Buying commercial insurance through Capital Insurance, serving Spokane, WA and surrounding areas, isn’t hard once you know what to bring. Most of it is about proving who you are, what your business does, and how it operates on a day-to-day basis. Proper paperwork helps insurance companies understand your business and its associated risks, which allows them to provide more accurate quotes.
Basic Business Details
Start simple. Every insurer needs proof that your business exists, including your business license, description, tax ID number, and registration documents. If you’re an LLC or corporation, bring your formation papers or operating agreement. Sole proprietors can usually use their DBA certificate and personal ID. The cleaner this part is, the faster everything else moves.
Financial and Property Information
Insurers like numbers, which isn’t surprising. You’ll likely need a few recent financial statements, tax returns, payroll data, or annual revenue estimates that paint a clear picture of your operation’s size. For property coverage, gather records of what you own: building appraisals, leases, and a list of equipment and inventory.
Photos also help, especially if you’ve made safety upgrades or run a low-risk workspace. This makes the underwriter’s job easier by helping them understand your property’s features, including improvements you’ve made to enhance security or structural stability.
Past Coverage and Claims
Bring details from previous policies: coverage limits, expiration dates, and any claims made. It’s part of how insurers assess your insurance history to predict potential risks. Some industries, such as healthcare or construction, may also require permits, safety logs, and inspection reports. If you’ve had a high number of claims in the past, bring proof of improvements you’ve made or training you’ve taken to mitigate future risk.
Having it all in one folder saves time. A seasoned agent can spot what’s missing and fill in the gaps, so you get coverage that fits your unique needs. At Capital Insurance, serving Spokane, WA and the surrounding areas, we’re here to help answer all your questions regarding commercial insurance. Contact us to get started!
