This Email Shows Why Having the Right Insurance Agent Matters
This email came through my inbox today from Buddy Baumann one of our insurance saleman at Bulk Insurance.
He's negotiating with an underwriter on one of his renewals.
"I would like to see this closer to 40k on the first million. Noting where we were last year, I think 40k is fair. I don’t see this getting over the finish line over 40k, and that is on the high end. We have written a lot of TX accounts this year and 25k/unit is just unreasonable with such a clean and profitable account. They run rural west TX miles. They have 30+ years in the game and hold theirselves and others to the highest standards I’ve seen out of all my insureds.
I am frustrated that you would hold a very profitable account hostage. We are well over the break-in period. My insured has earned a good renewal."
When it comes to your renewal, the outcome often depends on how well your agent can negotiate and tell your story to the carrier. Insurance companies make decisions based on the picture presented, and it’s our job to make sure they fully understand why your business deserves the best possible rate.
As your agent, our role is to advocate on your behalf negotiating the strongest terms and securing the most competitive options the insurance market has to offer.
We'll see how this one shakes out but I'd give Buddy a 8/10 on proving why his insured deserves better renewal terms.
Thanks - Larry Bulk Insurance CEO