Don’t just service your client... Over service your client!

I started my agency like most agents do.

I grew my book of business by writing Auto, Home and Life insurance. 

After a few years in business I received a call from a client. 

She was on her condo board and wanted me to take a look at their association’s policy.

She felt their annual premium was too high. 

I ran a policy comparison and was able to save the association over $9,000 annually with a new policy from my company. 

This difference in premium even surprised me. 

Their current premium was high because they had suffered several losses in the past. 

The current carrier was the only one their management company could find who would insure them at the time due to their loss history.

Understandable… 

Happy with my proposal, my client asked me to present it at the next condo board meeting. 

Present at the meeting, were the board members and the president of their management company whom they had been using for several years. 

I walked them through my proposal and their policy. 

I showed them their current gaps in coverage and the difference in premium. 

Needless to say, the board voted to move forward and change policies right there on the spot.

(Cool) 

As you can probably guess, this is when things got very uncomfortable for the property manager.

One of the board members asked me how many years were they over paying for insurance. 

(I knew what was coming) 

I told him a little over three years. 

All eyes turned to the property manager. 

(Here it comes) 

Then someone finally asked him, why didn’t he try to find them a better policy? 

He had three years..! 

(Ouch) 

He had no real answer for them. 

After the meeting I approached the property manager and apologized for what had happened.

It was not my intention to put him on the spot like that. 

He understood. 

To make it up to him I told him I would help him with his other condo associations to avoid this from happening with them. 

He declined my help, telling me all his other properties were fine. 

Okay, I tried… 

About two months after my policy was issued I received a call from the condo board president notifying me they have changed management companies. 

I asked him why. 

He told me the members on the board were not happy that they had overpaid for insurance for so long. 

He also said the property manager knew the building needed mantainence and they could have used the money. 

A HARD lesson for that management company to learn. 

This is when became more involved with property managers and building owners. 

I help them to control insurance cost and over service their clients.