Is your business getting the high-quality insurance coverage it deserves?
Whether you have two employees or 200, it’s important to have a real person on your side who can offer you personal, professional service and quality protection against possible financial loss. If you’ve been with the same business insurance agent for several years, it can be difficult to know when it’s time to make a switch.
Here are 5 signs that may indicate you may want to search for a new insurance agent:
1. Your premiums have increased without explanation
We are in an environment where rates are rising, but business owners need to make sure they understand where these increases are coming from. Is it higher risk exposure resulting in higher limits? Or was there a classification change that is driving the increase?
2. Your agent hasn’t met with you in the past year
Your insurance plan should change with your business. As your business grows or adds new products and services, there are often gaps in your coverage that need to be addressed. Meeting with your agent at least once a year provides an opportunity to review your policies and adjust them as necessary. If your agent is simply allowing your policy to renew each year without such a discussion, they’re likely not equipping you with the personalized service you deserve.
3. Your agent is no longer with their agency
Whether your agent has retired or simply found another job, you may experience disruptions in service when your agent is no longer at their agency.
4. You’ve experienced service or claims issues
The most fundamental job for your insurance agent is to service their customers, and the most fundamental job for your insurance company is to pay your insurance claims. If your provider is struggling to meet either of these requirements, it may be time to search for another agency.
5. Your agent isn’t providing additional options or only represents one insurance company
Can you imagine playing an entire round of golf with only one club? Or building a house with only one tool? If your agent only represents one company, it’s difficult to know whether that company actually offers the right coverage at competitive rates.
Similarly, if you’re working with an independent agent and they haven’t presented any quotes from their other carriers in three or more years, consider asking another independent agent for a comparison to ensure you’re getting the best protection at the best price.
Have a question about business insurance? Interested in receiving a free, no-obligation business insurance quote? Reach out to your local FUA agent today, and learn how Farmers Union Agency can offer you personal service and custom protection at a price that fits your budget.