How to bid our insurance?

Started by TracieS • 3 replies • 1202 views

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TracieS (Colorado)
Posts: 460

Posted:

I have a few insurance agents calling to bid on our business owner and DOL policies.

Are there any tips on how to do this? I was thinking of just copying my coverages and sending them out, but I'm wondering if I should white-out anything? Each agent would be coming out to do a walk-around and take measurements, etc. anyway.

Thoughts?

SusanW1 (Michigan)
Posts: 5,202

Posted:

Just be sure that the bids are apples to apples.

Take the present policy and see what others can do with the same coverage.

TimB4 (Tennessee)
Posts: 21,059

Posted:

Tracie,

I agree with Susan on comparing apples to apples. If the company wants to suggest more coverage or other options, have them make that a separate quote and listed separately. This way you can still compare the apples to apples in making your decision and decide on the other coverages individually.

Tim

TracieS (Colorado)
Posts: 460

Posted:

Thanks for the info. We're currently under-insured by just a bit, so I'll try and get two quotes from any bidder (an apple-to-apple) comparison AND a "recommended" coverage (I guess, however they define it).

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