Many of us carry some type of insurance to deal with accidents and catastrophic loss. Finding the right combination of coverage for loss prevention is crucial for protecting your personal and/or business assets. The Merriam Agency takes pride in our ability to offer clients the coverage they need in order to achieve their protection goals. Finding and keeping an insurance plan, that is both comprehensive and affordable, is our top priority for our clients.
You carry insurance to help put you back in the same condition you were in prior to a claim. Unfortunately, if you use your insurance too often, the resulting equation looks like this:
Losses resulting in claims + Claim Payments = Premium Increase
Once we identify the best and most affordable coverage for our clients, loss prevention education becomes a critical component in keeping that coverage in place.
Simple procedures can prevent losses.
Some simple loss prevention exercises can save thousands in insurance premium dollars. Our service team gladly directs our clients to a multitude of risk management tools available to prevent losses. Use of these tools can be a factor in keeping your insurance premiums down. Just as smoke alarms, defensive driver courses, and security systems help keep your personal insurance rates down, there are also many tools available to help keep your commercial insurance rates in check, as well. Begin by utilizing any and all available loss prevention tools provided by your insurance carrier. Actively participating in loss control surveys, asking for guidance establishing a safety committee, and writing a safety procedure manual for your business are other proactive steps to prevent rate increases due to losses. Simple procedures can prevent losses. Driver screenings, employee background checks, and emergency plans can all help prevent claims.
Being active in prevention helps
If the unfortunate happens, we are available to guide our clients to remedy the problem post-loss. For example, a prospective client had all of their ground floor window air conditioner units stolen, resulting in a claim totaling thousands of dollars. Prior to replacing the units, the client installed attractive, yet thief-proof, wrought iron cages around the ground floor windows. Despite the large claim and increased loss ratio, we were able to secure an insurance program that was better than what they had with their prior carrier, and we saved them money. This was possible due to the steps they took to prevent similar future loss. Simply showing that our clients are active in preventing claims helps us stay one step ahead of rising insurance costs.
If you do not know where to start, just give us a call. We will be happy to guide you. As your service team, it is not only our job, it is our passion. We are here to help!