What You Need to Know to Get the Right Type of Insurance

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Protecting your business against insurable risks starts with ensuring you have the right information from the get-go. When you need to make a claim, the last thing you want to hear is that there’s an error that will delay payment.

With us on the show today is Kenny Hollingsworth from Brock & Associates Insurance, to give us insights into the essential pieces of data and factors you should consider for different types of insurance. Kenny has been in the business for over 26 years and specializes in commercial and business insurance. He helps clients mitigate office risks, lessor’s risk, group health insurance, and many more.

Brock & Associates Insurance is located in Hendersonville, North Carolina, and operates in three states: North Carolina, South Carolina, and Georgia.

Key points

  • Five pieces of data that you have to know to get the right type of insurance for your business
  • Correct identification of your business is the starting point for any business quote
  • Your corporate structure could affect your insurance requirements
  • The majority of commercial insurance situations are rated based on payroll estimates
  • Low-risk and high-risk business classifications
  • North Carolina’s Workers Compensation (Assigned Risk) Insurance Plan
  • General liability and workers compensation
  • When does gross sales revenue become a determining factor?
  • Understanding the rule on minimum of three employees for workers compensation
  • Questions to ask your insurance agency before you get a policy
  • The value of a second opinion
  • Make sure you’re doing business with a company that’s A rated or higher

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