Cover Charge

A qualified insurance professional can make the process a lot easier by guiding you to the coverage you need. "Personal referrals are your best resource for finding an insurance professional," says Gene Fairbrother, a consultant with the National Association for the Self-

Employed. "Call friends and people you know in the same business as you and ask for suggestions."

Sean Mooney, a senior vice president with the Insurance Information Institute, advises contacting your industry or trade association. In addition to providing referrals, some associations offer discounts on insurance or special insurance packages for members.

"Find a professional, qualified agent who understands your business's insurance needs," says Jim Belobraydic, a vice president with CNA Insurance Cos. in Chicago. "Make sure the agent represents at least one [insurance] company that specializes in your industry."

It's also a good idea to conduct an investigation of any company you're considering. Contact the Better Business Bureau, and call the state insurance commissioner or department to make sure the company is licensed to operate in your state.

Mooney also recommends checking the financial backgrounds of insurance companies, using publications such as Best's Agents Guide to Life Insurance Companies or Insurance Reports, Moody's Corporate Profiles, and Standard and Poor's Corporation Records. All are generally available in larger libraries.

This article was originally published in the February 1996 print edition of Entrepreneur with the headline: Cover Charge.