What Are the Steps to Obtain Mississippi Business Insurance?

As a business owner in Mississippi, you may wonder what steps to follow to obtain the best coverage for your company. At Hawsey Insurance, we believe in customer education. So, if you have any questions regarding Mississippi business insurance, one of our licensed, experienced agents can help.

In the meantime, we’ve listed four steps to help you stay on track as you research your options for commercial coverage:

  1. Know your risks. What kind of natural disasters, lawsuits, injuries, or other events could potentially threaten your business? The National Federation of Independent Businesses (NFIB) provides a comprehensive list of criteria that you should consider based on your industry, business size, and location.
  2. Find a trustworthy licensed agent. Hawsey Insurance commercial agents focus on the needs of small and large businesses in our coverage area. As independent insurance brokers, we have access to a wide array of business insurance companies and policies. We also handle the insurance needs of clients in multiple industries, making us one of the most well-informed insurance companies in Mississippi.
  3. Shop around for the best rate and coverage. The price of an insurance policy can vary wildly from one company to the next. Fortunately, when you partner with Hawsey Insurance, we present you with the best rates, terms, and coverage across multiple companies.
  4. Schedule an annual review. A lot of things can change for a business in a year’s time. You could upsize or downsize your business or expand your products and services. That’s why we invite clients to come into one of our offices for a free policy review each year.

Keep in mind that as your business grows, so do your responsibilities and liabilities. For example, if you buy new equipment or expand your retail space, it’s important to understand whether your current policy adequately covers you.

6 Most Common Types of Business Insurance

Although we offer a wide variety of products to customize your coverage, here are six essential types of coverage you’ll most likely want to include in your policy:

  1. General liability insurance is great coverage to consider for any business. It protects you against financial loss based on property damage, bodily injury, slander, libel, and legal representation in a lawsuit or settlement.
  2. Product liability insurance protects your business if you design and manufacture your products. Whether you are a distributor, wholesaler, manufacturer, or retailer, this coverage protects you if a defective product causes injury or property damage.
  3. Professional liability insurance is tailor-made for businesses that provide services to clients or customers. For example, if you are a healthcare provider, professional liability insurance protects you against malpractice lawsuits. If you are an accountant or lawyer, you may need errors and omissions insurance to protect you against potential mistakes. This coverage also shields you against negligence related lawsuits.
  4. Commercial property insurance is essential for businesses that have valuable physical assets and property. It covers you against losses due to smoke, fire, hailstorms, vandalism, and civil disobedience.
  5. Home-based business insurance protects your business if you operate out of your primary residence. Most home insurance doesn’t cover business equipment or liability related to operating a business out of your home, and this coverage helps you bridge the gap.
  6. Business owner’s policies or BOPs usually incorporate several kinds of insurance. They are designed for small businesses that wish to save money based on multiline discounts.

Book an appointment at Hawsey Insurance to get the appropriate Mississippi business insurance. We proudly serve Mississippi and the surrounding states.