Insurance and are you paying too much for too little?



     As a real estate broker and now insurance broker, insurance is something I've always had to pay for in my professional life. Like most or maybe few, lol? I called my insurance broker friend before I was one when I leased my first commercial space for my real estate office and told him I need General Liability it's required by the
property management company that is leasing me the space. Now when it happen he sent me over a quote I said ouch and paid it. No brainer I thought aka assumed hey this guy is an insurance broker he knows to shop for the best rate for me and get me the most coverage. I was wrong. 
  
      Now that I'm an insurance broker as well as a real estate broker I have learned so much about how little service I got from that friend way back when.
 
      I mean does anyone know about ELPI policies? They protect you if you’re an employer for sexual
harassment lawsuits and conduct type of risks that accrue from behavior in your company’s work place. That is not covered in your E and O and it is definitely not covered in your general liability policy. I had no clue before becoming an insurance broker I assumed my GL aka general liability policy covers that, I was wrong.
 
      Now let's talk about what you pay for your general liability policy depending on your business but most cases if that's all you have is a general liability policy your probably paying too much for too little coverage. There are Policies known as BOP's, Business Owners Packages. These policies offer more than just your basic general  liability coverage and at cheaper and more affordable costs. Yes you can get
better protection for less money. 
 
      So the lesson for today’s insurance blog is don't just assume your insurance person whether it be an agent or broker is providing you the best coverage at the best rate ask questions and lots of them.
 
      We provide a no cost, no obligation analysis of your insurance policies and risks whether it be personal or professional and let you know if you’re good with what you have or if you could be saving money or be better protected. Again it costs nothing and obligates you to nothing. Just shoot me a text/email/or give me a call and we can give you an insurance checkup.
 
      Thanks for lessoning/reading remember insurance is one of those things we must have to avoid wishing we should have had when poop hits the fan. 
 
Guillermo Serafin 
DOI 0H04158 
CA DRE  01471158 
Cell 424-209-8297 
Guillermo.serafin@gmail.com