Insurance Policy

#1
Hello All.
This is more for the brokers out there.
I have a few months before our policy is up. Can anyone recommend some good + affordable Insurers.
I find it hard to believe that our policy is so high.
Thanks in advance
Danny
 

loaders

Site Supporter
#2
We use Marsh Canada. They seem to have a good understanding of the brokerage business and offer an extensive list products. I agree that premiums have increased somewhat dramatically over the last few years. Taking the time to do some comparative shopping would be in your best interest. I am sure the other brokers on this site would be interested in hearing the results.
 
#3
Loaders... I actually spent about a week last year dealing with Marsh( Toronto Office i think)filling out all the docs to get a proper quote. At the end, i never got a quote + my insurance was up so I just signed with my current insurer. I have nothing bad to say about them, perhaps i wasn't dealing with the proper person.
 

loaders

Site Supporter
#4
Interesting. If I had anything negative to say about Marsh, it would be that you do have to keep on top of them for a variety of things, such as renewals, follow ups on claims, etc. Not sure if they are understaffed, or just a bit disorganized. The policies are good and they do handle claims well and once reminded, do address any concerns you might have.
 

bubba-one

Site Supporter
#6
We just renewed last month, was with the same broker for over 15 years. Went to market back in May and had 3 brokers quote. Seems there are approx 12 insurance company's/groups out there. Depending on your size of fleet, we found under 30 truck you get grouped into with True, Linc's or Bluesky ad a few others. Northbidge, Economical, AIG, and a few others are out there but you need to match there criteria. All in all there was a $50,000 spread between the high and the low, which is a huge chunk of change. I do caution buyer beware, as you get what you pay for, but am happy with my new broker so far.
 
#7
Hi Danny,

Our office specializes in commercial fleet, we have access to common markets and exclusive markets, and we have access to a captive opportunity for those who qualify. PM me if you are interested!

Thanks
 
#8
OP, tell me more about the unit count, lanes, Can/US exposure, commodities and experience (losses/years in business) you have. I can guide you in the right direction with insurers, as far as the broker... you should take more time in deciding who should represent you. It's a matter of service and experience.

I hate to say it, but loyalty (with insurers) doesn't come around much anymore. Bottom line is, if you're not profitable for them they're going to dump you or jack you for rate until you dump them.

You need to find dollar savings whenever you can. Just make sure you're getting proper advice when going to market and don't invite 100 jokers... oops, I mean brokers in to quote. It lowers your credibility in the quoting process. Take your broker to market against 1 other broker if you need to... but no more than one. There's not that many markets out there.

Good luck - let me know where I can help.
 
#9
OP, tell me more about the unit count, lanes, Can/US exposure, commodities and experience (losses/years in business) you have. I can guide you in the right direction with insurers, as far as the broker... you should take more time in deciding who should represent you. It's a matter of service and experience.

I hate to say it, but loyalty (with insurers) doesn't come around much anymore. Bottom line is, if you're not profitable for them they're going to dump you or jack you for rate until you dump them.

You need to find dollar savings whenever you can. Just make sure you're getting proper advice when going to market and don't invite 100 jokers... oops, I mean brokers in to quote. It lowers your credibility in the quoting process. Take your broker to market against 1 other broker if you need to... but no more than one. There's not that many markets out there.

Good luck - let me know where I can help.
You refer to your own profession as a joke? Does that ever work when trying to entice new business?
 
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#10
We just renewed last month, was with the same broker for over 15 years. Went to market back in May and had 3 brokers quote. Seems there are approx 12 insurance company's/groups out there. Depending on your size of fleet, we found under 30 truck you get grouped into with True, Linc's or Bluesky ad a few others. Northbidge, Economical, AIG, and a few others are out there but you need to match there criteria. All in all there was a $50,000 spread between the high and the low, which is a huge chunk of change. I do caution buyer beware, as you get what you pay for, but am happy with my new broker so far.
So who did you end up going with? Was it hard to break your long-term relationship?
 

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