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Many times as a consumer you may have an untrusting or
standoff attitude towards your insurance agent. Many
times it is because you are not sure what coverages you
are buying or how much you need to buy. Some of the
mistrust stems from the fast talking, pushy salesperson,
who uses scare tactics to lead you to believe you need
every policy under the sun to be protected from a loss.
PHD Protection Team takes a very different approach
than most other insurance agencies. The first step is
for our Protection Team members to understand what
assets you are trying to protect, what are your risk
exposures and to find out what the existing coverages
are. The second step is education. Our Protection
Team will educate you on what the different coverages
are and provide you with a glossary of policy and
insurance terms to help you better understand what
coverages you are getting. The next step is to have you
decide what coverage options best fit your needs. We do
not sell you an insurance policy. We provide you with
all the tools necessary for you to make informed and
educated decisions on your insurance coverage.
So you may be asking yourself,” what type of information
do I need to gather to have a comprehensive policy
review?”
Exposures
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When reviewing your insurance needs, it is critical
to evaluate all the potential risks your business is
exposed to that would have an adverse effect on your
business financial standing (i.e.. slip and falls,
vandalism, workers comp).
Asset Replacement
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Many times businesses insure the value of their
equipment at a depreciated rate, not the cost to
replace that equipment. In other words, how much
would in cost you to replace damaged or stolen
pieces of equipment?
Disclosure
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Yes, it is true ... if you don't disclose everything
upfront when you sign up for your insurance policy,
the insurance company is quite within its rights to
not pay out on your claim. Worst still, they won't
even refund your premium paid to date. Therefore,
don't hold back. Disclose anything relevant to your
insurance upfront to save any claim issues at a
later date.
With this information, our Protection Team is the best
source for advice on your insurance needs. Having seen
many similar businesses, we understand your concerns and
the problems you face. Our Protection Team knows what
works for apartment owners and how to get it for the
best possible price. We know the ropes and can maneuver
you through the subtleties in insurance policies which
will save you dollars in the long term.
Is your business insurance plan wasteful or lacking the
protection you need? Either way it could end up costing
your company thousands of dollars. When it's time to
review your current program, be sure to avoid the two
most common problems:
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Excessive insurance and overlapping coverage
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Under-insurance and coverage gaps
In today's rapidly changing commercial insurance world,
many apartment owners enlist PHD Protection Team to help
them find the insurance coverage they need.
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