As an agent you: 1. Have a lean business with good profitability. This puts you in a better position to handle market or government based price changes. 2. Understand customers pay you not companies. Your customers write the check then the company writes a check to you. Without their money the companies do not get money and you do not get money. Who is the most important in this equation? 3. Have a strong “win win” relationship with your customers. This will give you the benefit of the doubt in certain situations and will create a longer relationship. Longer relationship will typically be more profitable. If your customer is loyal and believes they are more of a partner in your business who cares if it is a commodity you aren’t!
As a company you: 1. Have a consistent underwriting philosophy and do not try and play a hot piece of the market for a few years just to grow. Get good at what you know and make each dollar as profitable as possible. 2. Value your customers. If you have whatever you consider a good risk KEEP IT do not let it go make an effort to make them feel appreciated. 3. Created Loyalty. Give them a reason to trust/love/pay you don’t just say they do. Give unexpectedly, don’t squander unitended loyalty of a long term good paying claims free customer.
As a purchaser you: 1. Make an effort to review your insurance every 12-18 months. Give your agent first try and if not happy find someone else there are plenty of us. 2. Don’t listen to your neighbor/friend/family member about what they heard ask a professional. 3. It is not necessarily a good thing to save $500 on your insurance. $200 is a market swing, no big deal. $500 with no dramatic changes(tickets/accidents falling off, removing coverages, taking a driving course) is not a great thing. Enjoy the money but hope for the next year or twenty that the rate stays the same or goes down slightly.
My opinion of course…