If you are searching for information on how to get the best rates for church insurance in Atlanta, Ga., you've come to the right place. As you read on, you will discover that with a little extra insight and good planning, you can consistently enjoy competitive insurance rates. This article presents helpful tips for minimizing your insurance premiums as a church or faith based organization.
Negotiate Your Rates with the Bottom Line in View
To start with, you should take full advantage of all the pricing options that various church insurers have and get ready to negotiate all the way. Treat your church insurance as a business transaction and be ready to negotiate as much as possible. You need to realize that agents involved in church insurance in Atlanta, Ga. are not in it for charity. It's not a form of ministry. It's business. The insurance firm wants to pay as little as they can as claims while they get you to pay as much as possible as premium.
Call Pachuta Insurance today @ 706-769-2262 for the best church insurance coverage.
Seek the Help of Competent and Experienced Businessmen or Administrators
It is wise to seek as much personal knowledge as you can on insurance. But you'd greatly increase your chances of getting the best rates if you seek the assistance of businessmen or administrators who are already vast in the area of negotiating insurance rates. This is particularly important if you have a relatively small church and you don't have a trained administrator working as a staff of your church or ministry.
Minimize Your Claims
To increase your negotiating power, you should do your best to minimize your annual insurance claims. Ensure that your grounds and buildings are free of all forms of hazards that increase your claims. This is because all avoidable claims can make your insurance costs rise by increasing your loss ratio. Your insurer usually takes all the claims you make within the year into consideration when calculating your loss ratio. A loss ratio that is below 65% will make you a more profitable customer. This will in turn allow you to negotiate for lower premiums.
Get New Quotes from Competitors Annually
Don't remain passive each time your policy renewal is due. The time for renewal is the time to negotiate for the best rates available. Most companies providing church insurance in Atlanta, Ga. tell their agents to increase premiums by a small percentage annually. And this happens regardless of the number of claims that have been made. But you can avoid these unnecessary increases and keep your premiums down.
When it is two months to the time of policy renewal, demand for a hard copy showing full details of your loss runs from your agent. Then call all competing agents and give them a full disclosure of your current church insurance details. Ask them for new church insurance quotes. You'd be pleasantly surprised to discover that your current insurance agent will start looking for ways to offer you better rates. He won't want to lose you as a customer. Then take full advantage of this situation and negotiate for the best rates possible.
Just as the details of auto, life, and home insurance policies differ depending on the individual’s needs, the details of church insurance policies will differ based on the needs of your establishment. A large church may need specific coverage on items that a small country church simply does not have or need.
Since you want the absolute best church insurance coverage available without being over-insured, it’s important to take a good, long look at your church’s features and needs. Here are four items that you may want to consider adding to your church insurance policy if they are in any way relevant to your unique situation:
1. Structural Coverage. This one is a virtually universal need, although the amount of coverage will vary based on the size, age, and value of your church. If you have separate buildings on the premises, such as a freestanding fellowship hall or youth center, you’ll want to insure those as well. Structural coverage will generally protect against fire, vandalism, and certain weather conditions, but be sure to discuss the specifics of the coverage with your church insurance agent.
2. Personal Property, or Contents, Coverage. Structural insurance typically only insures the actual buildings, but not the contents inside of those buildings. If your church were to suffer a fire, items such as musical equipment, sound systems, video systems, office equipment, and anything else inside the building is not likely to survive. Contents coverage can either be obtained for actual value or replacement value. Talk to your church insurance agent about the pros and cons of each, as well as about the amount of coverage that is appropriate for your church’s belongings.
3. Comprehensive Liability Coverage. If a member or visitor of your church sustains an injury while on the church’s property, the church may be liable for damages. Liability coverage protects the church, at least partially, from legal action while providing a financial security blanket if such an event were to occur.
4. Coverage for Officers and Directors. As much as we would like to believe that church employees would not harm or wrong one another, sometimes these things happen. If your church has a large staff, you may want to consider some type of coverage that would provide protection and/or financial compensation if your organization is found at fault for a wrongful action against a staff member.
Call Pachuta Insurance today @ 706-769-2262 for the most cost effective church insurance.
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