Build a Relationship with a Trusted Agent
Having a single point of contact is key when it comes to renewing your business insurance. You want to build a relationship with an agent or agency that you trust to provide you with the best advice and negotiate on your behalf. Remember that this agent will be able to answer any questions you have and provide you with the best advice.
For example, imagine you’re an HVAC contractor that had a significant Workers’ Comp claim last year. A trusted agent will understand your business risks and recommend the right coverage options to protect against future incidents.
Address Any Past Claims Problems Now
Addressing any past claims problems now will help you get the best rates and coverages. Work with your agent to address and fix any issues and provide documentation to show your improvements. This way, you can demonstrate that your business is taking steps to mitigate future claims.
For instance, suppose you had a slip-and-fall incident last year, causing an expensive claim. Your insurance agent should help you come up with procedures to minimize risks and implement safety protocols.
Create an Appealing Company Culture for Underwriters
Underwriters want to know your business is well-managed, and you take safety seriously. Creating a company culture that promotes safety and risk management will demonstrate that your business is low risk. This way, your rate will be impacted positively.
For example, if you run a construction company, having a company-wide safety program or deploying “tool-box talks”, and contingency plans will demonstrate that you take safety seriously.
Strategically Shop Your Risks
Insurance agencies should strategically shop your risks, looking for the best rates and coverages for your business. Your insurance agent should be familiar with your business and have a good understanding of the risks you face. They can, therefore, offer you the best and right coverage.
Let’s say you run a small manufacturing company. A thoughtful agent will understand your various exposures and recommend a policy that covers your machinery, products, and liability for any damage caused by these products.
Reach Out to The McBride Agency
Is this one a little on the nose? Sure, it is, but at The McBride Agency, we prioritize protecting you against unexpected losses or threats. We deal in risk management
strategies that help drive down your overall cost of risk and work to provide your business with the right commercial policies, ensuring that you are on the right side of any claim.
We will build a relationship with your business, become your trusted agent, and advise you on the best policy. Don’t hesitate to reach out to us whether you are starting a new business or have been in business for years. We make sure we find the right coverage for your specific needs.
Take Action Now: Protect Your Business
It’s easy to put off renewing your insurance coverage, but you don’t want the repercussions of a lapsed policy to hit you. Protect your business today by taking action to renew your policy on time. That way, you can avoid unforeseen financial losses due to unexpected events.
Renewing your business insurance is a critical step in protecting your business. Building a relationship with a trusted agent, addressing past claims problems, creating an appealing company culture, and strategically shopping your risks are essential steps to renewing your policy successfully.
Use the form below to contact us for a free quote, or book a meeting with our team today. Let us help you find the right insurance coverage for your needs, or call us at 815-456-5006.
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