An independent insurance agency is more than just another cookie-cutter coverage provider. They offer a unique set of opportunities to their customers that could be missed out on if you choose to work with agents representing only one company. These captive insurance agents can have competitive rates for personal, business, and life insurance, independent insurance agents provide their clients with policy package flexibility, more personalized customer service, and the ability to shop your insurance for you. This ensures that you get the best coverage for the best price.
Many single-company insurance providers have their own exclusive agents that sell for only that insurance company and their primary responsibility is to their employer, not necessarily to the client. This can create a conflict of interests that adversely affects the customer in the event of a dispute.
Multi-company independent agents are licensed professionals who must understand all of the offerings of the insurance carriers that they represent. This means that they will be able to find a specific policy that fits your insurance needs best. They do not work for the company, they work for you which keeps your best interest and their best interest aligned.
What does this policy personalization get you?(more…)
Water damage claims are messy and a hassle to deal with. The best way to avoid them is to understand where the high risk areas of your plumbing are and to implement maintenance and preventative care. The Institute for Business & Home Safety identified 9 of the biggest plumbing risks in a survey of home water damage claims and offers several tips for keeping them from becoming water damage nightmares.
Insurance audits are typically performed on commercial insurance policies providing auto, general liability, garage liability, umbrella, and workers compensation coverages. When these policies are issued, you are asked to pay an estimated premium. Estimated premiums are based on the nature of your business and your estimate of exposures (i.e. payroll, sales, etc.) for the policy period.
Once your policy expires, an audit is conducted by the insuring company to collect information on actual exposures and operations and then a final premium is determined. The difference in the estimate and the final premium will be either refunded or billed to you. This allows your insurance to accurately reflect your business’s fluctuations in payroll and business growth or downsizing.
When And How Will The Audit Be Done?
An audit will be performed shortly after your policy expires, usually within 30 days of the expiration date. Smaller, less complex businesses may only require that you assemble and send the necessary information to the insurer or have the information available when a telephone auditor calls. Larger and more complicated policies are handled by a field auditor, who will schedule an appointment and visit your business. If you must change or cancel a scheduled appointment, please advise the auditor as far in advance as possible. (more…)