Archive for the ‘Commercial Insurance’ Category
Allstate anounced that is will cut agent commissions (read the entire article at Insurance Journal). The article states commissions will be cut starting 2013 for one year with no explanation for what to expect in 2014. Will they receive their commisisons back? Will they loose yet again, more commissions? If the economy doesn’t have drastic changes the chance of getting higher commissions again seems slim and an even better chance that there could be further reductions.
This is an even better time to be an independent agent. Monument Commercial Insuranc Agency is currently looking to expand in select states. If you would like more information regarding career opportunities with a fast paced, up and coming agency please visit: http://www.mcisinc.us/careers/index.html
Intersting article here on the Insurance Journal website, good read.
“In an indication that the market may be hardening, commercial insurance prices in aggregate increased by nearly 1.5 percent during the second quarter of 2011. It’s the first time since the fourth quarter of 2003 that all standard commercial lines showed an uptick in pricing”. http://www.insurancejournal.com/news/national/2011/09/13/215210.htm/?comments
Compare Insurance Quotes – Five things to remember when buying insurance.
Tip #1 to remember when you compare business insurance quotes.
Always get multiple insurance quotes. This will ensure that you get a good sampling of what the market has to offer. Do not take the first quote that you receive and assume it’s the lowest or best available. There are literally dozens and dozens of insurance companies and each one has their own unique underwriting guidelines. Some companies will offer better coverage, but charge more while others will not offer as good of coverage and of course the premium is usually lower. By getting multiple insurance quotes, it will allow you adequate information to compare business insurance quotes and get the best price for the insurance coverage that you need. The good news here, you can actually go online and in a few east steps request the insurance quotes that you need. Provide a few of your details one time, on a short form and submit your insurance quote request. You will be able to compare business insurance quotes from the multiple insurance quotes you will receive.
Tip #2 to remember when you compare business insurance quotes.
Research the agent or broker. Do a search online for your state’s Department of Insurance website. From there you should be able look up the agent or broker that you are intending on doing business with to ensure that they are licensed and in good standing with the state. Buying insurance from an unlicensed agent will only get you wasted money. If the agent isn’t licensed, it is almost certain the agent / broker will not have any actual appointments with any insurance companies where as to place the policy that you are attempting to purchase. And when you compare business insurance quotes from an unlicensed agent / broker the quotes most likely will not be accurate.
Tip #3 to remember when you compare business insurance quotes.
Research the insurance company. Just as it is very important to ensure that the agent or broker you are going business with is licensed, it is equally important to ensure that the company is licensed or at least authorized to do business in your state. Also, research its financial standings on independent sources like A.M. Best, Standard & Poor’s, National Underwriter among many others. These resources will allow you to do a check up on the company you want to place insurance with and help you decide if they are stable or not.
Tip #4 to remember when you compare business insurance quotes.
Research your specific situation before jumping in to something. If you are looking at going in to business or buying and existing business, make sure you understand the insurance’s that are required and their associated costs. Some business insurance can be extremely costly and could cause you serious financial trouble if not aware ahead of time.
Tip #5 to remember when you compare business insurance quotes.
Read the fine print. Even if you have known the agent or broker for many years, be sure to read the fine print. I have seen prospects that were misclassified as far as what type of risk the insurance company thought they were. Agents do this to get a lower premium, of course to help ensure the sale. The problem here is that when the insurance company finds out that the risk is really are a dynamite manufacturer and not the little trinket and gift store that the agent has made you out to be, you most likely will get cancelled. Now you may ask yourself why this is such a big deal, I can just go to another insurance company and get coverage. True, but on almost every insurance application there is this question; “In the last three years have you been canceled, declined or non-renewed for any insurance policy” and if so, WHY? Now this poses a very sensitive position where as if you answer no, then you are committing insurance fraud which is a felony in most states.
Do you need an insurance quote or have an issue that you would like to discuss? Contact us for assistance, we will be more than happy to answer your questions and provide you with quotes for most insurance policy types for both commercial insurance quotes and personal insurance coverage.
Monument Commercial Insurance Agency – Real People, Superior Service!