New Year…New Policy? Do you have the right business insurance coverage, at the right price? If you aren’t sure, the New Year is a great time to shop!

Keep these points in mind when shopping:

Pricing

Carriers change their pricing all of the time, you may be overpaying and not know it. “Shopping” insurance regularly ensures that you have the best deal available and ensures you are not missing out any savings.

Correct Coverage

Keep in mind pricing is great, but if you are not adequately covered, it doesn’t matter what you paid if you don’t have the correct coverage. You don’t have anything.

Even though you may not always find a better deal, shopping for insurance is a good way to make sure you are currently, appropriately covered. It’s a great, free way to get a second opinion.

Managing your Risk

Every business owner needs to manage risk and ensuring you have the correct insurance coverage is one of the easiest ways to do that.

Make sure your business is on the right path to success with the right insurance partner.

How often should you shop?

At least every few years compare what you are paying to what other companies are offering. You might find that other companies can offer a savings, while your current provider has been slowly increasing premiums each year.

Times to Buy or Shop Business Insurance:

1. At least every few years

2. A few months prior to Renewal is a great time to shop, but you can change at any time. (Please determine if you have an early termination fee).

3. When you hire or lay off employees

4. If you relocate your business

5. When you buy new equipment

6. If you get rid of old equipment

7. When you start offering new products

8. An Increase or decrease in your business income

9. When your insurance company is closing or relocating

10. Your agent is retiring

I have been with the same Agent and Company for years and am happy with them.

If your rate increases, does your agent proactively shop your insurance with all A-rated companies so you not only have the best carrier for your needs, but the best price as well?

Will shopping impact my credit score?

Some Insurance Companies check your credit score when giving you a quote. This type of inquiry is a “soft credit pull” and does not impact your credit score. These inquiries are not visible to other lenders.

Shopping is a lot of work and I don’t have time

We take the work out of the process- Let us help you!

A Committed Team

We have a dedicated team at PyraMax Insurance Services that will help find you the right insurance by gathering quotes from multiple carriers to find the best solution for you. If for any reason a unique situation arises that we cannot meet your need directly, we will help you connect with the resources that can assist you.

We are here to help you!

Contact Kelly at 414-235-5897 or kmueller@pyramaxbank.com to get the process started or reach out directly to our PyraMax Insurance Services team at 877-734-3246 or online at www.pyramax.insuranceisle.com