4 Reasons Why You Need a Broker that Can Handle your Certificate of Insurance
Many people believe that a certificate of insurance is just a piece of paper, a snapshot of a company’s insurance coverages. While it does provide a snapshot of coverage in an effective, precise way, the process of obtaining and submitting a certificate of insurance has many more implications. Here are four reasons why it’s important to have a broker who can efficiently handle your certificates of insurance with the utmost accuracy.
1. You only have one shot at a first impression. First time working with a new owner or general contractor? You want to leave a good impression – no back and forth trying to get the certificate correct.
2. Time is money. The faster your broker can issue an accurate certificate to an owner or general contractor, the faster you can start work on the project. The certificate may not be the only thing you need to start, of course, but it should never hold you up!
3. Need something extra? Insurance requirements may ask for items (e.g. higher limits, specific policy…etc.) that you don’t have. Your broker should never be thrown for a loop by these. Instead, he or she should be able to provide quotes for additional coverage quickly with a competitive edge to get you what you need.
4. What about when you renew? Many times, a project may extend beyond the renewal date of your policy, or you may need to provide proof of coverage to certain vendors year-round. In these cases, it’s crucial that your broker provides renewal certificates in a seamless way.
So, the next time you think that a certificate of insurance is just a piece of paper, think again. It just might save you a headache or two. For more ways to minimize risk while maximizing health, contact a member of the ‘A’ Team.
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