Top 7 Signs It’s Time to Find A New Insurance Broker
Loyalty is something we at Premier strive for every day, and take very seriously. Loyalty to our clients, our business principles, loyalty from our clients, and loyalty to our profession. We build long standing relationships with all of our clients. We like it that way. Those long relationships are not out of convenience, we earn our clients loyalty all year long. We are accessible, we are innovative, we are experienced, we are selective, and we are service oriented. We know that our competition is knocking on doors all day long, and so we work at being the beset broker that we can be, being the best at being there for our clients in the expected ways, and going above and beyond to deliver that extra "boutique service" or clients deserve. We hear it all the time... "I already have someone that handles my insurance" or "The same guy has done it for years".... that's great, and we respect those relationships, but for those of you who are not our clients YET,.. "When is it time to find a new Insurance Broker?"
Having a reputable insurance broker that you trust is important in putting your mind at ease that your business is covered. Your business is an investment that should be protected against the unexpected. Now, may be the time to call Premier Insurance if you notice any of these seven signs:
But, before we jump into the list, let’s distinguish the difference between an insurance agent and an insurance broker.
An insurance agent may be employed directly by an insurance company, or may be an independent contractor. As an independent contractor, an insurance agent typically contracts with a few insurance companies and only sells insurance policies for those companies.
On the other hand, an insurance broker is completely independent of an insurance company. Insurance brokers often work with many different companies and have access to sell a wider variety of insurance products. Since an insurance broker is not contracted to a particular company, they can be your advocate and represent you to find you the best market rate. All brokers get the same rates for group health coverage, you just need to make sure you broker is int he know for all the latest offerings and trends to be fully protected. Premier Insurance prides our self on being an independent broker. We represent our clients- no one else.
Here are the top six common telltale signs that your insurance broker may need to be replaced.
Sign #1: You can’t reach your insurance broker. In business, just as in the insurance industry, communication is key! If you feel that you’re leaving 2 -3 messages and never get a call back, then it may be time to seek out a more accessible insurance broker. At Premier, we pride ourselves on our fast turnaround time and our exceptional customer service. You can call the Owner directly, and you can call your broker directly – that’s immediate access, just what you need and deserve!
Sign #2: You think you’re overpaying. Insurance rates fluctuate from year to year and if you haven’t received an insurance quote in the past 3 years, then now is time to test the insurance waters. Your insurance agent or insurance broker may be loyal to certain companies which is great for them, but may be forcing you to leave measurable money on the table. Shopping around for another insurance broker can help you rest assured that you’re securing the best possible insurance rate on the market. Premier Insurance is an independent Broker that represents all major carriers available in our area, we quote our clients out to the market EVERY year so you know you are getting to see all your options.
Sign #3: Requesting a quote is complicated. At Premier Insurance, easy is our middle name – that’s how it should be. If your insurance broker is asking for lengthy reports or pages of documents, it may be time to switch. An experienced insurance broker should be able to provide you a quote with simple information you could tell them over the phone or send in an email.
Sign #4: Your questions are being left unanswered. Do you know the specifics of your policy? Are the limitation and exclusions clearly spelled out to you BEFORE you buy? Do you get to sit one on one with your Broker and discuss the policy options? These and other questions are important to ask your insurance broker to make sure you are covered when and where you need it the most. If your insurance broker is not responsive enough to your questions and is not able to explain your policy, then it may be time to find an insurance broker who will. Knowing the intricacies of your insurance policy is key in ensuring that you are covered, if and, when disaster hits.
Sign #5: You have issues with your policy. This may be a bit obvious, but if you find issues with your policy, especially in the coverage amounts, then this is a major red flag. Your insurance broker should be your biggest insurance advocate and should work to ensure you have the most competitive rates and the right amount of coverage. If you feel that your policy is inadequate and your insurance broker does not seem attentive to your concerns, then find another insurance broker who will ensure your policy is as thorough as it needs to be.
Sign #6:They only show up at renewal. We see this all the time. The agent show up at renewal, does a dog and pony show, sells you some more policies or services they don't really explain, then "poof" disappears. Your Broker should be touching base with your regularly throughout the year, both for service issues, as well as checking in to see how everything is. Showing they are interested in how your business is doing throughout they year shows a true partnership and an effort to understand your business needs. Crucial if they are making recommendations to protect it!
Sign #7:They gloss over the fine print. Does this sound too good to be true? Are they unwilling to clearly explain the pros AND cons of the policy choices you are looking at? Do you feel like you are being sold as opposed to having a consultation? Meeting with your Brokers should feel like meeting with and advocate for your business. There are limits, exclusions, and coverage differences with ALL insurance policies. If you don't feel like you broker is giving you the whole story when you ask, maybe it's time to find one who will.
If you’re reading this, then you may be in the market for a trusted and professional insurance broker. At Premeir Insurance your business is of the utmost importance to us. We specialize in business/comercial insurance – that’s all we do! Call us today at 239-542-7101 It’s super fast, so easy, and 100% hassle-free!