A: Shop your business. If your current company is doing a great job, the price is competitive and it provides great service, stay with them. But it never hurts to check out what other options are out there. Also, keep complete records of your insurance policies, premiums paid, itemized losses and loss recoveries. This information will help you get better coverage at lower costs in the future.
Q: For what should consumers be on the lookout?
A: If you've remodeled or expanded your office building recently, there's a good chance your insurance needs have changed. Whether you run an agribusiness or a traditional small business company, you may have made large purchases, such as machinery, computers or other equipment that should be incorporated into your policy. Accurate values mean you are adequately covered and it ensures that you aren't paying an excessive amount. Also, it is always best if you can bundle insurance policies together, including business insurance and car insurance for company cars. Insurers will often offer discounts for bundling policies, and buying with one company will make it less likely that your coverage will overlap while saving you time and money.
PAULA BURKES, BUSINESS WRITER