In the competitive insurance
business, any number of carriers will "low ball" a bid, dramatically
under-bidding other companies in an attempt to buy your business. However,
buyers beware: Inferior service and an inevitable increase in rates often
accompany low-ball bids. When you put your tire business insurance out for bid,
be sure you consider these four components:
1) Service: How readily will
you be able to access the carrier’s representatives, and how well are they
likely to maintain contact with you? Will you get your questions answered
promptly and accurately?
2) Claims handling: Will
claims be handled expeditiously, or will they be subject to nit-picking and
bureaucratic delays?
3) Communication: What is
the quality of the carrier’s communication material, and how much of the
communication effort will have to be absorbed by you?
4) Reputation: What other
businesses does the insurance company cover? What kind of relationship do they
have? What do others say about the particular insurance company?
- Source: Tire Review
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