The top reasons to fire your insurance broker
If you’re just starting your own small business or are currently an owner of a small business, you may want to consider seeking the services of an insurance broker who can offer you a number of coverage options. Enlisting the services of a good commercial insurance broker is a critical factor in the success of your business.
Commercial brokers develop strong relationships with multiple carriers in the insurance business, so you’ll have access to many commercial insurance policy options that will suit your individual needs.
When you’re trying to build a solid foundation for your business, you want a commercial insurance broker in your corner. In addition to business liability insurance, you’re also going to be looking for a policy that protects your office, other property connected with your business, and vehicles that you use for business. A good commercial insurance broker will make sure that you have protection against cyber threats.
But, what happens if your broker isn’t doing a good job at managing risks to your business? What are some signs that you should fire your insurance broker and that you need a new broker who better understands the needs of your business?
It may be time to look into hiring a new commercial insurance broker if your current broker is falling short in any of these areas:
- Lack of connections and relationships with insurance markets
- Displaying a lack of knowledge about commercial insurance
- Absence of regular or thoughtful customer service
- Lack of forecasting emerging risks and ways to minimize them
- No specialization
- Last-minute renewal hassles
- Lack of availability
- A lack of claims expertise and problems with claims
- Inadequate coverage and/or not offering you true coverage choices
Hiring a new broker
Running your own business involves a lot of time, energy, and stress. The last thing that you need is an insurance broker that doesn’t understand your industry and the risks that come with it.
If you’ve decided that it’s time to fire your insurance broker and that you’re going to need to find a new insurance broker near you, Daniel Fraisse, independent insurance broker and agent, has developed a reputation as one of the best commercial insurance brokers in Los Angeles.
With over 30 years of experience in the insurance business, Dan has forged solid relationships with many of the major carriers and is knowledgeable about all of the different types of coverages, including packaged policies. One popular option for small to mid-sized businesses is a “Business Owners Policy” or BOP, a pre-packaged policy that combines property, liability, and business interruption insurance. And, you have the option of adding coverage to suit your individual business needs.
For more information on BOP’s, other commercial insurance options, or any insurance questions you may have, call or click today to let Daniel Fraisse.