Insurance agents and underwriters around the world are still cleaning up their January 1 renewals.
It happens every year.
By my estimate (not scientific) at least 30% of commercial insurance programs renew on January 1 or December 31.
Unless you are spending $2,000,000 a year on insurance, your insurance renewal is not getting the attention you deserve if your program renews at year end.
Don't pick July 1 or October 1 either. They are almost as busy.
Consider February 1 or April 22 as your renewal dates. Any date but 1/1, 7/1, or 10/1.
The ideas is to be a big fish in both your insurance agent's and your underwriter's pond when your insurance is renewing. You want to get the attention you deserve. You won't get it at year end, that's for sure.
Also, I'll restate my often repeated advice - the best way to get the best coverage and the best premium is to put your insurance out for competitive bid every three years or so.
It happens every year.
By my estimate (not scientific) at least 30% of commercial insurance programs renew on January 1 or December 31.
Unless you are spending $2,000,000 a year on insurance, your insurance renewal is not getting the attention you deserve if your program renews at year end.
Don't pick July 1 or October 1 either. They are almost as busy.
Consider February 1 or April 22 as your renewal dates. Any date but 1/1, 7/1, or 10/1.
The ideas is to be a big fish in both your insurance agent's and your underwriter's pond when your insurance is renewing. You want to get the attention you deserve. You won't get it at year end, that's for sure.
Also, I'll restate my often repeated advice - the best way to get the best coverage and the best premium is to put your insurance out for competitive bid every three years or so.
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