Better Way To Buy Business Insurance In Tempe

Want to save on Umbrella Insurance?

Instead of turning several brokers loose to shop
the market, ask each broker which underwriter
he feels he has the most clout with. Then assign
him to approach that underwriter for a bid on your
company's insurance.

Why?

* If an underwriter is approached by more than one
broker in your behalf, he'll want to avoid the deal.
He won't know which broker to talk to and will want
to avoid being the middle of a quarrel.

** Every underwriter has favored brokers.
Once an underwriter makes a quote, he won't
reduce it for a favored broker even if he wants to.
It just isn't done in the business insurance.
That's why it's important to send each of your brokers
where he can exert the greatest influence.

What to do if your own broker has already gotten
quotes you think are too high?

Find out where he's been and assign new brokers
to additional sources.

Exception

A very sophisticated broker can go back to an
underwriter and get a lower quote. He does it by
changing the terms of the policy slightly. It should
not have a significant effect on your coverage,
but it will give the underwriter an excuse if the
original broker complains. The premium is lower
because the coverage is different.

Tip

Make sure your brokers are describing your
business accurately. It can make a big difference
in rating and, thus, your premium.