Most business owners don’t look forward to bidding out their commercial insurance. There are many good reasons why -- you are not an insurance expert, it takes time, and agents tend to sell more than educate. Then once you have all the quotes, it is almost impossible to tell how they are different without reading each policy.
Bidding Your Insurance May Get You a Good Premium -- But Poor Coverage
Many businesses have found that the most effective way to get the best business insurance is to hire a qualified agent, then let him or her market your insurance. As a result of substantial consolidation in the insurance industry, there are fewer insurers who write commercial policies.
How to Select the Best Agent for Your Business
Ask The Agent Questions Regarding Services Offered. Here Are Few Ideas:
- If I have a claim, how would you help me?
- How many years of experience do you, and your staff, have?
- When I call the agency with a question, who would I be speaking with?
- May I have three references?
- What systems do you have to help manage your business?
- How do you define customer service?
- What is your policy for returning phone calls?
- How long do you usually retain a client?
- Will I have to ask for my renewal to be processed?
- What markets do you have that would be interested in my business?
The best thing you can do for your business, or family, is to select an experienced agent who is committed to developing a personal relationship with you and finding you the best options based on your needs. Remember, not all insurance policies are equal. What goes into the policy will determine how claims are settled? You are not buying a product you are managing your risk. Remember, Insurance is not a product, it's a promise and a trusted relationship.