Insurance Consultants Of Maine Newsletter

Insurance Consultants of Maine Newsletter
Scott Simmonds, CPCU
September, 2004
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You're getting this newsletter because you have subscribed, attended one of our Tele-Seminars or have requested one of our ebooks. Feel free to forward this newsletter to your colleagues. Your comments, questions and suggestions are always welcome.

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Biggest Business s Insurance Mistakes -- Here's an excerpt from my ebook, "The 20 Biggest Business Insurance Mistakes." Email me at scott@icofmaine.com and I'll send you a free copy of the whole book.

Mistake #4 - Having More Than One Insurance Agent

You'll get a better insurance program if one agent handles your entire insurance account. This is true of your business and your personal insurance. You may even want your business and personal insurance with the same agent.

Having one agent will save you time and aggravation. Having one agent means that you make one call when you have a problem or a change in your business. Having one agent helps to prevent gaps and overlaps in coverage.

If you follow the advice in the previous section (Mistake #3 is Failure To Review Coverages) one agent means only one review meeting, saving you time.

I've worked with several insurance buyers who thought that it was best to split the business up. Their idea is to let the two (or three) agents fight it out, scrapping for the business. I have never found that such works very well. Come claim time it can be a nightmare when each points to the other for coverage.

If you currently have two agents you know which one is the better service provider. Pick that agent and have him or her handle your entire insurance account.

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Personal Insurance Tip -Don't Buy Towing Coverage - Insurance is for catastrophes. Spend your premium dollars on items and issues that can hurt you financially. Insurance isn't an investment. It's protection. I once had to have my car towed over one hundred miles. I think the bill was $170. One of life's little troubles. Spending $10 on coverage for such make little sense. Coverage is generally limited to $50 or so. Put the money towards an umbrella policy.

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Attend My Tele-Seminars - Improve your understanding of insurance so you can make better decisions. Each session is one hour long. Classes are designed to provide solid information you can use right away to improve your insurance coverage and control your premiums. Go to www.icofmaine.com/seminars.html for a list of all seminars. In September we have three scheduled:

Insurance Trips & Traps For Consultants And Consulting Firms - September 7, 2004

Control Your Insurance Premiums By Managing Your Policy Renewal - September 14, 2004

Insurance Tips and Hints For Non-Profits - September 28, 2004

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Coverage Tip - Flood and earthquake are excluded perils in most property insurance policies. The damage caused by either can be devastating. Check with your agent.

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Your Privacy - I will never sell or distribute your email address to any other person or organization.

Life Insurance - How secure is your life insurance? Do you have the right kind? Is the policy set up correctly? I can help. Call 207.284.0085 or email me at scott@icofmaine.com. Remember, I don't sell insurance so I'm unbiased.

Need A Speaker? I'm pleased to speak to trade, business or service associations about insurance topics. Call 207.284.0085 or email me at scott@icofmaine.com. Also check out my speaker's page at www.icofmaine.com/ispeaker.html.

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Scott Simmonds, CPCU
Insurance Consultants of Maine, Inc.
20 Sofia Road
Saco, ME 04072-9017
Phone 207 284-0085
Fax 801 991-4027
scott@icofmaine.com
http://www.icofmaine.com/

Unbiased Insurance Solutions
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Insurance Consultants of Maine, Inc. is an unbiased, fee-only insurance and risk management advisory firm. We don't sell insurance and never accept fees or commissions from insurance companies or agents.

Comments regarding insurance policies or products in this newsletter are for information purposes only and do not constitute an endorsement. We accept no fees or payments of any kind from any insurance organization or any company mentioned in this newsletter.