Applying for business insurance for the first time can feel complicated — especially if you’re not sure what insurers need from you to provide a quote. But the process is pretty straightforward, and you likely already know a lot of the information you need to apply.

Insurers use a range of business details, from company structure and revenue to cybersecurity practices, to assess risk, determine pricing, and recommend the right coverage. 

Being prepared with the right information not only speeds up the quoting process, it also ensures you’re getting coverage that fits your business’s actual needs. 

Here’s the type of information you’ll usually need to submit to get a business insurance quote.

Your Business Basics

Insurers need foundational business details to evaluate your risk and classify your company accurately.

It’s all fairly basic information about the company, but missing or incorrect details that need to be corrected (like a wrong address) can mean extra steps steps later on, so it’s important to get it right.

• Your company’s legal name and website
• The primary industry or business activity
• Your legal structure (e.g., LLC, Corporation, Sole Proprietorship)
• Where your business operates (including multiple locations, if any)
• The date your business was founded

Team and Ownership Details

Your leadership and ownership setup influences how insurers assess risk related to governance, employment practices, and liability exposure.

Insurers use this information to evaluate management-related risk and determine the need for coverages like Directors & Officers (D&O) insurance.

• Names and roles of founders, executives, and key team members
• Ownership structure and equity distribution
• Total number of employees (including contractors and part-time staff)
• Benefits offered and workplace policies (like documented HR procedures)
  
  

What Your Business Does

Every business operates differently — and those operations come with different risks.

Giving insurers a clear understanding of what your business does helps them recommend the right coverage types and limits. Misstating your activities can lead to denied claims or overpriced policies.

• Description of your products or services
• Primary revenue streams (subscriptions, sales, commissions, etc.)
• Value of current assets
• Customer base (B2B, B2C, or both)
• Active markets or geographic regions
  
  

Cybersecurity and Compliance Info

Cybersecurity and regulatory compliance are growing concerns for insurers. It’s not just digital-first businesses: any company that handles customer and partner data needs to have the right protections in place.

Detailing your security protocols helps insurers evaluate exposure to cyber risk and regulatory penalties. Strong controls may lead to more favorable terms and pricing for coverages like Cyber Insurance.

• Key third-party vendors (cloud providers, payment processors, etc.)
• Overview of your cybersecurity measures (encryption, MFA, etc.)
• Regulatory compliance frameworks you adhere to (HIPAA, PCI-DSS, GDPR)
• Types of sensitive customer data you handle

Your Current Coverage and Claims History

Sharing your current insurance setup and claims history helps insurers identify coverage gaps, avoid overlaps, and tailor policies to your needs.

This also impacts pricing and underwriting, particularly if you've had past claims.

• Existing policies (types, carriers, limits)
• Claims history (notable past claims, if any)
• Coverage needs based on contractual requirements

Financial Information

Financial data helps insurers understand the scale of your business and the potential magnitude of risk.

Accurate financials support better-calibrated coverage recommendations — especially for startups, high-growth companies, or businesses with complex capital structures.

• Recent annual revenue
• Funding history (total raised and details of recent rounds)

Comparing Business Insurance Quotes

Once you’ve submitted your information, you’ll want to take a close look at the premiums and coverage limits to make sure you’re getting a policy that fits your needs.

Comparing policies is important. You can apply for business insurance directly through a carrier, but using a broker like Vouch lets you compare multiple policies from different carriers at once. Vouch can look across the market to make sure you’re getting the best policy before you commit.

Applying for business insurance isn’t complicated if you come prepared. Having this information ready means you’ll be able to easily get a quote, get covered, and get back to running your business.

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