How to Shop for Liability Insurance It's important that your organization has the best insurance at the lowest cost to cover the exposures that arise out of the important work you do. Not only may insurance coverage be necessary to comply with the guidelines of your funding sources, it also helps protect your assets, board, and staff. CAN Insurance Services (CIS) will help you understand your options and assist you in selecting coverages that best suit the needs of your organization. When Should You Shop
Most liability insurance plans are annual contracts and if you move your insurance to another carrier before your renewal date, you'll probably be penalized for an early cancellation. So the best time to "shop" for liability coverages is at the time of your renewal. To obtain as many competitive quotes as possible, it's best to contact us approximately 90 days before your renewal date. This will give us time to obtain information from you, submit it to the carriers for quotes, and to provide you with the best possible service. Using an Insurance Agent
An insurance agent, such as CAN Insurance Services (CIS), acts as your advocate with the insurance carrier. A good agent can assist you in determining the types of exposures your organization faces and the coverages you need to protect your assets, your board, and employees. They will provide you with competitive quotes from all the available carriers as well as assist you in the review and selection of coverage. You should receive ongoing support from your insurance agent, including assistance with questions, claims, loss control programs and administrative issues. It doesn't cost you to use an insurance agent. Because insurance companies are not set up to provide on-going customer service, shopping and administrative support to consumers, they pay a fee to insurance agents to provide these services. Some insurance companies, such as AAA and State Farm, use their own in-house agents to provide these services. However, these in-house agents will not provide you with comparison quotes from other companies. Independent insurance agencies like CIS, will obtain competitive quotes from numerous carriers so you can compare coverages and costs. The Shopping Process
After insuring hundreds of nonprofits for more than twenty years, we've developed an expertise in the insurance needs of these organizations. This is the process we'll use in assisting you: 1. With your help, we'll gather the minimum necessary information about your organization and your current coverages. 2. As quickly as possible, usually within 3 to 4 weeks upon receiving completed information, we'll provide you written, comprehensive quotes showing various coverages and costs. 3. We'll review your options with you, providing you with information about the carrier, coverages and prices. 4. Once you've selected a policy, our staff will assist you with the entire application process (it's important not to cancel your current coverage until you receive approval on your application from the new carrier). We'll review your application to make sure it's complete, submit it to the carrier, and follow-up to make sure the process is proceeding smoothly. 5. Once your organization is enrolled, you won't be shuffled from person to person hoping to find someone to help you. Instead, you'll receive a direct toll-free number to a CIS representative who has been assigned specifically to your agency. They'll work for you from start to finish assisting with questions regarding coverage, claims, billing and administration. 6. Your agency will also have access to a customized, secure portal within CIS' website. Your insurance information, forms and direct links to your carriers and CIS representative will be at your fingertips. Also available are important resources such as the latest workers' compensation reform, loss control strategies, HR regulations and a wealth of other materials vital to the operation of your organization. Join the hundreds of nonprofits that have saved time and money by shopping with CIS!
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