Business insurance is something every enterprise needs to consider. States determine laws shaping coverage requirements. Here are 9 legal documents you must present to your insurance provider when you apply for business insurance in Mesquite, TX.
Information on Business Location
Your business location matters in several ways to your insurance agency. Be prepared to provide addresses for each business location, along with information about its size and the building materials from which it was made. If you rent space, provide the names of landlords and their addresses.
Details of Company Vehicles
The title document is used as proof of vehicle ownership, making it a necessary record while applying for your application. You should provide other information about your vehicle, such as the year, make, model and color. Write down your vehicle identification number, which you’ll need as well.
For coverage such as workers’ comp or health insurance, prepare a list of employee names, addresses, birthdates, and social security numbers. You’ll also need to provide details about each worker’s family members.
You may be asked to provide bank account and credit information. An insurance company tries to minimize its own risks by avoiding entities with a poor credit history.
Record of Business Assets and Liabilities
Business assets and liabilities can be expressed in various formats, but generally, they are expressed on a balance sheet. Some insurers may require a list of specific business assets such as vehicles, as well as liabilities, such as pending lawsuits, before providing business insurance.
You’ll need to bring your driving license of the employees who would be responsible for driving the company’s vehicles and other driver-related documents. The insurer may also want to see certifications for operating specialized industrial vehicles.
Existing Insurance Policies
If you are switching from one insurer to another, you’ll need to inform the new insurer about your existing policy. Do commercial insurance companies already share claims history information with each other? Yes, through a database called C.L.U.E.
Business Registration and Incorporation Documents
Depending on the insurance company, you may be asked to bring your business registration documents, your company’s certificate of incorporation, and articles of association.
Health and Safety Policy Documents CTA
To prove your business practices risk management, you should provide a health and safety policy manual for your staff.
Do you want to apply for business insurance but are still not sure how to proceed with it? Contact our insurance experts at Family Financial Insurance Group to learn more about applying for business insurance in Mesquite, TX.