How to Select a Property Casualty Insurance Company

Finding the best property casualty insurance company is tricky. But if you consider the essential criteria a company must have, you will be able you pick the most efficient insurer that will help protect your business from unpredictable events.

What You Should Look for in an Insurance Provider

  • Longevity in the business - Insuring companies that have been doing business in the insurance industry for a long period of time should be considered. Their longevity in the business is an indication that they are doing well. Most likely, it's loyal customers who keep their presence in the market.
  • Customer service reputation  - Find out if the insurer has an excellent reputation in the community. Ask other business owners who purchased a policy from the said company. Call your state's Division of Insurance and check if the entity is licensed or not.
  • Financial stability - Make sure that the property casualty insurance company has excellent financial ratings. You can either inquire this from your broker/agent, or check data from the websites of rating agencies like A.M. Best and Co., Standard and Poor's and Weiss Research Inc. The insurer's financial stability indicates its ability to pay a claim.

 

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