I Need New Retail Business Insurance Advise(Help!) (liability insurance, sales, agents)

[NEWBIZ]

I appreciate as much advice as I can get on this issue. I recently started a natural health and beauty product business. I found a high retail traffic area and a great price on the rent so everything is ok as far as that is concerned. My question is in regard to insurance. I am already paying property insurance monthly premiums through the shopping center who I rent from. Now I need to get liability insurance but am not sure where to start. I have been reading that it is better to look for a broker or an agent who can shop around for the best rates but have also heard that it is better to go through a large insurance company. I am looking for the most cost efficient yet best way to insure a small health and beauty product line biz. My questions are as follows:

Is it usual for businesses to pay premiums on a monthly basis or are they automatically required to pay the premiums in full when the coverage is for a new small business with no previous sales ?

If my annual premium is $3500 is that normally broken down into 12 monthly payments or should I have an option to pay it differently? For example pay $1750 every six months

What is a fair approximate of what my insurance cost would be for a business with no other employees, 1400 sqft, selling skin care products, and organic prepackaged beverages (drinks, teas etc)? Over $3500 or less?

Is there anything in particular that I need to watch out for or try to avoid in case of future problems when getting liability insurance?

Are there any companies that are better than others? If so , who would you suggest I contact?

I have to get liability insurance as soon as possible and appreciate any responses. I have tried getting online quotes but for some reason, havent gotten any responses.

[daddiesgirl]

I used to run a DVD retail store and have since run a manufacturing warehouse. There is no finite answer to insurance other than that it depends on your type of business. Obviously if you run a Blockbuster video store and a company that produces medical valves for heart transplants, your insurance rates will be dramatically different. So insurance companies will give you rates depending on how high of a chance you are likely to face a claim or a suit.

My best advice would be to do both - contact an agent and also get some quotes direct from the carrier. There are pros and cons to going both ways but in my past experience, working with an agent helps you with payment terms. Most direct carriers only allow you to pay in full, or six months and if they do allow monthly payments, they charge a higher rate. Agents typically get you lower rates, but you make the payments directly to them since they've negotiated an even lower rate and is making the difference in your payment.

Commercial insurance (heck, insurance in general) is expensive. $3,500 a year sounds about right. I was paying around that price annually for my old DVD store. You don't even want to know how much I'm paying annually now with the manufacturing business.