Rethinking Friday Harbor Business insurance

August 23, 2015

Many organizations in do not have the luxury of having a full time or even part time trained risk manager.  The reasons for this may include cost, not having a need for the position, or relying on outside consultants or agents for help. Over the years we have seen well intentioned buyers of Friday Harbor Business insurance and risk products make decisions that, while they may appear to help the organization, actually hurt it in the long run. Here is a list of top mistakes that uninformed insurance buyers often make. We provide it to you in hope that you can learn from the errors of others.

Thinking That Bidding Your Insurance Is The Best Way To Get The Best Program

Most insurance buyers have the false belief that getting three bids from three different agents is the best way to make sure they are getting the best “deal”. This is like asking a builder to provide a bid without seeing the building plans. When talking to your agent about your insurance issues, give the agent the full set of “plans,” including losses and premiums, financial data, and policies. Utilizing the services of one agent whom you can trust will lead to reducing short term and long term costs. Comparing multiple conditions, including terms and conditions, in addition to premiums is crucial, as even the best priced policy can fall short in other areas.

Your Agent Should Be A Trusted Advisor

Many buyers have the false belief that the agent’s only function is to place coverage and administer insurance. Your broker/agent should be offering much more than that. Your broker should be helping you identify risk factors, and developing solutions that help you to manage these issues. 

Coverage And Risk Change Over Time

It pays to keep up on the changing risk and insurance landscape. Trending risks like cyber, employment, pollution, professional liability, and directors and officers liability, should be part of your business insurance package.

Insurance coverage that protects your company – so you can get back to business

Safe Harbor Insurance knows business in our communities – you can find our offices in Friday Harbor, and our clients all around WA. As an independent insurance agency, we take pride in reviewing your options with multiple insurance companies and comparing protection and prices to find the best value for your business.

We’re proud members of the Friday Harbor marketplace, and we’re committed to being an advocate for you and your business in times of need.