Finding and Buying Insurance

Insurance brokers who gather information from different insurance companies can help you decipher policies and determine the best deal for you. Be sure to find a reputable broker, however, since they receive commissions from insurance companies. You need to be sure you have an agent that is looking out for your needs at least as much as his or her own.

Make sure your broker understands the nuances of your specific business activities and the risks that are, or may be, involved. Preferably, use a broker who specializes in policies for your type of business.

You may be surprised to learn that specially tailored policies exist for your type of business. For instance, a "producer's package policy" for filmmakers covers several risks unique to the film business, such as the costs of a production -- often in the tens or hundreds of thousands of dollars -- in case your negatives are destroyed. An insurance broker who knows your type of business will be able to direct you to these specialized policies, while a run-of-the-mill broker may not.

You'll probably encounter insurance companies that offer package deals, which can be cheaper than buying several individual policies separately. As long as all your needs are met, these package deals can be a good way to go. As always, be sure you understand the extent of coverage in each area rather than relying on any promises that a particular package covers "all your business needs."