This is a term that everyone is familiar with. Shopping for a superior product or service for the lowest and most affordable price.
Unless you are shopping for a very specific brand or item, we are always looking for the best deal. If you are shopping for a specific brand or item, typically you are willing to pay whatever the premium is for the specific item you are looking for.
So, what about if you are shopping for your workers compensation insurance?
Ultimately the coverage is the same, you have the same limits and them. The only verifiable difference between any two policies is the name of the insurance carrier on the policy. So, why is there a price difference?
When looking for this answer, we first need to start from the very beginning of the application process. From the moment you meet your insurance agent, weather it be on the phone, through email, or in an agents office, everything starts with honesty.
As we all know, honesty is the best policy! There are very fine details that are captured on the application for the insurance coverage.
Specifically, lets talk about the workers compensation coverage.
You have to have the coverage, so why not do everything that you can to maximize the value of your money for the coverage. The information that you share with your agent can and does translate into what sort of leverage we as agents can ask a carrier for credits.
Any information that you could disclose to us that would give a good justification for reducing the overall cost of the policy would certainly help to lower the cost of the policy. If we get just the bare minimum information for the business that needs coverage, what does that do for you as the business owner? Not much. If I can only offer you a policy that isn’t affordable, that doesn’t do either of us any good.
When shopping for insurance, make sure to share with your agent what makes you so good at what you do! Be excited about the fact that you have low turn over! Emphasize to us that you have not had any claims! You agent should be on your side when it comes to getting you the best price possible for your policies.
If we don’t deliver the best price to you that is available, someone else will. That is why it is so important to have a strong relationship with your agent. Trust your agent to do the right thing for you and keep your hard earned money in your pockets!
