Use the same headings for every option
List each policy section, the insured entity and people, limits, deductibles, policy dates, important exclusions, endorsements, and any special conditions. Then record the cost separately. This layout makes it easier to see when two proposals are not actually comparable.
If a proposal is unclear, leave the item open rather than filling the gap with an assumption. A question list is a useful outcome of the comparison.
Read exclusions with the services in mind
An exclusion has meaning only in relation to how the business operates. Compare the wording to the service list, premises use, and provider relationships you prepared for the submission. Ask for an explanation of wording that may limit an activity central to the business.
The declarations page is important, but it is not the entire policy. Endorsements can change the base form, which is why they belong in the comparison.
Make the decision record useful
Document what you selected and why, including questions resolved during the process. The record is helpful when a lease, new service, or future renewal raises the same issue again.
Compare like with like
If one proposal omits a document, endorsement, or answer that another includes, mark it as unresolved rather than assuming the terms match. A clean comparison is as much about identifying missing information as it is about comparing completed fields.
Ask for the supporting wording behind material statements. This keeps the decision grounded in the documents that will apply rather than in a high-level summary alone.