When searching to purchase insurance, most people ask a friend “Where did you buy your insurance?”. Unfortunately, most people do not dive any deeper than this when selecting an insurance professional to represent their business to the marketplace. However, this can be a crucial mistake, especially when navigating a highly competitive insurance marketplace where insurers notoriously try to provide highly constricted and conditioned coverage.
We have all experienced some sort of heartache after making a purchase of goods, services or even insurance. So how do we negate this heartache down the road, specifically as respects insurance products and services? It requires the investment of time to interview potential representatives to discern their level of experience and expertise. The following are some simple questions to help illuminate the agent’s abilities very quickly.
“How many and what specific insurance carriers do you represent that serve my industry?” Ideally, you want this answer to be more than five insurance carriers, so you know that your business is being evaluated by a broad array of underwriters. If the agent advises that they only have access to one insurance carrier for your class of business, this is a red flag and not indicative of an agent that has the ability to position your company in the best possible manner. Why, may you ask? The answer is because this would be equivalent to “placing all your eggs in one basket” and hoping the one insurance carrier provides a coverage offering at a price you find acceptable and that is fair. Working with an agent who has access to multiple insurance carriers will increase your chances of obtaining proper coverage and services that are affordable.
“How many years have you worked in my industry and how many customers do you represent?” Ideally, you want this answer to be more than five years and more than 25 industry specific customers. If the agent advises that they have only started working in the industry a few months earlier and currently represent two customers, this is a red flag and not indicative of an agent that has the ability to position your company in the best possible manner. Why, may you ask? The answer is because there are important service and coverage nuances that have massive protection implications, and it simply takes time and experience to learn these elements. Working with an agent who has years of experience, and many industry specific customers heightens the probability that they have learned these nuances and will be able to negotiate with the insurance carriers in the most assertive way to ensure that your company is properly protected.
“Tell us about your customer service acumen and offerings.” There is a broad array of subjects to be considered in their response to this inquiry, from tactical time sensitive marketing (application) procedures to a general feel for how they communicate. Do they have a thorough client service checklist including timelines? Are they willing to listen to you and take the time to understand the unique characteristics of your business? Are they collaborative and educational, or domineering over the phone or in an email exchange? Agents who are organized, patient and willing to listen and collaborate will go the extra mile to help you navigate the entirety of the insurance procurement process and subsequent follow up services: timely and accurate billing, prompt issuance of the insurance contracts and endorsements, direction when accidents occur, and more.
Using these questions can help you identify great agents that you can work with for years to come. NEMT Insurance understands and values great agents. As a result, we only contract with a select few trusted agents nationally who are dedicated to the Non-Emergency Medical Transportation industry, have decades of experience, represent hundreds of industry customers, and have well-staffed professional teams. If you are a Non-Emergency Medical Transportation company, NEMT Insurance looks forward to working with you through one of our professional intermediaries. As we only work in the Non-Emergency Medical Transportation industry, we are uniquely qualified to be your commercial insurance source.