The Red-Bearded Risk Guy

𝗬𝗼𝘂𝗿 𝘄𝗲𝗯𝘀𝗶𝘁𝗲 𝘄𝗶𝗹𝗹 𝗯𝗲𝘁𝗿𝗮𝘆 𝘆𝗼𝘂!

Businesses love to advertise services or products on their site they've never actually provided to a customer.

A perfect example is a general contractor I worked with once who almost got declined for their commercial package policy because they offered playground construction.

The owners had built their kids a play structure and figured, "why should I turn down that work if I ever get it?" They just didn't want to miss out on any opportunities as a new company.

So they listed virtually everything under the construction sun on their website, even though 100% of their operations were now apartment remodels and commercial tenant improvements. (Side note: The   crowd might also have some choice words on that)

The website slid under the radar with insurance carriers until one day they got a steep renewal increase that prompted going out for quotes.

A great carrier was offering us quotes that would ultimately save them $10s of thousands of dollars.

But the underwriter checked the insured's website and I received an email saying- "it looks like they do a LOT more than you said they do, Joshua. We're going to have to pass on this one."

They likely thought my client, or I were pulling a fast one.

This generalist marketing approach, cost us hours of conversation and emails back and forth to get the carrier to come back around. We aren't always this lucky and I usually try to get my clients to fix this before submitting for quotes.

Has this sort of miscommunication ever cost you big with your insurance policy?

Who would you turn to for advice on making sure you're getting the most out of your website while not triggering insurance or compliance issues?

Message me with any questions. Post your comments below! Share with a friend if you thing it'll help.



Follow me and ring the bell Joshua Keene, AAI (LinkedIn, IG and FB) and
my page The Red-Bearded Risk Guy

𝗖𝗵𝗲𝗰𝗸 𝗼𝘂𝘁 𝘁𝗵𝗲 𝗥𝗲𝗱-𝗕𝗲𝗮𝗿𝗱𝗲𝗱 𝗥𝗶𝘀𝗸 𝗚𝘂𝘆 𝗣𝗼𝗱𝗰𝗮𝘀𝘁 𝗼𝗻 𝗔𝗽𝗽𝗹𝗲, 𝗦𝗽𝗼𝘁𝗶𝗳𝘆 𝗲𝘁𝗰.

Rapid growth is exciting! 💪

The other day I met with a contractor who grew from 5 to 30+ employees in the last couple years!

When the owner got started, he reached out to his personal home and auto insurance guy and got what he needed for his contractor license. He got to work!

Fast forward to my meeting with the owner’s wife and their office manager. The ones who actually deal with insurance…

They recently had a question and called their agent to see if they needed a coverage they didn’t know about.

Their agent couldn’t explain whether or not they were exposed to that risk or why one might by that coverage. He just offered to quote it.

This happens in all industries, but I see it a lot with the GCs and trades contractors I help e.g. electrical, plumbing, HVAC etc.

They’ve outgrown their insurance agent.

It’s time for them to partner with a commercial brokerage who understands their needs.

Has your business outgrown your insurance agency?