We won’t do it. We just will not do it. The answer is “no.” I mean, the answer is so much “no” that it even borders on “absolutely not.” Everyone has a line, and this one’s ours.
We’re Whiteboard Risk and Insurance Solutions, and we will not quote your insurance… at least not to win your business.
People are generally pretty confused when we tell them that. To be fair, the confusion is understandable. Commercial insurance has been done the same way for decades. When it’s that magical time of year that the insurance renews, businesses generally hear from several of their best broker pals who think they can get the best quote out there. The brokers get the information they need, go back to their offices, make some calls, and in a few weeks, they come back to the business with their best quote. Whichever broker has the best combination of price, coverage, personality, and being related to the business owner wins and becomes the broker for the next year or two until the next person comes along with a better quote.
And that’s just the way it is… which is why people get pretty confused when we say that we’re insurance brokers who won’t quote insurance, but let us explain:
Commercial insurance doesn’t work the way that most people think it does. Let’s pull back the proverbial curtain, shall we?
Most people think that buying an insurance policy is like buying a car. You go to a few different dealerships, they all show you what they think is the best car for you, give you their best deal, and then you pick one.
That is not how your business’ commercial insurance works.
What most people don’t know is that most brokers are able to get quotes from the majority insurance carriers. The catch is that each insurance carrier will only work with the first broker who submits a business’ information. At that point, that market (insurance carrier) is blocked to all other brokers.
And that’s a big deal because it means that your business is leaving money on the table.
When multiple brokers offer competing quotes to win a client, they have no negotiating leverage with the insurance carriers. In addition, some carriers will offer higher pricing or even decline quoting altogether if they feel that a business is simply price shopping rather than looking for a partnership. In essence, when insurance renewals are done this way, all of the power is shifted to the insurance companies.
So, how are you supposed to get insurance?
First, interview brokers to find the one that brings the most value to your business. They will be able to get quotes from every insurance carrier, but, instead of simply finding and taking the cheapest one, they can also leverage the various quotes to drive down pricing and ultimately save your organization money. When managed in this fashion, the business is put back in the driver’s seat.
And that’s why we won’t try to win business by quoting insurance. It’s not in anyone’s best interest except for the insurance companies, and even they don’t prefer it.
If you want us to quote your insurance, first make us your broker. And not because you like us or we’re your friends or we bring you donuts or we take you golfing. We think you should choose us as your broker because we provide 33 resources that bring real (both insurance-related and non-insurance-related) value to your business and can have a massive impact on your bottom line.
So, will we “throw our hat in the ring” and quote you?
Nope, but if you need a broker who improves your business, let’s talk.