Insurance Awareness Day 2024

When it comes to?purchasing insurance, 70% of small business owners rely on agents or brokers for their?expertise (1). You provide unmatched knowledge, tailored?advice, and an understanding of the nuances of policies.?We’re here to help!?

Navigating Rising Property Replacement Costs?

From 2018 to 2022, property replacement costs have surged by 30% (2). This significant rise underscores the need for up-to-date insurance coverage that accurately reflects current values.?It is important that your commercial property insurance clients report updated and accurate valuations of their commercial property to minimize potential financial losses due to underinsurance.

Ensuring Comprehensive Commercial Auto Coverage?

In today’s environment, vehicle values are changing quickly. It is important to have proper valuations on all power units and trailers BHHC insures for physical damage coverage.?BHHC operates on a stated amount basis, which is why reporting updates is so important to?accurate insurance coverage.??

Management Policies with BHHC?

Understanding and managing your?clients’?policies is the #1 way to protect?their commercial assets. At BHHC, we offer tools to help you stay on top of your clients’ insurance needs because our platform allows you to manage policies accurately, minimizing vulnerabilities.?

Reminders:

• Professional Expertise:?Your Marketing Rep is going to be your best contact for all things BHHC.?
• Protective Coverage: Protect your clients’?properties and autos by binding with BHHC.
• Proactive Policy Management: Regularly review and update your insureds’ policies.??

Sources:

1. 75% of small businesses are underinsured, says Hiscox Survey. (2023, October 10). