CoverWallet Review – Business Insurance

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To manage and organize the insurance of a business may not be as simple as many might think.

Traditional practices involve having many documents archived and stored in cabinets, which is a nuisance when you need to access them. In a digital age, it is to be expected that there are solutions even for problems like that.

CoverWallet is an online platform launched in 2015 that has developed insurance management services for its clients, designed for small businesses. Through the platform you can identify the insurance policies you need according to your specific business, obtain a policy that fits your budget and/or manage your existing policies.

How Does CoverWallet Work?

On the same home page, you get a link to enjoy a free quote, once you sign in you must fill out a form where you specify the type of insurance you need or use, business data, locations, workers’ compensation, among other things.

Get the free quote, or apply to receive offers from them.

Additionally, this online company has an excellent customer support service, which you have access to via email, telephone or life support. When you are completing the online form you can see the personal advisor who is assigned to you.

Stands out from other alternatives the fact of having a free trial.

But things go the other way around when you need to get the price for their services. In this case, the cost of the service will be determined according to your needs as a client as CoverWallet never offers a flat fee.

Remember that this software is preferably applicable to small businesses and growing businesses, but they don’t have the capacity to take over for major companies –So, this service isn’t for you Bezos.

Products

Each of its products is part of the range of business protection opportunities, below, some of its outstanding products:

Compensation for Workers:

Is a requirement for most companies with non-owner employees, and protects your employees when they are injured in the workplace.

It covers the lost wages of an employee, also medical expenses due to work-related injuries or illnesses (occupational), as well as protecting your company from being sued for working conditions that cause both injuries and illnesses.

Business Owners Policy (Bop):

This kind of policy combines all the coverage that a business owner needs.

Frequently, BOPs include civil liability, property insurance, and business interruption and insurance against crimes, in this case, you can modify the package thinking about the particular needs of your company.

Normally, this policy is cheaper than buying each coverage individually.

Insurance Against Crimes:

The insurance against crimes covers your company for the losses resulting from criminal acts, in addition, it covers certain losses that the commercial property insurance does not cover in circumstances of this type.

For example, there are commercial property insurance policies (the majority) that exclude coverage for thefts committed by business employees, nor do they cover losses or damages to currency, money, food stamps, securities, and similar goods.

So, when Is CoverWallet An Option?

  1. CoverWallet’s advisory tool, as well as professional assistance, will help you reduce the risks of your new company by providing expert recommendations and average prices.

Using it is easy: you only have to provide basic information about your business, such as location, sector, and size.

  1. A common requirement to start contracts is to provide the outside party with proof of insurance coverage, and this process may take more time than is available with a traditional intermediary.

This digital platform allows you to log in and request a COI with all the necessary information at any time.

  1. Likewise, when you work with third parties, the insurance requirements for them are verifiable through the CoverWallet platform.

You can request a proof of online coverage and configure your requirements, stay up-to-date with a control panel and notifications and see who has provided your certificate, if it meets the prescribed requirements or if it requires an update, a valuable tool for long-term partnerships.

At the End

We can qualify this platform as a valuable tool in relation to administrative management, more specifically affordable business insurance.

CoverWallet works in conjunction with several major insurance companies in the United States, including Liberty Mutual, Berkshire Hathaway Guard, Starr, Atlas, Markel and Hamilton; and to ensure that this product works for you, you can take advantage of the free trial.

Do not overlook this, not all administrative products work for all companies and most of the products in this line of work do not offer a free trial at all.

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