RealTimeExpress Blog

December 11, 2012

Business Owners Policy. What Consumers Expect From Their Agent.

First, let’s define Business Owners Policy (BOP).  A BOP policy in general is a package policy that includes both property and general liability insurance.  In many cases additional coverages can be added.  A BOP policy covers businesses in the case of damaged or lost property.  In other words, in the event of a claim, you’ll receive enough settlement to replace the property.  The policy can also include personal property.  The liability portion of the BOP protects the business against claims of bodily injury or property damage.  It can also cover legal defense, libel, slander, & even false advertising.

Now the real question.  What do consumers expect from their Agents?

First of all, most policies, depending on the type of business, will have an average premium of $2,500.  For the small business, this can put a big dent in their annual budget.  Most businesses expect the agent to shop more than one market. Doing so, assures the business they are getting the best deal possible.  Price is important.  Using a small commercial comparative premium rater like RealTimeExpress.com allows the agent to immediately build trust by shopping all their markets with a single entry.

Secondly, businesses expect their agent to be the expert.  The agent must know about additional location/building coverages as well as policy enhancement packages.  The agent that knows this information establishes them as the expert in the industry.

Third, businesses expect their agent to explain the differences between multiple insurance company quotes.  Explain why one carriers premium may be higher than another.  Explain why one carrier may offer additional coverages and how that affects pricing.

Agents, for more information about RealTimeExpress.com, contact Mark Van Horn at 214-295-1586.

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