Springfield, IL Business Insurance

(Find the right business insurance policy for you.)

Written by Steve Dahl
Written by Steve Dahl

Steve is a financial services expert who has dedicated himself to the insurance industry for the last 5+ years. Steve is a key contributor to TrustedChoice.com.

Business man looking at mobile phone

As the capital and second most populous city in Illinois, Springfield is a great place to start a new business. Often, there’s a lot of money involved in getting a new enterprise off the ground. To cut back on costs, you may consider forgoing business insurance or buying a bare-bones policy. While that may be tempting, it’s best to find insurance that can protect you from risks your company faces. It’s true that insurance isn’t a tangible product – it’s more accurate to think of it as a safety net for the future. As your success increases, so does your risk. If you still have a tiny net, there’s a chance that you might land hard. How can you find affordable insurance that provides the coverage you need?

An Independent Insurance Agent in our network has access to several top insurers, so there is a high likelihood you’ll find the coverage you need at a price that works for you. You might even end up paying less for better coverage than you had before. If you need insurance, contact a local member agent to find a policy and compare Springfield, IL business insurance quotes. These numbers are based on a two-parent, one child budget:

  • Housing: $623
  • Food: $514
  • Taxes: $281
  • Healthcare: $244
  • Childcare: $608
  • Transportation: $468
  • Other necessities: $273

If you’re raising a family in Springfield and have your own business, it’s important to factor in your needs and budget along with those of your company. A major hit to your business’ finances could have ramifications for your family as well. Furthermore, your employees have families and costs they need to cover, so knowing what kinds of benefits you can offer them may help you attract and retain the best workers. This is where insurance can be a tremendous help.

Springfield business insurance can help you build a bright financial future and securely build your workforce. A member agent in our network can help you purchase a package of insurance coverage that can help you plan for tomorrow, and make sure all the hard work you’re doing today isn’t lost to a flash flood or theft.

How to Save Money on Springfield Business Insurance

Even though Springfield is considered an affordable city to live in, it can seem daunting to start a business and pay for insurance. The good news is that there are ways to save money while still getting the coverage you need. One of the best ways to find affordable Springfield commercial insurance quotes is to work with an independent agent. Your agent can compare policies and prices from multiple insurance companies to find the right fit for you. Other options that will allow you to save money on insurance include:

  • Only buying the coverage you need
  • Increasing your deductibles
  • Asking about discounts for safety measures and specialty training for employees
  • Paying your premiums annually instead of monthly

Save on Business Insurance

Our independent agents shop around to find you the best coverage.

How Are Costs Determined for Springfield Business Insurance?

Insurance is a risk-based business, and each company faces unique risks based on location, size, and nature of the business. The more risks you face, the more likely it is that you will need to raise your coverage limits to protect your bottom line. When you search for Springfield business insurance, the insurance company will take certain information about your business and use this to determine your premium.

The likelihood of loss and how much a potential claim could be are measured by the insurance company before they insure you for coverage. The higher your likelihood of loss and the more you have to insure, the higher your premium will be. For example, if you’re seeking property insurance in an area of town known for crime, your rates may be higher than a business in a quieter neighborhood. Insurers will also look at the type of business you run – so, if you’re serving alcohol in your restaurant, your rates may be higher than a small IT startup with 2 employees and a few laptops to cover.

Finding the Best Springfield Commercial Insurance Quotes

Getting the best insurance rates might take some work. You can do things like develop a worker safety training program or run daily safety inspections. You can begin using safer materials and install top of the line security cameras and sprinkler systems. The number one way that you can find affordable Springfield business insurance is to work with a local independent agent in our network.

Member agents don’t work for one insurance company, like a captive agent does, so you can be sure your agent is always working with your best interests in mind. An independent agent is a personal insurance consultant that will take the time to understand what your insurance needs are. Your agent will work to find a policy that best suits your business and budget. 

If you need Springfield business insurance, contact a local member agent today for personalized assistance.

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