Article Link: http://exchangepress.com/article/questions-to-ask-your-liability-insurance-broker/5016924/
“Liability insurance is now more competitive than it has been in a long time.”Kathryn Hammerback, Princeton Academy, Colorado Springs, Colorado
“This year, for the first time in 30 years of shopping for insurance for my center, I actually had insurance salespersons calling me to solicit my business.”
Craig Hammer, Educational Programs, Inc., Monrovia, California
“The cost of liability insurance, which went through the roof about four years ago, seems to have stabilized recently. For the last three years, premium increases have been in the 3-4% range.”
Mike North, New Horizons Child Development Centers, Edmond, Oklahoma
For those of us who remember the ‘90s when we went through an insurance crisis with liability insurance becoming scarce, statements like these are most encouraging.
However, this good news does not mean that center administrators can be any less vigilant when shopping for insurance. You still need to be sure that your insurance is adequate to cover all your needs and that you are taking advantage of all the cost savings available to you.
To help you with your shopping, here are some important questions to ask your insurance broker, based on my interviews with Hammerback, Hammer, and North:
Are we covered when . . . ?
It’s Nervous Nellie time. ...