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Tuesday, February 18th
CoverWallet is affiliated with Aon, a well-established company offering retirement, risk, and health solutions. This platform serves as a referral service with the objective of connecting small- and medium-sized businesses with tailored insurance coverage pertinent to their respective industries.
Choose among many types of business insurance
To get quotes from multiple insurance providers, click "Get Instant Quotes”. From there, you can optionally provide your email address for follow-up, and then choose which types of insurance you need a quote for. The choices include:
And the list goes on. As you're deciding on what coverage you need, you can choose more than one.
Takes about 5 minutes to answer all questions
Next, you'll respond to several questions regarding details such as the industry type, number of employees, name and address, establishment year, and estimated annual revenue, and then specify the type(s) of insurance for which you seek quotes. Finally, it will ask you about your coverage requirements and provide a quote. The whole process takes about five minutes, but there were parts, such as entering the exact street address of the business, that could have been smoother.
Advisors are on standby to answer questions
In case you are uncertain about your requirements or have unanswered questions, the site provides the name, photo, and contact details of a CoverWallet advisor on every page of the quote process. Working with an advisor to secure your business insurance coverage comes at no additional cost.
A phone call may be necessary
Similar to our experience while evaluating other insurers, depending on the business scenarios we tested, we sometimes received a message indicating that no online quotes were available when completing the application for General Liability coverage. CoverWallet went on to suggest that "there may be a number of options available by phone".
You'll love it or hate it here
Customer feedback needs to be more consistent in CoverWallet's case. Despite bearing an "A+" rating and accreditation from the BBB with a 4-star average, users reported more than one problem relating to abrupt policy cancellations and challenges in getting the necessary documentation to get coverage. On Trustpilot, the customer ratings and responses were significantly more dire, with 93% 1- and 2-star ratings.
Negative feedback may be misplaced
However, it's essential to note that, as a referral service rather than an insurer, these issues were likely linked to the companies issuing the business insurance policies rather than being the fault of CoverWallet. Notably, the service has made considerable improvements in reputation since our prior review, transitioning from a "B" to an "A+" with the BBB.
Decent option for getting quotes from multiple insurers
Due to the enhancements made by CoverWallet since our last evaluation, and maintaining its BBB rating since then, the company holds solid in its ranking here. CoverWallet should consider making further changes to improve the experiences customers are having. In the meantime, if you're satisfied with getting either referrals or purchasing direct coverage, CoverWallet seems to fit the bill.
In a world becoming more legally sensitive, protecting your company from accidents, property damage, or injuries is critically important. It plays a pivotal role in safeguarding a business against a a myriad of risks. And in many states and industries, it's not just a good idea but something you have to do.
Even where it's not required, business insurance is a popular idea. In today's world, companies operate in an environment fraught with risks, ranging from natural disasters and accidents to legal liabilities. Without insurance, these events could lead to substantial financial burdens that might cripple or even bankrupt a business. Insurance policies act as a financial cushion, ensuring that a business can recover and continue operations.
The insurance needs for any business can vary depending on its size. For example, small businesses often have different challenges compared to larger ones. Meeting the insurance needs that big companies can handle with lots of resources can be harder for small businesses. That's because small businesses don't have as many employees, accountants, and lawyers.
The legal landscape is another area where business insurance is indispensable. Liability claims and lawsuits are commonplace in the business world. Without adequate insurance, legal expenses and settlements can pose existential threats to a company. Insurance policies focused on professional liability, general liability, and other specific risks mitigate the financial impact of legal challenges, allowing a business to focus on their core activities rather than litigation.
But figuring out the right insurance can be confusing. After all, it's not an "exciting” business expense, protecting yourself against situations that you hope don't happen, but it's a big help when unexpected things do.
So, how can you figure out the exact coverage and how much you need? Instead of going to a local agent right away, who might not know a lot about small businesses, people are increasingly turning to online searches to find an insurance company with knowledge and specialty in the business world.
As you look into different places to get business insurance, keep these things in mind:
Today's market has a bunch of top business insurance providers, and the experts at Top Consumer Reviews have researched and ranked some of the best-known names in the industry. Our goal is to help you get the coverage your company needs to protect it from expensive lawsuits, liability issues, and unexpected problems.
Select any 2 Business Insurance Providers to compare them head to head