A very good Commercial client of ours came into our office and dropped off a “competitive” proposal on my desk…it was about $1,200 less than our current premium and his comment was “You need to sharpen your pencil”. I responded that I was very pleased he brought the proposal in for us to review, because very often a “savings” in premium equates to “less” coverage!
It took an insurance professional to spot 3 glaring gaps in the proposal; reduced or eliminated coverage that might cost our client tens or even hundreds of thousands of dollars in the event of a claim! The most glaring of which was their General Liability limits; they were providing HALF the protection that we had in place on their current policy! So the “competitive” proposal included liability limits that were $1,000,000 shy of what we had in place for our client; a shortfall that could literally have cost our client $1,000,000 if they were unlucky enough to suffer the big claim. There were 2 other critical gaps in the Property coverage as well, either one of them could have cost them tens of thousands of dollars in out of pocket expenses. Literally, the difference between staying in business and filing for bankruptcy.
As a Trusted Choice Independent Agent, we evaluate and measure specific risk exposure and apply ASSET PROTECTION solutions. This means providing the most adequate and thorough protection at the most competitive price possible.
The term “you get what you pay for” is never more significant than when dealing with your insurance protection. Make the right choice of professional and you will enjoy complete restoration after a claim. A decision to save $1,200 with the wrong representation could cost you DEARLY.