Interested in Bundled Services? Insurance Brokers Can Help
Business insurance is often purchased as individual products, but bundling can help you save on costs and provide other advantages. Unfortunately, too few business owners realize this, leading to wasted revenue. The good news however, is that bundling business insurance products may be easier than you think. Below are a few considerations if you’re currently purchasing business insurance products individually:
Too Many Companies Causes Confusion
One of the top concerns when seeking business insurance is purchasing protection from too many companies. The issue here is that some companies only offer specific insurance products. This then leads business owners to partner with multiple companies for coverage, leading to confusion. Over time, it can be easy to lose track of which company is providing what insurance product, leading to improper coverage for business locations, employees, business property, and customers. Bundling insurance coverages can resolve this issue by creating a concise view of all coverages from a single provider.
Differing Levels of Coverage
When you don’t bundle, you may also have to contend with differing levels of coverage. For example, if you receive business insurance for fire protection from one company and vehicle insurance from another, you may think that your coverages are the same in the event of an accident or fire. The truth may be, however, that your fire insurance provider does not offer as comprehensive of an insurance plan as your vehicle insurer. By the time you realize this, you may already be out thousands of dollars or more.
Bundling Generally Saves Money
One of the best advantages to bundling business insurance products is that it often saves money. Because an insurance provider is receiving more of your business, it will be more likely to offer discounts. Essentially, the more products you purchase, the more of a discount you receive. This can be especially beneficial for business owners who have a variety of insurance needs.
Insurance Brokers Offer Bundling Assistance
An issue that many business owners face when searching for insurance bundles is pressure from company representatives. Because a specific insurance company only offers its own products, representatives can only offer limited options, some of which may not be in the best interest of the customer. Independent insurance brokers can provide bundles from multiple providers so that the business owner can see various options. This generally works out in the favor of the customer, both in terms of cost and protection.
The Insurance Brokers at Poms & Associates Can Help Find the Right Bundle
Poms & Associates is a premier provider of business insurance services, and its insurance brokers can help you to bundle services. Two of the major advantages of turning to Poms & Associates are the possibility to save money and get the coverage your business needs. Whether you currently have business insurance or not, the experts at Poms & Associates can evaluate your needs. From there, you’ll be provided with an independent assessment to help your find the bundle that’s right for your business. To learn more about our services, please contact us.
Andrew Rusnak is an author who writes on topics that include business insurance and risk management.