Business insurance is an important part of any contractor’s financial portfolio. However, with the number of companies offering coverage, it can be hard to weed out legitimate companies from those just looking to make a quick profit. General Contractor License Guide has compiled reviews of some of the most popular insurance companies and brokerages to help narrow the field.
In this CommercialInsurance.net review, you will learn about the company, how they operate, and what real customers have to say about their experiences. This information can help you make an informed decision on whether CommericalInsurance.net is a company you want to work with for your business insurance needs.
Keep reading to learn what we uncovered in this CommercialInsurance.net review.
About CommercialInsurance.Net
Some business owners automatically turn to an insurance agent when they need to buy a new policy or update an existing one. However, many others turn to online resources to get multiple quotes for comparison. This is where CommercialInsurance.net steps in.
It is an insurance brokerage that works with top business insurance providers. As such, brokers have a high level of accountability to customers like you who are looking for affordable and dependable insurance products.
Get a FREE insurance quote from CommercialInsurance.net below:
Pros of Using CommercialInsurance.net
As mentioned, one of the major pros when working with CommercialInsurance.net is that you are dealing with an independent broker who is accountable to you. However, that is not the only reason to consider using CommercialInsurance.net.
The company is also an excellent resource that can help you get a lot of information in one place. Once you obtain quotes, you can easily compare premiums and coverage levels to find a company that fits your needs.
CommercialInsurance.net’s quote process is simple, straightforward, and provides quick results. It also has an A+ rating with the Better Business Bureau, highlighting its reputation for excellent customer service.
Cons of Using CommercialInsurance.net
One of the cons associated with choosing CommercialInsurance.net is that the company is not a direct insurance provider. That means your policy will be written by a different company, which could potentially complicate things and cause confusion. However, it also means that CommercialInsurance.net can focus more on developing customer relationships, leading to a more positive overall experience.
The other major downside is the speed with which policies are enacted. It can take several days before a quoted policy becomes active, potentially leaving your business vulnerable during that time. Additionally, CommercialInsurance.net does not currently have a mobile app, so all interactions and policy changes must be done through the website or over the phone.
Pros:
- Great customer service
- A rating with the BBB
- Independent insurance broker
- simple quote process
- Get multiple quotes with a single request
Cons:
- Not an insurance agent, so you will ultimately work with someone else
- No mobile app for quotes or policy management
- Possible delays in policy start
- Potential for multiple marketing calls after requesting a quote
Types of Commercial Insurance Offered
CommercialInsurance.net does not write insurance policies directly, Instead, they work with a group of trusted insurance companies to help you find a policy with the right coverage and a premium you are comfortable with.
Because they work with several top business insurance providers, CommercialInsurance.net can meet virtually any policy needs you have. Some of the most common types of commercial insurance contractors need include:
General liability — Liability coverage is a critical component of any business insurance package. It helps cover costs associated with legal claims, settlements, and medical expenses if someone is injured on your property.
Commercial property coverage — This policy helps to pay for repair to or replacement of commercial property, such as buildings and grounds, work equipment, and office equipment used to run operations. There are often limits on what type of damages are covered, so be sure to read exclusions before purchasing a policy.
Business hazard insurance — If your business is in an area where natural disasters are prevalent, you might consider adding hazard insurance to your package. This policy covers damages from causes outside of the scope of a traditional property coverage policy, such as floods, hurricanes, or earthquakes.
Workers’ compensation insurance — Workers’ comp helps pay for medical bills, rehabilitation programs, and lost wages if a worker is injured on the job. Most states require employers to carry workers’ compensation insurance on employees, so be sure to check your local laws to ensure compliance.
Commercial auto insurance — Any business-owned vehicles should be covered by a comprehensive commercial auto policy. These generally have higher limits than their personal counterparts, which helps protect company assets.
Business Umbrella Policy — A commercial umbrella policy extends coverage limits for certain other business policies, including auto, general liability, employment practices, and property. It kicks in after your other coverage is exhausted or, in certain cases, when costs are outside the limits of another policy. It is generally an affordable way to bolster coverage across the board.
What Is a Business Owner’s Policy?
A business owner policy is one of the most common commercial policies. Rather than a single policy, this is actually a combination of several standard insurance policies. It most often includes general liability and property coverage. In addition, some insurance companies include business interruption insurance in their BOPs, and others allow you to customize coverage to meet specific business needs.
CommercialInsurance.net’s Quote Process
With a single form or quick phone call, CommercialInsurance.net compiles several quotes on similar policies so you can compare them on your own. This form has three basic steps you’ll need to complete, each asking for specific information.
Let’s take a closer look at the steps involved in requesting a quote from CommercialInsurance.net.
Step 1
You’ll start the process by entering your zip code and confirming your location. Be sure to enter company information in this section and the others going forward.
Step 2
After that, you will be prompted to enter your name and phone number. In doing so, you agree to CommercialInsurance.net’s terms and conditions, so take a few minutes to read through them before hitting submit. You might also want to note the phone number to opt out of marketing calls at this point.
