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What, When, How???         

By July 27, 2020 Insurance

Every day we are flooded with information – so much, in fact, that it is undigestible in many cases. No matter what issues make the headlines, the struggle for us remains the same: what is fact, what is fiction, and what is relevant to your life, your company, or your employees? Anyone have that “easy button”?

Once upon a time, as a business owner, the biggest concern you probably had was, “who can I help next?” – tangible or intangible services, starting your own company was created out of the idea to solve some problem, right? Sure, you wanted to make money doing it, but the idea was birthed from the concept that YOU had something to offer the world, and by making it into reality, it would somehow make a difference? Am I right? Ok, maybe I am COMPLETELY off base, and that is not your story at all – if so, you can just stop reading this because nothing from this point forward will benefit you at all. But if there is any truth to what I am saying, keep reading.

Fast forward to today – what has changed? PRACTICALLY EVERYTHING? – yeah, no freaking kidding! Many of the business owners that I talk to seem to have the same common theme. The concern for their company has taken a drastic shift from: “Who can I help?” to “Holy shit, what now?!?”

Business owners spend more time protecting themselves and their company, than working for their company – defense rather than offense. While there are so many reasons why that is the case, if you have stumbled across this article on accident or you happen to be one of the handful of people who actually read these (thanks, Mom & Dad for tuning in again), know that as the “insurance lady”, the soapbox for today is, well, insurance. You’re welcome, in advance! 😉

First off, let me ask you:

How much time do you spend talking about insurance?

Of that time, how much of it is spent within 90 days before your renewal?

Do you know if the insurance program that you have is the correct program for your company?

What about as your company changes – does your insurance program change with it?

Does your insurance agent even know why you started a company, what the goals are for your company, etc.?

Do you know how your insurance agent is paid or how much they are paid? (You just googled this one, didn’t you?)

It’s ok if you don’t know some of these answers – hey, guess what, you’re NOT an insurance expert – unless you own an insurance company, then I sure as hell hope you are!

More than likely your business is not insurance related, and you may not want to deal with your company’s insurance in any capacity – but it is something you SHOULD know about! No, you do not have to be an expert in insurance, but you should know enough to know where your money is going. There is a difference between being knowledgeable about insurance and being an expert. If you are not learning ANYTHING about your insurance program or about ways to help your program perform better – then what is your insurance agent even getting paid to do for you? Deliver your renewal? Wine & Dine you? Deliver the “carriers” message of how terrible the market is, and there isn’t a damn thing any of us can do about it?!? BULL$H*T!

All that to simply say – if you are paying money to protect your company, wouldn’t it make sense to have someone who truly understands how that protection works and how to make it benefit you? Insurance is a large expense; do YOU know where that expense is going?

This is YOUR company – Start asking questions! If you don’t know how much your agent is getting paid OR what they are providing for that compensation they are receiving, then they are getting paid too damn much! Insurance is complex and the solutions are vast but getting straightforward answers and help from your agent – IT JUST AIN’T THAT DANG COMPLICATED!