Is it time to review your Property & Casualty Insurance

Author: Staff | Tuesday, Mar 26, 2019

It is highly beneficial to have your property and casualty insurance policies reviewed prior to renewal every few years. At Massey, Clark, Fischer, we are a full-service Agency with expertise in all types of insurance especially property and casualty. Read more about how Massey, Clark, Fischer can help you get the best out of your policies…

 Renewing & Reviewing Property and Casualty Insurance Policy

 The renewal date of your policy(ies) could be any time of the year depending on the start date of the insurance policy. Generally, clients are interested in talking about renewing their insurance coverages 30, 60, or 90 days prior to the renewal date. The other likely factor in determining the renewal date of your insurance policy is the length of the policy period. Policies usually renew annually or semi-annually.  Renewals on your insurance policies should trigger in your mind that the time is now for you to take a closer look at it. If you wish to make any changes to your coverage, verify any payments or discounts or simply want to ensure that you are getting the best out of your insurance policy, the renewal is a good time to do so. This is the time most people contact their professional insurance agents.

 It's a good point to note, that the actuaries and underwriters at the insurance carriers are aware if you are a “shopper” or not with your property casualty insurance carrier for any length of time (and while it is allowed of course), you could be considered a “shopper” and  you could receive different rates if you shop your policy more than once every three to five years. Having longevity with a carrier can help you get your best premiums/coverages and provides for the best relationship with that insurance carrier particularly if there is a “problem down the road” and we need the carrier’s help to rectify the problem.  Carriers are “human too” and they look at all aspects (claim history, payment history, longevity, etc.) when deciding on how to proceed on “out of the ordinary” problems/issues that crop up all to often.

It is important that you make premium payments on time (i.e. good credit history). In addition, having ‘little to no losses’ puts you at an advantage as a carrier would look at these factors when advising us on the best available coverage options for our you.  As an example, we have a client in the construction industry who needed “blanket” Additional Insured Liability coverage to cover their multiple clients that they are building projects for. Blanket coverage, in this example, means that the liability insurance is in a single liability policy that covers all the construction company’s clients at all their construction job locations for that entire policy year at a single premium price.  Before becoming our client, this firm was unable to get the coverage on a blanket basis and ended up having to buy an individual policy for each jobsite location which was prohibitively expensive. Because the client had a good credit history and had no losses, we were able to secure this coverage for this client saving our client tens of thousands of dollars per year!

Come to Massey, Clark, Fisher

 At Massey, Clark, Fischer, our clients come mainly from referrals and friends and our relationships forged since we opened our doors in 1958. We are a  full-service Agency with a wealth of knowledge in all types of insurance. Reach out to us when the time for your insurance renewal comes. In fact, we encourage our clients and remind them every few years to review their property and casualty policies 90 days prior to their renewal. Is it time to review your property and casualty insurance? Talk to the professionals at Massey, Clark, Fischer today!