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.
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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.