traditional insurance brokers, online insurance providers allow contractors to browse and purchase policies for their business outside of the 9 to 5 workweek. It’s often fast and on demand which is perfect when you have a business to run.

Insurance is an investment in your business — and a big one at that. If any questions arise, don’t hesitate to consult with a risk manager or speak to an insurance professional for advice.

Purchasing general liability insurance online is convenient and flexible, and contractors who play an active role in selecting their business’s policy are likely to be better informed and happier with their coverage. It is a great option for a busy business owner.