The Top Five Things Companies Should Know About The Insurance Process

top 5In any industry you will find that there are frequently asked questions with each new client that comes aboard.  This is just par for the course in the education process of clientele.  There are also things that a client’s representative may take for granted as common knowledge which is anything but.  It is the representative’s job to review these things with their clients, however this seems to be the exception for some agents instead of being part of protocol.  Unfortunately this leads to assumptions which can cause many issues such as incomplete or inaccurate policies.   At FBinsure we are always on our toes educating our clients about things that can be taken for granted because we believe an educated client is a client for life!

We polled our sales team and asked for the top five misconceptions they  regularly encounter  when meeting with new clients to discuss their understanding of insurance and the insurance buying process.  Here are the answers that we would like to share with you.

  • Agent selection process – Most insurance buyers believe that their life learned rules for getting “a good deal” on anything also applies to the purchase of insurance. This could not be further from the truth. Selecting an agent is more than just who comes back with the lowest price. When looking for an Agent you must be selective about which Agent you invite to quote  your policy.  Price is important, however more importantly, you should review whether or not the Agent will be your advocate and work to best represent the needs of the business and who  will work with you as your risk advisor.
  • Comparing apples to apples in the insurance buying process is never truly apples to apples.
  • Bidding and Quoting is not the best way to reduce your premium. Creating plans to mitigate and prevent risks is the optimum way to reduce premium.
  • You should meet with your agent so you are fully aware of what is NOT covered on your policy and find out if your current coverage is meeting all of your coverage requirements.


  • Shopping for insurance based upon price can only leave you vulnerable. There is no shortcut in this process. In the end you get what you pay for.


Make sure you understand what your policy does and does not cover.  With any new relationship, you should always ask questions.  Never assume anything because we all know what assumptions can do.  What goes unsaid and unasked could most assuredly put you at a disadvantage at an inopportune time.