Have you recently had a large claim? Was your insurance cancelled or non-renewed? Does your business perform an out-of-the-ordinary and/or risky function? Insurance is available for every business out there, if you know where to look.
Hard-To-Place Doesn’t Mean Impossible to Insure
Certain types of business don’t fit the mold of a typical insurance company. Your business might be hard to place or high risk if it meets any of the following criteria:
- Owners have no prior experience
- Owners have very little prior experience
- High claims frequency
- High claims severity
- Small operations (low gross receipts or number of employees)
- Large operations (large number of employees or gross receipts)
- Functions that involve a high level of risk for property damage, illness, injury or death
- Operates in risky areas (bad neighborhoods, overseas, etc.)
- Has received a cancellation notice from your current carrier
- Has received a nonrenewal notice from your current carrier
- Has made numerous calls to other brokers or agents and been turned down
Each of the items listed above could make writing a business insurance policy a challenge, but it isn’t impossible. Even if your business meets more than one of the factors listed above, insurance coverage is still available.
You Need A Broker With Connections & Expertise
Hayes Brokers currently works with over 200 insurance carriers to place all types of business for the last 31 years, and they are constantly seeking out new insurance companies to write hard to place and high risk businesses. If you are having difficulty obtaining or replacing the insurance coverage for your business, Hayes Brokers is here to help.