FAQ’s

1. How come it takes so long to get a quote?  I can get a car insurance quote in a half -hour!
Answer: The reason it’s so easy to get a car insurance quote, is that the rating information the insurance company needs (i.e. vehicle type, your driving record, where you live) is already online.  They don’t need much else.  A business, on  the other hand, is more complex because there’s a gazillion different industries, with different associated risks, operating in their own particular way.  Each business has to  be evaluated on an individual basis by a real, live and breathing, underwriter.  I suppose one day the computer programmers will figure out a way to have a computer assess the unique characteristics of any one business. But that day hasn’t come yet.

2. Is there anything I can do to lower my premium?
Answer: The short answer to this question is, definitely maybe, just ask your insurance agent.  Whatever you can do to lower your risk of something happening, the insurance company may respond with a credit.  An easy one is a Safety Program for your Workers Compensation insurance.  That can cut as much as 17% off your premium.  Other examples include: security cameras for your store, non skid flooring at your business premises, records management best practices if your a service business, the list goes on.  So ask your agent what does the insurance company like to see when evaluating a business like yours.

3. How do I know if my organization is covered for a certain loss?
Answer: It’s right there, in your insurance policy.  Two problems with that however. One, insurance policies are tough to read, much less understand when you do try and read them.  And two, who’s got the time?!  Best practice: ask your agent for a policy review.  He/she should be able to walk you thru your policies pretty quickly.  I find it rarely takes me more than 15 minutes to walk my client through any one insurance policy.  And sometimes much faster.  Your agent will know which pages are pertinent to you and your business, and which are boilerplate.  Even if you find out you’re not covered for something you thought you were, at least you have the chance to fix it.  The worst time to find out you don’t have coverage for something is when you have a claim!

4. What’s the most common general liability claim?
Answer: Slip and fall.  That’s why you see those yellow “Caution, Floor Is Wet” signs all over the place.

5. What’s the most common workers comp injury?
Answer: I’m going to have to check with my work comp underwriters on this, but from experience I would say: sprained ankle, sore back, and carpal tunnel syndrome.

6. I’m a small 4-man operation, and I’ve had business insurance agents tell me my account “isn’t worth it.”  What gives? I need business insurance as much as a big company!
Answer: Most owners have no idea of the amount of work that goes into arranging insurance coverage for their business.  On  top of that, it’s usually the “small” clients (annual premiums under $10,000) that cause difficulty.  So how can you not be “difficult?”  Easy.  If I leave you a voice mail, call me back.  If I send you an email, respond to it.  If I need you to sign something, sign it and get it back to me.  And if your insurance premiums are due by this Friday, then get them paid by this Friday (if you can’t, at least call your agent and tell him).  What I’ve found is that the small businesses who are easy to work with can have their pick of agents just like any large business.