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How To Negotiate With Commercial Insurance Brokers - Take Control Of Broker Sales Interviews - By: Don Bury, Posted on: 2008-06-18

Do you want to save money on business insurance of all kinds, including general liability and workers compensation? Read the article below to get one of the most powerful action steps you can take to drive down your costs while improving your coverage.

These interview can waste a lot of time. Try my suggestion below, and see how much better use of your efforts results. When you follow these procedures, the need for traditional sales interview is largely negated. Furthermore, the farther ahead of policy renewal time these procedures are executed, the easier your renewals will become. By following sound renewal control practices, meetings your broker can be focused on making sure service time-lines are established and followed.

When a broker calls to announce a quotation is ready for delivery and asks to schedule a meeting, consider the following response in lieu of what you might normally say:

"Great. Thank you. Please (email/fax/mail) me the proposal so I have time to absorb it in preparation for your visit."

If you make that your standard response, brokers will come to expect you want information transmitted in advance. Getting quotes in advance protects you from being unduly manipulated by sales tactics. It does so because it helps to separate the commodity of insurance policies (the quotes, and their associated quality and pricing factors) from the professional relationship you have with your broker (the meeting, your broker relationship, the servicing of your account, etc.).

Insisting on getting proposals sent to you in advance, and even asking the broker to include an agenda for the meeting, will do you a great deal of good. You will have time to understand your options and prepare your questions. The meetings will be more professional and productive. And, in some case you may even end up canceling a meeting because the proposals sent proved unworthy of further consideration (saving you from wasting your valuable time, or worse - agreeing to a bad deal in a meeting due to the pressure of the moment or a sense of obligation).

Eventually, professional insurance advice may be given, and purchased, separately from the financial commodity that we call business insurance. If your broker is getting paid by commissions, be aware of the conflict of interest this creates.

But that, as they say, is a topic for another day...

Article Source: http://articleowner.com

Get help from the author of The Buyers Guide To Business Insurance (1993), and founder of Insurance Cost Reduction Services. Over $20 million in measurable savings delivered by helping buyers negotiate with their brokers. Here's where to get free support and direct help: www.contractorinsurancetoohigh.com www.icrs.biz

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