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Are You Paying Too Much for Business Insurance?

Mary Ann Reilly Sr. VP, Customer Marketing & Experience, American Express OPEN Recent Posts

2 Comments

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May 18, 2010

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“It's always very important to compare! I am ...”

calliecal818

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One of the most critical business topics is probably one of the least discussed – and that’s insurance. As a small business owner, you want to preserve your investment in your company, but also ensure that every dollar is spent wisely. The challenge thus becomes maximizing the protection while minimizing premiums.

To help business owners find, evaluate, and possibly save on insurance, American Express OPEN has recently introduced InsuranceEdge, provided by BOLTSM Insurance Agency. With InsuranceEdge, you can compare side-by-side quotes on various types of business insurance from multiple leading carriers. I know many business owners maintain the same policy for years, as it’s often easier to renew than to research other options. With this online service, you can see multiple quotes within minutes, possibly saving you time and money. You can then choose to purchase at your convenience, and even speak with a licensed insurance professional by phone for assistance.

Also, as your business grows and changes, so can your insurance needs. Outside factors like natural disasters and increasing lawsuit awards can affect how much protection is best. So even if you’re satisfied with your current insurance, it could be worth a few minutes of your time to help ensure you’re getting the coverage you need and at the right price.

We’re excited about this new service and want to hear your comments. Did you find comparing quotes easier than in the past? Was it easy to provide your business information? Are there any features that would make this service easier to use? Also add any questions you might have – we’d like to know how we might help.

Mary Ann Reilly is Sr. VP of Partnerships & New Business for American Express OPEN, managing a team of brand, product innovation and business development professionals dedicated to helping serve the needs of the small business community.

Insurance & Advertising Disclosures: This site and the insurance services are offered through Business Owners Liability Team LLC d/b/a BOLT Insurance Agency, a licensed insurance agent that represents the participating insurance companies. BOLT Insurance Agency is not an insurance company. American Express Travel Related Services Company, Inc., (“American Express”) and its OPEN division are not agents of any of the participating insurance companies or BOLT Insurance Agency. American Express will receive compensation from BOLT Insurance Agency in connection with BOLT Insurance Agency’s sale of insurance. American Express is not responsible for the site content, operation, data collection, BOLT's compliance with its privacy practices or services provided.

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Mary Ann Reilly, Article, insurance, InsuranceEdge, American Express OPEN, Mary Ann Reilly

What do you think?

Join the conversation ( 2 )

calliecal818 27 days ago

It's always very important to compare! I am an insurance agent for one particular company, which I try to promote as much as possible but for close friends and family who I sincerely want for them to get the best possible deal I always advise them to ask their broker if they go through an insurance wholesaler such as American Express (https://www.americanexpress.com/) or Agents Advantage ( http://www.agents-advantage.com) or other or insurance intermediaries. It really makes a big difference in how many options you'll get.
Andrea Luoni 1 year 9 months and 8 days ago

What's new about this? That sounds like an independent insurance agent quoting a small business insurance - they have been doing that for years. How about this for a new concept - a business give us a few particulars like their industry and sales and we tell them how much they should be paying for insurance based on the best rates available in their state. A business would always know if they are getting the best deal or paying too much.