When a producer was reviewing a potential customers coverage, he noticed that the customer had very little coverage for his business. The customer only had a small amount of property insurance and no liability insurance. The producer decided to work with the customer to find a better insurance solution that would protect his business.
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The Producer’s Review of the Customer’s Coverage
As the producer was reviewing the potential customer’s coverage, he noticed that the customer had a very high deductible. The producer also noticed that the customer did not have any health insurance. The producer felt that this could be a potential problem if the customer needed to go to the hospital.
What the Producer Noticed
The producer noticed that the potential customer’s coverage was inadequate.
The Producer’s Recommendations
As the producer was reviewing the potential customer’s coverage, he noticed that the customer had not purchased enough insurance to cover all of his assets. The producer recommended that the customer purchase additional insurance to protect himself from financial loss.
The Customer’s Response
The producer was reviewing a potential customer’s coverage when he noticed the customer’s response. The customer had a good credit score, but the producer was concerned about the customer’s ability to pay the policy premium.
The producer was reviewing a potential customers coverage and noticed that the customer’s policy did not have medical payments coverage. The producer was concerned that the customer might not have adequate coverage in the event of an accident.
What We Can Learn from This
As the Producer was reviewing a potential customer’s coverage, he noticed that the customer had not scheduled their valuable art collection with a proper floater. The Producer was able to mention this to the customer and place the coverage for them.
As we can see from this example, it is important for producers to be familiar with their customer’s schedules in order to provide them with the best possible coverage. In this case, the Producer was able to save the customer from a potentially devastating loss by properly scheduling their valuable art collection.
How to Avoid This Situation
When a producer was reviewing a potential customers coverage, he noticed that the customer had not purchased any protection against loss of use. The customer’s business is one in which the value of lost business due to a fire would be significant. The producer shared this information with the customer and recommended that she purchase loss of use coverage.
The Bottom Line
After reviewing the potential customer’s coverage, the producer noticed that the customer had a high deductible and was only covered for 75% of their transportation costs. The producer also saw that the customer had a low policy limit and would only be covered for $500 in damages.