When you get right down to the fundamental reason you buy insurance, it is to solve a problem. If you have a fire or some other loss, it becomes a problem. Many people look at insurance as an umbrella; you open it, and when bad things happen, the umbrella is designed to protect you.
But there is a problem, which is when you select your umbrella (insurance agent or policy), how do you know it will protect you? Are you confident that when your agent provides the solution, it is actually designed to meet your risks and your needs? Not all insurance policies are created equal. If your agent does not take the time to understand your unique issues, your agent is doing you a disservice.
One of the most important things an agent can do is genuinely understand your risks, then communicate with you in a way that helps you better understand what direction is best for you. Here are some problems that your business may have:
- Obligations through leases or other legal contracts – There are many ways to address these risks; insurance may not be the best, or only, option for you.
- Increased costs of your fleet operations – Did you know that one solution might be to develop a driver safety program? It can reduce fuel expenses and accidents.
The best way to solve a problem is to first understand it. Understanding a problem involves asking questions, reviewing agreements, and visiting the facility or business.