Property and Casualty 101

Property and casualty insurance

Question 5

How do you determine what your needs are?

All companies are different. Home-based businesses may have different needs than a traditional brick-and-mortar company with a shop on Main Street. However, all have a need to identify potential risks that they want covered.

Shop the market for Property & Casualty coverage just as you would shop for any other essential business need. Ask questions. Compare pricing and insurance requirements. Align your needs with an affordable product that can best fill those needs.

  1. Consult a licensed insurance agent and a trusted advisor to review your coverage options and competitive quotes from insurance carriers.
  2. Consider the factors that impact your specific insurance requirements.
  3. Choose what you want insurance to cover (your building? machinery? furnishings? customer injury claims?) – and what you probably shouldn’t insure.

Keep in mind:

Workers’ compensation coverage is mandatory in most states for virtually all kinds of businesses, even if a business is home-based.

Next Question: How does a business normally purchase PC coverage?

The information contained in this website represents the products and services available through one of the business groups of Automatic Data Processing Insurance Agency, Inc. (ADPIA). ADPIA services mid and large size clients with various insurance products and services through its other business groups.

All insurance products will be offered and sold only through Automatic Data Processing Insurance Agency, Inc., its licensed agents or its licensed insurance partners, 1 ADP Blvd., Roseland, NJ 07068. CA license # 0D04044. Licensed in 50 states. Automatic Data Processing Insurance Agency, Inc. is an affiliate of ADP, LLC. Certain services may not be available in all states. Certain services are provided through the carrier partners and an additional carrier fee may apply. ADP and the ADP Logo are registered trademarks of ADP, LLC. Copyright © 2016 ADP, LLC.