I have been in the insurance industry for over ten years. I have talked with a lot of different people and have found that most people generally want to deal with someone who is professional but down to earth. Most importantly they are looking for an Insurance Agent / Insurance Broker who is honest with them and is not just a sales person. Providing insurance for Riverside California Churches is no different.
The average church has no less than 4 different kinds of insurance policies or coverage enhancements. However most churches can have up to 30 plus different layers of insurance. It is no wonder it takes someone who understands churches to put together an insurance policy that will provide the right kind of coverage for them.
The other challenge Insurance Agents and Churches are facing today is the falling income that churches are receiving each month. California Churches have been hit pretty hard with less members and decreasing donations. As an Insurance Agent we are then asked what can we cut from an insurance point of view.
When I hear this question I ask, has anything changed from a risk standpoint or is the change simply finances. The usual response today is lower donations. Before we remove coverage, I first look at what the client will save by obtaining lower limits. After we have lowered the church insurance limits we then look at what coverages we can remove. It is important to mention that by removing insurance coverage the church is taking on the risk. Most of the time the loss exposure is still present which is why the church bought the insurance coverage.
By self insurance a portion of the risk and lowering the insurance limits down churches are able to keep their doors open. It is important that the church buyer understands what risk they are assuming by decreasing or removing coverage. it is also important to add these coverage back once the church is able to afford these coverages again.
Instituting loss control measure can also save you thousands of dollars. Some church insurance carriers will offer you a discount for instituting their recommended loss control procedures. By having loss control measures in place and putting them into practice this can lower your workers compensation experience modification factor which will result in your church obtaining a direct saving on your workers compensation program. It is important to not just have a written plan in place, but someone who puts that plan into action and monitores that plan to ensure it is being followed and modified as needed. This can result in a huge saving to your churches insurance cost. As your church insurance broker I will guide you through this important process.
What are other ways a church can save money on their insurance. By using an insurance broker who specialized in church insurance. We are constantly reviewing the insurance marketplace and seeing if there is a carrier who is offering the same coverage at a lower price. Integrity Now Insurance Brokers has several insurance markets / Church Insurance carriers we have access to in order to make sure you are not paying to much for insurance. Recently a new insurance carrier has entered the market to provide coverage for churches. Their insurance rates have been saving churches thousands of dollars and most of the Churches we insure are moving over to them.
It is important to remember that the insurance carrier is not married to you. You can and should leave them if their pricing is no longer in-line with current insurance pricing.
Please contact us today and we will scheduled an appointment to review your churches current insurance program.
Kevin Edwards, CRIS
Integrity Now Insurance Brokers, Inc.
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