Bundling Commercial Insurance Los Angeles Policies Has Its Advantages
- November 7, 2019
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IN THIS BLOG
Commercial Insurance Los Angeles Policies
Lesser Agents to Instruct
Ensure that Your Commercial Insurance Los Angeles Policies are in Sync
Security Risk is Reduced
Commercial Insurance companies in Los Angeles recognize that it is less expensive to offer extra lines of coverage to a current customer than it is to try to recruit new ones. They also understand that the more lines a customer has, the longer they’ll be with them. Insurance providers benefit from bundling plans, but their customers benefit even more. Combining your business policies can provide benefits far beyond cost savings, similar to how bundling your personal home and vehicle policies can save you money.
Commercial Insurance Los Angeles Policies
Most businesses require a number of Business Insurance Los Angeles policies in order to properly insure their operations, including:
- Commercial Property
- Professional Liability
- Commercial Auto
- General Liability
- Business interruption
- Cyber Liability
- Workers’ Compensation
- Directors and Officers
Keeping track of so many policies is a difficult undertaking for business owners. As a result, combining numerous policies with the same carrier makes things easier in terms of bookkeeping. Aside from having fewer expenses to keep track of each month, having the bundled insurance renew at the same time each year simplifies renewal time.
When you’re hiring a new employee, have claims questions, expand a location, or make any other business actions that affect your insurance, your HR staff will appreciate having one number to call.
Lesser Agents to Instruct
In order to properly insure your business, you must first describe what your company performs and the risks that come with it to your insurance agent. However, if you don’t bundle your policies, you’ll have to train more agents, which takes time. The fewer agents you work with, the better ready they’ll be to help you discover and mitigate your risks.
Ensure that Your Commercial Insurance Los Angeles Policies are in Sync
In some cases, two of your Los Angeles Commercial Insurance plans may be required to work together. You could think that something that isn’t covered by your commercial auto coverage will be covered by your commercial umbrella policy. Many umbrella policies, on the other hand, will only cover you if the insurance firm providing it has a certain financial strength rating. Your umbrella coverage may not cover an auto loss if your carrier’s rating falls below a specific grade. That’s only one of the issues that could develop if you retain your insurance under different houses and with different agents.
Security Risk is Reduced
When applying for insurance, business owners must reveal sensitive personal information about their employees as well as financial information about the company. When you divide your policies among many agents, you’re basically giving all of that information to more people than you would if you had just one agent. And you’re raising the chance of very sensitive information falling into the wrong hands as a result.
Overall, when you bundle your business’s insurance policies, your insurance agent can offer you multiline discounts that help you save money. To determine whether any of your insurers offer multiline savings, contact NEWS Insurance Services at 949.791.1300. We can estimate the cost of grouping your plans with each carrier. Get your Commercial Insurance Quote Now.
