Why Choose One Insurance Provider Over Another?
Why Choose One Insurance Provider Over Another?
When it comes to choosing the right insurance provider, there are many important considerations to make. Here is a breakdown of some key areas to keep in mind as you navigate the process of finding the best insurance for your personal and/or business needs.
Identifying Your Insurance Coverage Criteria - what do YOU need?
Before you start looking into which insurance company or provider may be the best choice, you will want to examine your own insurance needs. For example, what is the insurance areas you need to cover, for example home, vehicle, rental, and pet insurance.
Then from a business perspective, small business insurance versus larger business insurance, and of course the specific needs of your business are important to identify before opting for one insurance provider over another.
That said, some insurance companies specialize in certain types of insurance coverage and this can help point you in the right direction when landing on the right provider.
Reviewing an Insurance Provider’s Reputation
Once you have outlined the insurance criteria that is unique to you, you can continue this process by doing your research on different types of insurance providers. At this stage, you are also looking beyond what type of insurance they offer and are gathering more information about their reputation.
Here, you can learn more about their history, for example how long they have been in business and the nature of how effectively they have served their clients over the years. Personal recommendations and customer testimonials can also shed light on their level of expertise, financial strength, and the quality of their client care.
Ultimately, this information can help you compare a range of insurance providers based on their track record and then make your choice with more overall confidence.
Choosing an Independent Agent or Insurance Company
Another factor in your decision to move forward with choosing a suitable insurance provider is whether an independent agent or an insurance company is the better fit for you.
Working with an independent agent can be beneficial as they can help you determine which insurance company is suitable for you. They can also assist you with finding the best rates and policies, as they can access insurance products from a variety of companies.
Choosing a company on the other hand, can also have its benefits, as they may in some cases, have a greater sense of expertise in one given insurance coverage area. However, you also want to ensure this is not limiting to you in terms of your options.
While either can certainty have their advantages, it really comes down to examining the pros and cons of each and pinpointing which option better aligns with your needs.
Acknowledging the Accessibility of Service Interactions
One other relevant point to mention is how easily accessible it is for you to obtain and manage your insurance policy.
For example, an insurance company may offer a variety of e-services, such as paying your bills, and making claims online. They may also provide around the clock customer service and support in response to important questions related to billing, etc. You may even be able to adjust your policy online, which can take convenience to a whole new level.
If this kind of ease-of-business approach to insurance management sounds like it reflects your needs, then you may also want to keep this in mind as you look towards selecting an insurance provider.
At Leaders Insurance, we are happy to provide the support you need to find the most suitable type of coverage that will best align with your business and/or personal insurance specifications.
Business Insurance for the Winter
Business Insurance for the Winter
Winter is coming! This is of course, nothing new to Canadians, however before it does arrive once again, there are several important steps that we can take to make sure our lives run more smoothly and safely during the colder months.That being said, it is a good time, especially to revisit your business insurance to ensure you have the proper insurance to cover your needs during this time.
Typically, winter will present conditions such as, a significant drop in temperature that can lead to icy and snowy weather. As such, these wintry weather realities can lead to a variety of risks that if not addressed, can have a detrimental impact on your business. Here are some types of insurance coverage that can effectively support your business needs for the duration of the winter season.
Commercial General Liability Insurance
With the presence of ice and snow, also comes slippery driving and walking conditions. While you can do your best to prevent this by removing snow and salting these areas, as well as taking precautions to avoid accidents inside your commercial space, the reality is that some times people will still slip and fall.
If these areas are on your property you can be found responsible for injuries that occur to others or their property. As a result, it is best to look into having the proper general liability insurance so that your business is protected from these types of incidences.
Commercial Property Insurance
While cold weather conditions can vary from provide to province, in BC, Canadian winters can mean a range of weather elements as well. For this reason, it is also important to ensure that you have the appropriate insurance to support cold and stormy weather of all kinds.
High winds, sleet, ice, and snow can also do damage to your business, so having Commercial Property Insurance should also be a top consideration. Not only can the winter cause damages to the outside of your building and external property, it can also impact the inside of your business by destroying equipment and other commercial assets.
Again, you may be found responsible for your business causing damage to other third parties and their property, and property insurance can help with these financial ramifications as well.
Therefore, it is well worth having another look at this type of coverage before the winter season arrives in full force.
Commercial Auto Insurance
One other area of business insurance to consider this winter is Commercial Auto Insurance.
Since your vehicle is also an extension of your business and can also be involved in these unwanted situation, it is a good idea to consider adding auto insurance coverage to your commercial insurance policy.
With slippery conditions, roads can be made more unsafe and accidents can unfortunately happen. Not only does auto insurance help with legal actions against you, it can also protect you from the potential losses associated with repair and replacements costs for your company vehicle.
To help offset the worry and expense of these types of incidents, it is definitely worth re-examining whether you have the best commercial auto insurance for the demands of the winter months.
You likely already have some of this insurance coverage already in place, however it is best to review your current policy to make sure you have the right amount of coverage for any potential risks that can arise as a result of more harsher winter weather.Reach out to our experts at Leaders Insurance and let us help to ensure you are well protected from the cold this winter.
Cyber Insurance Trends 2022
Cyber Insurance Trends 2022
While we have definitely been broadening our horizons when it comes to using technology in many different aspects of our lives, the last couple of years have seen an acceleration of technology being further incorporated into the business world as well.That being said, the insurance world is no different, and as we move closer towards 2022, the reality is that this conversation can not exist without also touching upon cyber security and in turn, cyber insurance.
In 2021, cyberattacks became more and more common and the upcoming year will, unfortunately, be reflect more of the same. In order to ensure you are adequately protected from a wide range of online threats, read on to learn more about the cyber insurance trends for 2022.
The Evolution of Ransomware
Again, while ransomware was nothing new to us in 2021 and even well before that, one major cyber trend to continue into 2022 is the presence of ransomeware schemes. Not only are these the same old ransomware attacks, ransomeware is evolving to become even more of a threat to businesses and individuals as technology advances, and is more widely in use.
For example, monetary expenditures for one thing, increased significantly in the previous year. Not only was data security a leading issue, but personalized money extortions are predicted to grow, with new and improved ways of cyber-hackers targeting business in highly invasive and unique ways.
Fortunately, the goals of cyber insurance plans in 2022 and beyond are likely to address these increased cyber security needs.
The 5G Expansion
Another advancement in technology and the way in which we communicate is the development and expansion of the 5G cellular networks. For individuals and businesses, this mean that cellular technology will align with the need to access the internet from anywhere, even outside of areas where wifi services are otherwise unavailable.
Again while this is an exciting step forward in unburdened connectivity, it also opens the doors to further cyber security vulnerabilities. As such, we can expect to see cyber insurance areas acting accordingly, and businesses will want to be like-minded in their approach to protecting themselves and their employees from these potential cyber risks.
The Continuation of Remote Work
Perhaps not at all appearing to be a completely new trend at this point, remote and working from home is, however here to stay. Since this major shift, there has also been a heightened level of cyber-attacks in 2020 and 2021, with ransomware threats, for example, being linked to increased remote work environments.
With this growing trend seeming to have again presented an opening that cyber criminals are more than happy to exploit, companies and individuals will want to thoroughly ensure that they are taking extra precautions with safeguarding their data and communication systems from cyber threats as working remotely will continue to be more of the norm in upcoming years.