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I recently heard a story about a widow who’s husband had forgotten to put her name as the beneficiary on his life insurance policy. The previous wife felt entitled to the death claim and because of it, the woman had to take out a loan to afford the funeral. I think about how she must’ve felt and how easily that could have been avoided.
Our personal lines clients are families and friends. We check in with them and ask questions to see if we can’t help lower their premiums. And as we do that, we get to know them. If you have a relationship with your independent insurance broker, these sorts of honest mistakes that can happen become a lot less likely.
Being in the middle of tax return season, it’s good timing to think back over the past year and look for how changes in your business could positively influence your commercial insurance lines. Here are some of the questions we’ll ask when we’re helping a company get their insurance premiums lowered:
- Have any of the risks being covered been removed or managed in different ways?
- Have you rolled out any new programs that would improve safety, reduce liability, or lower workers compensation claims?
- Have you sold any equipment recently? Automotive, machinery, or other depreciating assets?
- Have you had any employee turnover or shifts in job roles?
- Have you called your local independent insurance agent to see if they can run quotes from competitors?
Chairman & President
Personal Lines Manager
Controller & CFO