In all facets of life, the relationships we build determine the amount of success we have. No one lives or works in a vacuum—we rely on each other. In construction insurance, the power of building relationships is essential for partner agents. These individuals create a bridge between the customer (insured) and the carrier, providing two-way support and safeguarding trust.
As an insurance company that sells exclusively through a select network of independent agents, we know that agents provide an intangible level of support by understanding their customers’ businesses and having a genuine desire to help them protect them. Shane Cosey, a senior territory manager with Builders Mutual, shares his insights about the role of an agent and why the quality of the agent-customer relationship is so vital.
You and your agent
Running a general contracting or trade contracting company requires a certain set of technical skills, along with general business knowledge. There is certainly a lot to juggle. So, when it comes to determining the right insurance coverage to protect your business, you need to find someone you can count on to lead you through the process. This is where an insurance agent can serve as a trusted advisor and guide.
An agent who specializes in construction knows and understands the relevant products, the marketplace, and pertinent legal complexities. He or she can help determine what kind of—and how much—insurance coverage is needed, as well as the right carrier to go with. Because an agent is local to the customer, there’s an existing community connectedness as well, which can expand the sphere of influence for both parties. And, when accidents happen, the agent can confidently maneuver through the process to help their customer file a claim, avoid potential legal landmines, and prevent costly mistakes.
Even if you are well-versed in insurance, an agent can provide customer-specific guidance and knowledge to ensure you’re truly protected from loss. They can ensure there are no coverage gaps while optimizing your bottom line and use their established carrier relationship to help keep things moving steadily, from handling audits to navigating disputes.
Your agent and your carrier
The protection of your business and the safety of your crews should always be the primary concerns of both your agent and your carrier. Your agent builds—and maintains—the bridge connecting you with your insurance company. So, it’s critical that the agent-carrier relationship has a foundation of trust and accountability. For a carrier to establish a contract with an agent, that agent has to prove they are an industry specialist, because that agent will be the face of that insurance carrier. So, by choosing an industry-specific agent who works with industry-specific carriers, you’re likely to get great service from every angle.
For the best experience possible, your insurance agent should be a true partner with your carrier. Your agent needs to be dedicated to learning about the evolving nuances of construction coverage and being able to deliver the niche expertise you need.
Construction industry insurance agents must always maintain two-way trust. They are responsible for serving their customers well and helping them make the best decisions for their business. Agents work with you to get the best coverage for your specific needs and the right resources for your success. The ultimate concern for everyone, though, is protecting lives and being sure every job-site is safe.
The relationship among agents, customers, and carriers is like a balanced triangle, with the agent being the primary driver of connectivity, determining how successful and effective those relationships will be. As point person, the agent looks out for the best interests of both the customer and carrier. And that’s a pretty powerful place to be.
Interested to learn more? Click here to find a Builders Mutual agent.Print