How to Get an Accurate Business Insurance Quote (What You’ll Need?)
Obtaining a business insurance quote becomes easier and quicker when you are well-prepared. Insurers assess your operations, assets, claims history, and personnel to determine the appropriate price and coverage. Avoid uncertainty—collect the necessary information below to receive a dependable, customized quote on your first attempt.
The essentials: what insurers always ask for
Most business insurance quotes require basic information about your company, including:
Business address and the states where you operate
Industry/trade and a clear description of daily operations
Owner(s) experience and business structure
Annual revenue or gross sales
Insurers use these details to evaluate risks. Two businesses in the same industry can receive different quotes. This difference often arises from variations in their operations. For example, residential cleaning services may be priced differently from commercial cleaning services.
Employee information (workers’ comp)
If you have staff, expect to provide:
Number of employees (and payroll amounts)
Annual payroll by job class (or estimated payroll)
Subcontractor costs (if you use subcontractors frequently)
Workers’ compensation is required for most employers — having accurate payroll figures helps ensure correct premiums and proper coverage.
Tools, equipment, and inland marine specifics
If your business relies on portable equipment, your quote may include inland marine or equipment endorsements. Be ready to detail:
Types of equipment and building materials you use
Any tools or equipment valued over $1,000 (make/model/serial numbers if available)
Portable computer equipment (laptops, tablets) you take off-site
Properly valuing your tools and materials helps prevent surprises during a claim. It ensures you receive full compensation if your gear is lost, stolen, or damaged.
Claims history matters
Insurers will ask about prior claims because your loss history affects pricing. Helpful items to collect:
Number of claims in the past 3–5 years
Dates of each claim and the paid amounts
Any professional liability (E&O) or similar demands
If you don’t have records on hand, you can often request your claims history from prior carriers.
Property information (for BOP or commercial property quotes)
If you’re insuring a physical location, gather property details:
Building age and square footage
Construction type (brick, frame, metal)
Safety features (sprinklers, alarms, firewalls)
Whether you share the building with other tenants or occupants
Mortgage or lender information (if applicable)
Properties with modern safety systems or fire-resistant construction often receive better rates.
Additional insureds and certificates
Many clients, landlords, or vendors will require you to add them as an “additional insured” on your policy. Be prepared to provide:
The additional insured’s name and address
Any contractual language or certificate requirements
Having this info ready upfront speeds up issuance of certificates once your policy binds.
Quick checklist to speed up the quoting process
Before you request quotes, collect:
Business name, address, and NAICS/SIC code (if known)
Federal EIN (if applicable) and owner contact details
Number of employees and annual payroll
Recent revenue / gross sales figures
List and values of major equipment or inventory
Prior insurance carrier and claims history
Any contract requirements (additional insureds, limits, certificates)
Shopping for quotes: tips that save time and money
Compare more than one carrier — underwriting varies by company.
Work with an experienced agent who understands your industry — they can match coverages and limits to your risk.
Bundle policies (BOP, commercial auto, workers’ comp) to access discounts.
Ask about endorsements such as inland marine, professional liability, or cyber liability that protect specific exposures.
Don’t worry if you don’t have everything
If you’re missing a few items, most quote systems allow you to save a profile and complete it later. An agent can also walk you through what’s essential now versus what can wait.