When to contact your broker on your business insurance policy
As your broker, we work for you. We are the intermediary between you and your insurance company; We are fast, friendly, and local.
As your representative, we can only provide you with the most competitive price and the best service if we have accurate information. Therefore, we have compiled a list of times it is vital for you, a business owner, to contact your broker.
- When your business is changing or altering its operations – Your business insurance policy premium is determined by your operational offerings (the work you do). If your company develops a new offering/service/product, you need to contact us, your broker, to ensure you are rated correctly for this business venture.
- When your business property becomes vacant/occupied – If you rent space to clients, you should immediately contact your broker if the property becomes vacant for more than 30 days. Vacant properties are rated differently than occupied buildings; This will ensure your property is rated correctly and that the insurance company is aware of this change in occupancy.
- When your business gets a new vehicle/new driver- If you are adding or subtracting vehicles or drivers from your commercial auto policy, make sure to call your broker. The type of vehicle, driver’s experience, and driver’s history are determining factors of your rate; therefore, this notification ensures that your policy is accurate and rated correctly.
- When you purchase a new piece of equipment for your business – If you are adding a piece of equipment to your commercial policy, make sure to call your broker. This notification ensures that your policy is accurate and accounted for correctly; we can not insure what we don’t know about. In the case of any claims, the policy will respond accordingly.
- When your digital footprint changes or to learn more about Cyber Insurance – Cyber attacks are among the largest growing threats to any business. Any company that holds clients’ private information, processes transactions online, or uses point of sales terminals has exposure for a potential cyber-attack. Common cyber attacks include locking a company out of its systems, compromising personal client information or accessing financial materials. In any case, this is something that you need to be protected against.
Whenever there is a change in your business – big or small you need to inform your brokers; communication between you and your broker is vital to make sure your insured correctly. For more information or to update your commercial policy, please calls Mike today at 709-726-4498.
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