At Ten Key, Inc., we work with many wonderful insurance professionals, and we’re happy to work with yours. Recently, we talked with Kaitlyn Pintarich of Berry Insurance about choosing a provider for your financial team. “The most important thing is trust,” she told us, “trust your team and follow your instincts. Your insurance agent should be a valued and trusted extension of your company’s team.”
Here are 3 common questions that people ask their insurance providers, along with expert answers!
1) Why did my insurance change this year? A good insurance agency will conduct regular (annual, at the very least) reviews of your policy. This is how they determine whether changes should be made, and adjust your coverage accordingly. Your provider must review and update your policy to reflect recent global trends, industry changes, and changes to your business and personal situation. This is also an opportunity to share any changes you anticipate in the coming year.
2) Can’t you just look at my current policy and give me a quote based on that? Sorry, it’s just not that simple. According to Kaitlyn, “What we try to provide is assessment for our clients. We don’t like to do an apples to apples quote, because you may not have all the coverage you need for your situation. We want to find out what you need and where you’re going with your business in 1 year, or 5, or 10 years, and build a policy that’s customized to you and your insurance needs.”
3) What do you mean, you can’t provide that coverage at that price? My brother-in-law knows a guy who says it’s totally possible! Beware of “too-good-to-be-true” insurance prices. Essentially, agencies are all working with the same resources, so if a policy is being offered at a bargain, then it’s most likely cutting corners (and possibly, much-needed features and coverage) to give you a lower price. In fact, a good agent must be prepared to walk away from a client if they can’t do the job they know needs to be done. The last thing you want is to get that cut-rate insurance that you’re told will cover you, only to find out later that…oops, it doesn’t.
Wow, that certainly covers the bases! Tak a close look at your policy and make sure you have what you need. If you still have questions on your provider’s role in your business, read our article about how your insurance provider fits in with your financial team.