Similar to legal malpractice suits, uncovered medi...
Are you in the market for a new business insurance broker? Then you need to continue to read this article.
Your business exposes you to considerable risk and you need the best possible combination of business insurance coverage, pricing, and service. All three of these are critical to the success and effectiveness of your business insurance program. We believe it is important not to cut corners when developing a business and risk management program for your business.
There are a number of ways to go about selecting a broker for your business. Here are the two most common:
Let us look at the each of these options individually.
Pros:
Cons:
Pros:
Cons:
It is clear that the most effective way to buy insurance is to select a broker then allow that broker to market your business insurance. We have talked to many business owners and they have told us what is important to them. It really comes down to three things; coverage, price, and service. If you bid out your insurance you are only guaranteed one of these—low price. Let us review the three most important factors when securing business insurance.
Coverage – Your business needs and wants the broadest commercial/business insurance possible. Every industry is different, so it is best to select a broker who knows your industry and the specific coverage that is required to manage all the many different kinds of risks you have. For example, if you own a restaurant you need coverage like liquor liability and food spoilage. However, if you are an architect, you most defiantly need professional liability insurance, not food spoilage coverage.
Price – Price is a function of coverage and your broker can offer you options based on the needs and comfort you have with taking risk or not taking risk. If you bid out your insurance, brokers are apt to offer cut-rate coverage in order to get the business, which is not good for your business.
Service – Service comes into play after your policy has been delivered. Broker services can be very important in the day-to-day handling of your business. For example, are certificates issued on time? Are phone calls returned promptly? If you have a claim, will the broker be there to manage it for you? If you select the low-cost broker, it is guaranteed they will be counting dollars every time you call their office.
Here are a set of questions you can ask during your qualifications interview.
Similar to legal malpractice suits, uncovered medi...
You get all the benefits and advantages of being a...
Natural disasters and crimes can impact a business...
Leap | Carpenter | Kemps Insurance Agency provides Commercial Business Insurance, Employee Benefits, Life and Health Insurance, and Personal Insurance to all of California, including Merced, Atwater, Los Banos, Mariposa, Madera, Fresno, Modesto, Turlock, and Stockton.
CA License Number 0646081 | Licensed to do business in California, Arizona, Hawaii, Idaho, Montana, Nevada, North Carolina, Oklahoma, Oregon, Virginia, West Virginia and Washington.
© Copyright 2023 Leap | Carpenter | Kemps Insurance Agency — Privacy Policy | Terms & Conditions.
Merced Office
3187 Collins Drive
Merced, CA 95348
Phone: (209) 384-0727
Additional Contacts
Toll Free: (800) 221-0864
Fax: (209) 384-0401