Our Insurance Process
Securing insurance for your food or beverage business can be confusing. Below we break down our insurance process into simple steps, so you can gain a clearer understanding of the insurance products we offer and how our insurance process works. As always, please contact us with questions.
- General Liability
- Product Liability
- Umbrella Liability
- Commercial Building
- Commercial Property (Inventory, Packaging, Ingredients)
- Product Recall
- Cargo/Transit Coverage (Sea and/or Land, Domestic, Foreign)
- Stock Throughput
- Workers Compensation
- Commercial Automobile
- Directors & Officers Liability
- Employment Practices Liability
- Liquor Liability
- Surety Bonds
- Crime Coverage
- Equipment Breakdown (Boiler & Machinery)
- Some coverages can be offered as a package under one policy number
- Basic Information on your business
- Product labels are usually required
- Website and Facebook review
- Applications may need to be completed for a quote depending on coverage offering
- All information is only submitted to insurance carriers for quotation and is confidential
- We can and do sign NDA (non-disclosure agreements) if required. We value your information
- Loss History of your business if you have existing insurance coverage
- Verbal premium expectations can be given where it is appropriate
- Formal quote is only way to get firm insurance terms and premium charges
- We send you a formal quote outlining coverage
- Quotes are usually good for a 30 day period
- For quotes older than 30 days it often does not require a new submission unless there have been changes to your operation
- Quotes are given for annual premium charges in most cases
- We think you will feel very comfortable with this process. No hype, no pressure just solid information so you feel confident in your decision.
- Some quotes can be done same day but expect 24 hours if we can quote your business in house. When applications need to be submitted to others for a quote, expect 3 to 5 business days.
- Get started on an insurance quote.
- Applications can be signed electronically
- Insurance company payment options vary with the product and insurance company used
- Premium financing is available for many product types if the insurance company requires an annual payment
- Credit card payment of down payments can be made
- Factor in a 25% to 35% down payment depending on product, insurance company and billing frequency
- Policies are usually for a 12 month period.
- Some policy types need to be renewed each year and some automatically renew
- All policy types that are based on sales or payroll require an annual premium audit
- We become your independent agent or broker
- We are your source for questions of any type
- Claims are reported to us or to your insurance company directly
- Certificates of Insurance, Insurance Binders and other forms of proof of coverage are done in our office
- Most service requests are executed within 24 hours of request
- Weekend and evening requests can be accommodated when required
- We never charge a fee or a tax for any service, we are paid by the insurance company directly and it is part of the premium you pay
- We review insurance specifications for Certificate of Insurances (COI)
- We can add product lines as you need them
- We will post your website link on our site for added SEO
- We will post your News on our Facebook and Google+ pages
- We will do our best to help you find information to solve your non insurance challenges
- We use LinkedIn and are happy to pass along our contacts to you based on your need
- We periodically attend shows to keep track of trends in the industry
- Startup Spice Rub- $20,000 sales, General Liability only- $425 per year
- Seafood Company-$90,000 sales, General Liability only-$1300 per year
- Baked Goods-$15,000 sales, General Liability only- $425 per year
- Specialty Beverage- $500,000 sales- General and Umbrella Liability- $2500 per year
- Candy Company – $10,000,000 sales, $500,000 limit, -Product Recall- $6,700 per year
- Importer- $200,000 inventory- Property only- $1500 per year
- Hot Sauce- $21,000 sales-General Liability, Limited Product Recall, Property -$881 per year
- Health Product/Supplement-$150,000 sales-Product Liability-$6,700
- Importer Frozen Foods-$500,000 sales-Product Liability-$1,706 per year
- Importer/Grain-$200,000 sales- Product Liability-$1,698 per year
- Specialty Beverage-$450,000 transit amount-Stock Throughput-$3,970 per year
- Specialty Beverage-$500,000 sales-General & Umbrella Liability-$3,211
- Food/Drink Event organizer- $20,000 sales- Liquor Liability- $1,100 per year
- Specialty Beverage-$15,000 sales, General Liability, Property, Limited Auto- $636 per year