Why does my business insurance premium change from year to year?

🧠 As your business evolves, so does your risk profile. Factors like increased sales, payroll, subcontractor use, or changes in your claims history can impact your premium. More sales usually mean more exposure for the insurance company, which can result in a higher cost.

Why does my agent request “Loss Runs”?

🧠 Loss Runs are reports showing any claims made on your policy — including amounts paid. Even if you’ve never had a claim, underwriters use Loss Runs to assess your risk and accurately price your coverage.

Will filing a claim raise my rates?

🧠 It depends. Insurance companies typically review a 5-year claims history. A single, well-explained claim might not cause a major issue. But frequent or recurring claims can signal higher risk, which may lead to increased premiums.

I own a small Texas business. Do I really need Workers’ Compensation if it’s not required?

🧠 Yes. Even though Texas doesn’t mandate Workers’ Compensation, it’s smart to carry it. Not only does it help cover employee injuries, but it also includes Employers Liability Coverage — which protects you from lawsuits related to workplace accidents.

Why do insurance companies perform audits?

🧠 Audits help carriers verify that your actual sales, payroll, or operations match the estimates provided at the start of your policy. If your revenue doubled, for example, the insurance carrier took on more risk than expected — and will adjust the premium accordingly.

Does my current insurance agent care about my business?

🧠 Unfortunately, some agencies only focus on accounts over $100,000 in premium. If you’re a smaller business, you may not be receiving the attention or competitive pricing you deserve.

What information do I need to get a quote?

🧠 To receive an accurate quote, you’ll need:

• Copies of current policies

• 5 years of Loss Runs

• Current drivers & vehicle list

• Estimated payroll & sales

• Your company’s FEIN

• List of additional insureds

There’s no real shortcut — but we’ll guide you every step of the way.

Can I switch insurance providers mid-policy?

🧠 Yes, you can. Most business insurance policies allow for cancellation at any time — and any unused premium is typically refunded on a prorated basis. Be sure to line up your new policy first to avoid coverage gaps.

What’s the difference between General Liability and Professional Liability?

🧠 General Liability covers physical damage or bodily injury (e.g., someone slips at your office).
Professional Liability (also known as Errors & Omissions) protects you if a client claims your advice or service caused them financial harm. Many businesses need both.

Can I bundle multiple policies to save money?

🧠 Absolutely. Bundling General Liability, Property, Auto, and Workers’ Compensation with one carrier can lead to multi-policy discounts — and make renewals and claims much simpler to manage.