Annual Income- This may be used as a premium factor in relation to other inputs into the carrier’s system.

Annual Payroll- Payroll may be an included coverage in the policy and in the event the business cannot pay, the insurance company would pay payroll. It may also be used as a premium factor.

Business Description- Insurance companies need to know what your business does, what products are sold, what services are offered, etc. to make sure that you are covered.

Business Sector/Industry- What type of work does your business do. Examples of Sectors/Industries include: Agriculture, Auto, Finance, Food, Real Estate, Retail.

Coverage- This helps the agent know if you want standard insurance, cheap insurance, or would rather know that you are covered for pretty much anything.

Current Insurance Company- Coming from another insurance company typically lowers your rate.

Employer’s Liability- Extra coverage for injuries to your employees when workman’s compensation does not apply or is not enough.

Medical Payments- This is a liability coverage. If someone is injured on your property the insurance company will pay up to the predetermined limit per person.

Non-Owned Auto- Vehicles the business doesn’t own but are used for business purpsoses such as an employee’s personal vehicle.

Number of Floors- How many floors does the building you work in have?

Number of Employees- More employees means your business is more liable.

Ownership Structure- Different ownership types create different risks for individuals and their insurance.

Professional Employment Organization- This is a company that lends or leases employees to a company.

Risk- An evaluation of how much an insurance company thinks its going to pay out to a policyholder. If you have high risk, the premium will be higher and if you have low risk, the premium will be lower. Almost every question on an insurance quote is factored into how risky you will be to insure.

Workman’s Compensation- Coverage for injuries to your employees