4 Signs You Need to Break Up with Your Insurance Agent
February is a month to focus on love. However, it’s likely there are some things you may not “love” about your current insurance agent right now. If a lack of customer service, rising prices or poor communication have you feeling frustrated, it just might be time to break up the bad relationship. Here are 4 tell-tale signs that you and your current insurance agent need to “start seeing other people.”
They are unresponsive.
You call and email but never seem to get a timely response to your questions. This is a big problem! In case of an emergency, you may need information quickly. If you can’t count on your insurance agent to respond to your questions in a reasonable amount of time, this isn’t a sustainable relationship. Your insurance agent should be easy to reach and quick to reply. A good agency will have customer service line that you can reach outside of business hours, should disaster strike late at night or on the weekend.
Prices continually increase, but quality service declines.
Have you found that the price of your premiums increase with every passing year for the exact same coverage? Sure, increases may be needed to adjust to inflation & increased claim costs, however this shouldn’t be the case every renewal. Customer service is really important when it comes to your policy as agents can’t always control costs, but they can offer you any available discounts & make sure your policies still match what your family needs. If you find that you’re paying more for worsening customer service and coverage, it’s time to get out there and shop around!
They don’t follow through.
When your insurance agent says they are going to do something, you want to be able to trust that they will follow through. In any business, you are only as good as your word. When it comes to insurance, it can be a major problem if your agent fails to make sure your paperwork is properly submitted and your billing is up to date. Should their forgetfulness cause you to lose coverage, this is more than just a headache, it could be a big financial problem for you, too.
You are not their priority.
If you get a sense that you are anything but top priority for your current insurance agent, it’s time to starting looking for an agent who will put you first. The safety and security of your family and assets should be their foremost concern, not just making money off of your business!
What other reasons have you found to be a sign to “break up” with your insurance agent? Share your experience by commenting below!
The Major Pitfalls of Not Having Business Insurance
As a business owner, you want to do all that you can to set your business up for success and protect it from risks that may hurt its growth. One of the best ways to prepare for the unexpected is to find the right business insurance to meet your needs. Yet so many businesses overlook this critical step and are blind-sided when something like fire, theft, or injury cost them big.
Here are just a few of the major pitfalls that could occur without business insurance. Take note if any of these are applicable to your business!
If something happens to your equipment or products, you can’t run your business
Imagine if fire or water damage destroyed your electronics, inventory, and all the files you had carefully stored in your office. How would you keep your business running? Without business insurance to cover the cost of these damages, you’d either have to pay out of pocket to replace all of these items or shut down your business altogether.
You’re unprotected if a lawsuit is filed against your business
No one wants to think about getting sued, but it’s an unfortunate reality of the world we live in. Ignoring this risk could lead to a costly court battle that could ruin your reputation as well as your finances. With three different types of business liability coverage – general, product, and professional – a knowledgeable business insurance agent can recommend the coverage you need.
An employee could get injured on the job and hold you responsible
Did you know that all states, except Texas, require businesses with a certain minimum number of employees (differs from state to state) to have workers compensation coverage? This coverage helps with the costs if an employee gets injured on the job. Don’t make a mistake of thinking you have a “safe” business where no one is likely to get hurt. Injuries occur all the time form everyday objects!
If your company car is in an accident, you could be left liable and without a means of transportation
Many businesses own or lease a company vehicle and rely upon it to meet with customers and deliver product. Just like for your personal vehicle, you also needbusiness auto coverageto protect your company against liability arising from accidents in your company’s vehicle.
A hacker or computer virus could get a hold of valuable and sensitive customer data
Even some of the largest and most respected businesses have recently become victims of a data breach. Not only will this cost you customers and your reputation, you could also face a lawsuit over it! Data compromise coverage, or data breach coverage helps protect against legal or other associated costs in the event of sensitive information being leaked.
If one or more of theses major pitfalls hit home, it’s time to have a conversation with a business insurance agent to learn how you can get protected.