Step 3
This part is a quick form asking for basic business information. Using the form spaces, you will provide the following information about your business:
- Business name
- Industry
- Street address
- Number of employees
- Number of years of owner experience in the industry
- The types of insurance you need, with these included choices:
- General liability
- Commercial auto
- Workers Compensation
- property insurance
- Professional liability?E&O
- Cyber Liability
- Other
- Your email address
Step 4
Once you hit submit, your information is shared with CommercialInsurance.net’s partner agencies. These insurance companies will provide you with quotes based on the information provided. You can contact them directly to purchase a policy.
Learn how to request a free quote for commercial insurance here.
Phone Option
The online quote process is not for everyone, and CommercialInsurance.net understands if you prefer to speak directly with a representative. Agents are available Monday through Saturday from 7:00 am to 7:00 pm (central time) to take your call. In addition to answering questions, representatives can provide you with an instant quote during your call. They can be reached via phone at: 405-267-4607
CommercialInsurance.net’s Insurance Provider Partners
Having a positive experience getting a quote is great, but you also want to ensure your coverage is with a respected insurance company. This is where CommercialInsurance.net’s partner agencies enter the picture.
Since CommercialInsurance.net serves as an insurance broker, your policy will be provided by another company. CommercialInsurance.net works with some of the top business insurance providers in the industry. Their list of partners includes:
- The Hartford
- Progressive
- Liberty Mutual Insurance
- Gallagher
Be sure to research each company that provides a quote so you can make an informed decision about coverage options.
Is CommercialInsurance.net Legitimate?
Working with an online insurance brokerage can raise some questions. In fact, we often hear, “Is CommercialInsurance.net legit?” We can happily answer in the affirmative; CommercialInsurance.net is a legitimate company based in Oklahoma City, OK, serving as a commercial insurance brokerage.
CommercialInsurance.net has been a Better Business Bureau accredited business since 2010. It has an A rating with the BBB based on minimal complaints over the past year.
There are many other companies that offer similar services. For example, both CoverWallet and Next offer commercial insurance policies for contractors and other building professionals.
You can learn more about these and other alternatives by reading our other business insurance provider reviews.
What Customers Say
Customer CommercialInsurance.net reviews are overwhelmingly positive. There are many references to excellent customer service and responsiveness. Here’s what some actual customers had to say in their Google reviews:
“Helped me get what I needed, the least amount of coverage at great low rates and very helpful in conversation over the phone, I say many thanks 👍 for helping me out! I won’t hesitate to recommend you to my contractor buddies if the need should arise.” — Rutherford NJ Drywall Repairs
“I have had the best experience ever getting Workman’s Comp Insurance. I recommend them to any small business wanting to grow.” — Rona Tankard
“The agent was competent, knowledgable and efficient. He exceeded my expectations insofar as the speed in which he was able to generate a quote and process the policy once agreed upon. I recommend them to any small business that need GL coverage.” — Darryl Outing
In addition to positive reviews, CommercialInsurance.net also has high customer review scores. A few of its customer ratings include:
- BBB: 4.2
- Facebook: 4.3
- Google reviews: 4.8
These ratings are based on numerous positive customer reviews, so they provide a quick snapshot of what you can expect when interacting with the company.
However, not every customer will be happy. For example, in one Google review, a potential client expressed her frustration by saying:
“I just wanted a quote but kept getting transferred over and over again. I went from agent to agent verifying my information on each call. This happened 6 times. I just politely declined to answer anymore of the same questions after speaking to the last agent.“
This shows that you will need to use your judgment and decide based on your own experience with the company.
What To Expect
When getting a business insurance quote from CommercialInsurance.net, you can expect excellent customer service and a simple, quick quote process. Once your request is submitted, you will receive multiple quotes directly from partner insurance companies. You can then make a decision about which one is best for your business.
Business Insurance Rates
CommercialInsrunace.net connects you with multiple partners so you can shop around for the best rates. However, it would be best to remember that business insurance premiums can vary greatly. Several factors influence how much you will pay, including:
- Industry
- Business location
- Claims history
- Size of business
- Business volume
- Type of coverage
- Policy limits
Getting a quote is the best way to know exactly how much you’ll pay. This will tell you exactly how much your business will pay for the size and type of policy you want. However, knowing industry averages can help you get an idea of what to expect.
Here are some average annual premiums ranges provided by The Balance:
- General liability insurance — $825*
- Commercial umbrella policy — $1601
- Commercial auto coverage — $1704
- Workers’ compensation insurance — $3264*
- Business owners policy — $636
* These rates are specific to construction and building-related industries. All other averages include businesses from all industries, which may accurately reflect what a contractor will pay for commercial insurance.
It is helpful to remember that these are averages from other businesses’ information. Your premiums will reflect the risks associated with covering your business. When requesting a quote, provide clear and honest information for the most accurate results.
Bottom Line for Contractors
CommercialInsurance.net makes buying contractor business insurance simple. As an independent insurance broker, it provides quotes from multiple insurance providers so you can select the policy and premium that best meets your needs.
After conducting this CommercialInsurance.net review, here’s the bottom line. If you prefer to get multiple quotes from a single contact form, then CommercialInsurance.net may be a good bet for you. However, if you prefer to research an insurance provider before making contact, you may be better off using a more direct approach to business insurance.
References: Better Business Bureau, The Balance