Saving Money on Insurance
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Insurance-Insurance-Insurance
(I believe that was the name of the forum thread!)
A number of folks have asked about insurance. A sore subject for the CEO of
one company.
Please take note-
If you are closing, you don’t need insurance and you probably prepaid.
Contact the person who sold you and get a refund; it’s the law.
If you are staying open, try an independent agent that can check into
Hartford; you will not believe the rates and deductible difference. Consignment
shops have been around for many years; so yes, you should be able to get
insurance elsewhere with no problems.
It seems that some of the franchisors require you to buy insurance through a
specified person, and he may say you can not cancel. Actually if you ever get a
copy of the REAL policies you will see that you can cancel, and you want to
check to see if the “agent” you thought you were talking to is a real agent or a
genuine broker. Yep, that’s right; some of the policies actually being sold state
that the person you are dealing with “is not an agent or broker”. In fact in my
state, it is insurance fraud if someone misrepresents themselves as an agent or
broker; and I can not buy insurance from that person (that’s right the person
AND the agency must be certified). Also, ALL fees must be itemized and
disclosed. You should actually have one or more of those LONG insurance
policies (without the white out by Corp. censors) that explains what you are
really getting. So check this out and save yourself some money!
(I believe that was the name of the forum thread!)
A number of folks have asked about insurance. A sore subject for the CEO of
one company.
Please take note-
If you are closing, you don’t need insurance and you probably prepaid.
Contact the person who sold you and get a refund; it’s the law.
If you are staying open, try an independent agent that can check into
Hartford; you will not believe the rates and deductible difference. Consignment
shops have been around for many years; so yes, you should be able to get
insurance elsewhere with no problems.
It seems that some of the franchisors require you to buy insurance through a
specified person, and he may say you can not cancel. Actually if you ever get a
copy of the REAL policies you will see that you can cancel, and you want to
check to see if the “agent” you thought you were talking to is a real agent or a
genuine broker. Yep, that’s right; some of the policies actually being sold state
that the person you are dealing with “is not an agent or broker”. In fact in my
state, it is insurance fraud if someone misrepresents themselves as an agent or
broker; and I can not buy insurance from that person (that’s right the person
AND the agency must be certified). Also, ALL fees must be itemized and
disclosed. You should actually have one or more of those LONG insurance
policies (without the white out by Corp. censors) that explains what you are
really getting. So check this out and save yourself some money!
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