What a Good Insurance Agency Does If Your Insurance Is Cancelled

Having your insurance policy retracted by an underwriter is something that any individual or business owner is reluctant to even think about. The fact is though that these things can happen and they can happen to anyone or any institution.

When a policy is cancelled, it is likely that it comes suddenly and unexpectedly. The sudden lack of coverage of course comes with serious repercussions. Naturally, an immediate fix will not always result in the best solution.

Here’s a genuine episode of an insurance policy that was rescinded without prior warning but ended with a happy resolution thanks to the expertise of an experienced agency.

As told by the insurance specialist in the commercial lines department of the agency:

Not long ago, the attending broker at the agency received a phone call from a business office building.

“I need a good insurance plan for my new building,” he said.

All factors about the property told the agent that this would be a simple transaction. With a new building made completely of steel and concrete there was no indication that any difficulties would crop up.

After an insurance search, a tailored policy was procured at a good rate. Following a preliminary inspection by the insurance company, the all-clear was given and the comprehensive policy was bound at a nice rate – $12,000 a year for $11 million coverage.

Out of the blue, the insurance company told the servicing agency that it was necessary to conduct a sprinkler inspection on the building. As the commercial property sprinkler inspector took in the condition of the sprinkler system, he noted that there were four decorative panels on the outside walls that did not suit the non-combustible material criteria of his company.

With the office building downgraded to the insurance class of a frame structure, the former office building policy was abruptly rescinded by the insurance company.

The distraught office building owner was told that the agency’s commercial lines specialist would shop the network of providers for him.

And she did – quite successfully, in fact.

The broker got immediately down to business. She negotiated with another insurance company that initially had given a slightly higher rate than the one bound and presented a tailor-made policy to the office building owner that included even wider coverage along with a cheaper premium than the cancelled policy.

You can guess the epilogue to this tale. There was one extremely satisfied client due to the agency’s untiring efforts to locate a winning conclusion.

Commercial Insurance Mercedes Quote Van – 3 Things You Need from Your Company

If you have chosen a Mercedes van for your business or personal needs, it is already apparent that you appreciate quality, since Mercedes is one of the best names out there in vans. So, you also need to make sure that you get quality insurance for your van as well, which you can do by getting a commercial insurance Mercedes quote. Van insurance is important no matter what type of van you have, but when you are looking for the right company, here are three things that you need to look for.

Quality

First of all, when you are looking for a commercial insurance Mercedes quote, van insurance companies need to show that they can provide you with quality cover. You’ll want to make sure that the products offered to you by the company are quality ones and that they will truly provide you with the cover that you need to keep your commercial van protected. If the company is not a quality one, then you’ll need to keep looking until you find a quality company.

Reliability

Reliability also is important when you are looking for a commercial insurance Mercedes quote. Van insurance companies should be able to show that they are a reliable choice that will be there when you need them. Find out about their customer service and whether or not you have 24 hour access 7 days a week to help from the company should you need to make a claim or get information. The last thing you need is a van insurance company that isn’t there when you need them.

Security

Of course you also need security from a company as well. When you are looking for a commercial insurance Mercedes quote, van insurance companies that you consider should be secure. Make sure that they actually have paid out on claims in the past so you don’t end up high and dry when you make a claim.

If you are able to find a company that offers quality, reliability, and security, then you’ll have a great insurance company for your Mercedes van. So, since you have the best in vans, make sure you get the best in van insurance too.

Commercial Truck Financing – What Affects Interest Rates?

The best commercial truck financing means low interest rates and low monthly payments. Businesses that do not make sure that they receive the best deal on their loans may have difficulties making a profit if the majority of their revenue has to be expended on re-paying loans. The way to avoid this scenario is to have a solid plan before seeking commercial truck financing.

Business owners’ personal credit is going to be just as important as their business credit to a future lender. Careful planning means that these business owners will need to obtain their personal credit reports as well as their business credit reports to make sure there are no mistakes on them that contribute to lowering the scores. If these types of mistakes exist on the credit report, business owners can have them removed before a lender will have to check these reports. The business owner needs this score to be as high as possible, because a high credit score means lower interest rates.

Taking time to save for a substantial down payment, at least 20 percent will encourage lenders to offer lower interest rates. Commercial truck financing that is requesting the full purchase price for the truck gives the lender 100 percent of the risk. When business owners agree to take a significant amount of the risk from the lender, they reward these clients with low interest rates. Loans with low interest rates do not take as long to pay off, and they allow business owners to see a profit sooner than they would with higher interest payments.

When in the process of purchasing commercial vehicles, business owners can take the opportunity to become pre-qualified for their commercial truck financing. When they do this, they know what type of interest rates lenders are offering and they also know what terms they may be able to obtain. When they go in to purchase a truck with this knowledge, they can immediately compare their pre-qualified deals to the one the dealer’s financing company can offer.

Trucks are being sold a lot lately. The economy has made it so that people who drive trucks for a living are deciding to go into some other form of business because of the high price of gasoline. This fact makes it possible to find used trucks that are in very good condition that will have a much lower ticket price. Business owners can easily find these trucks by doing a search online, and a lower purchase price will make it easier for them to afford a 20 percent down payment.

By setting themselves up to receive the lowest interest rates and the best terms, business owners make it easier to obtain the financing they need.