One of our partner carriers has come up with a great video that goes over 7 tips for buying insurance. Hanover Insurance is a program partner carrier for our brewery clients and these tips are excellent not just for brewers, but for most business insurance consumers as well. Please spend a couple minutes to watch the video below. The tips are also below if video is not your thing.
- Work with an Independent Agent. An independent agency works with several carriers and can help guide you to the right one. Their primary interest in in protecting you.
- Choose a packaged insurance solution. Bundling with one carrier is not only convenient for mailing and billing, but could offer discounts not otherwise available.
- Value Expertise. Craft breweries have unique exposures. Working with an agency like Brew Insure who has experience with brewery insurance will help assure that you get the right coverage and right price.
- Don't automatically choose the lowest price. Polices and carriers will differ in their offerings. If a price seems too good to be true, it may mean you are missing vital coverages for your business.
- Save money with a higher deductible. Consider absorbing the very small claims and using insurance for larger losses. This will reduce your premiums and avoid possible future cancellation should you put in a few small claims around your low deductible.
- Compare apples to apples. This means to look beyond price. Work with your agent to review coverage when deciding on a carrier. You could really be comparing apples to lemons...
- Review your policy annually. Your business needs and exposures can change regularly. Reviewing annually with your agent can address exposures