Buy Your Insurance Like a Pro

By; David Dybdahl

You should not send more than one agent into the marketplace, shop for the lowest price every year, or switch insurance companies year to year. You should buy a GL/CPL and PL policy to cover exclusions for mold and bacteria in the CGL policy that most contractors buy.


Last time we started looking at some things that your agent may not be telling you when it comes to your insurance. To wrap things up, today we’re going to examine five things you need to be aware of that will soon have you buying your insurance like a pro.

1. Sending More Than One Agent Into the Marketplace is Hurting You

Multiple insurance agents bouncing around in the insurance market place does not get you the best coverage or price. The restoration specialist insurance brokers all know where the best value is going to be for your firm. Going out to multiple specialist agents just neutralizes the work of the agent you would like to deal with. You rarely end up with a better insurance program after going through this extra work. More likely, you will buy the cheap insurance without knowing what you gave up in other important considerations of coverage and claims-paying capability. 

2. Shopping for the Lowest Price Every Year is Hurting You

Insurance underwriters can look into their systems and see every time you have spun their wheels by asking for quotes and not buying their products. After a few unsuccessful attempts you will have “burned the market” and that door will be closed to you. 

To avoid this unnecessary situation, carefully gauge the companies you will seek alternative quotes from. A specialist broker will be able to tell which markets will likely be your best options without going through the application process and running up a bad track record for you at an insurance company. Ideally you should shop for insurance every three years.

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