Selecting an insurance broker can be time consuming and draining, that’s why we’ve compiled this list of tips and tricks to make finding an insurance agent easy and rewarding! Here are the top 4 tips on how to find the best broker for your organization!
#1 – Select 3 or more who are willing to go to market – ask friends, colleagues or search google to find agents that are willing to market your insurance. Each broker will need a list of information to provide you with the most accurate quote possible. It helps to have your current insurance policy and loss runs handy to ensure that each company provides you with the same coverages, also known as “apples to apples” quotes. It is also important that the broker you select be well versed in providing insurance to Nonprofit & Social Services Organizations. General agencies are easy to come by, but finding a broker that understands your operations is far more valuable when you have consultative needs in the future.
#2 – Core Values – Insurance Agents and Brokers are paid via commission and broker fees. It is important to find an agent that is shopping and placing coverage with your best interests in mind. Ask how many Companies they are quoting with and request to review all quote options available. This will increase the chance of being able to select the most competitive option with the best pricing, not the option most beneficial to their bottom line.
#3 – Analyze Their Service – The best way to determine if you are dealing with a service based agency is from the first phone call. Did a live person pick up the phone or were you directed to a voice mail? How long did it take to receive a response after your first inquiry? Also, requesting a quote is a great way to measure their responsiveness. A valuable agent will stay in touch with you along the way, consult with the quote options on the table, and review the different insurance coverages with you so that you can determine what is necessary for your organization.
#4 – After Coverage is Bound – This is the time that an agent/brokers service will really shine through. Often times the agent is your first point of contact, the one who wines, dines and sells you on their Company’s products and services. Once they have bound coverage, most times your account is passed over to a servicing team. Pay attention to their responsiveness to certificate request, mid-term change requests and consultative scenarios. If at any time you are unsatisfied with the service you are receiving, be sure to bring it up with your original sales person or manager. After that if you are still unhappy, you always have the option to move your insurance coverage to another broker of record without making any changes to the policy or price.
Want an insurance broker that will go to market and fight for the best pricing and coverage for your Nonprofit & Social Service Organization? Call Charity One Insurance Agency, Inc. for a free, no obligation quote and consultation.