How often do you shop for insurance?

Answer 1

Every year at renewal time.

Answer 2

Just a word of caution about "shopping" business insurance. First of all, even though you may ask for "apples to apples" coverage, there are many differences in policies that it is almost impossible to get "apples to apples" comparisons. Make sure whoever quotes your coverage, gives you simple to understand coverage comparisons, even on the extras.

Secondly, often times, "Agents/Brokers" like to block the market. They usually shotgun your applications to the market and many insurance companies get turned off by this as they feel that they have no chance of gaining your business. When this happens, your apps go to the bottom of the pile or get rejected. Have your agent tell you their top 3 markets and let them work with that.

Thirdly, don't get caught in the trap that cheaper is always better for you. You need the best value for the insurance dollars you spend. Get a true insurance professional on your team that can be your trusted advisor.

Many people treat insurance as a commodity but it protects everything you have worked hard for. I would suggest that your Insurance Professional should be just that. Professional and therefore on your Professional team as much as your attorney and CPA are. Do you shop th eprices of your CPA and Attorney every year? Why not? If you trust your agent, you should be confident that they are fighting for your best interest every day and every claim and every renewal. I highly suggest using an Independent Agent rather than a captive agent or direct writer.

 

Hope this helps.

Answer 3

I shop my insuranc everytime it comes up for renewal. I want to know what is out there. I also Shop my clients rates at every renewal.

Answer 4

I have to agree with Louis. If you have a great insurance broker or agent; they are already doing the homework way before your insurance comes up for renewal.

You should never shop around for insurance because its the cheapest as well. This breaks up your loyalty with an insurance company. The more loyal you are the more loyal your rates would be.

Answer 5

Shopping is fine but reviewing your current policy is wise.  There are a lot of advantages to staying with one agent/agency/company if they are taking care of you.