Business Owners: Why Hiding Your Insurance Price Can Backfire

Picture a buyer who walks into a realtor’s office and won’t share their price range. They won’t say what they’re pre-approved for. They just say “show me the best houses.”

What happens? The realtor guesses. The buyer sees the wrong homes. Everybody wastes a few weekends.

Commercial insurance works the same way.

I've been getting a lot of requests to quote great accounts but they only give me the bare minimum. I'm sure they worry I’ll just come in a few dollars under it. That’s a fair concern.

Here’s what most people don’t see. Behind every quote is an underwriter with a full desk and me trying to put together the best submission to them on your behalf. They decide which files get their time. When they don’t know where your current pricing sits, your file goes to the bottom of the pile. They put their effort into the files they have a real chance of winning.

So holding back your numbers doesn’t keep your agent honest. It tells the underwriter your file isn’t worth much effort and it prevents me from getting you the best options.

I’m not trying to beat your price by a dollar. I want to come in with something that really makes a difference for you, make sure your program fits your risk profile and that it's priced fairly.

Give us the full picture and we can do our best work.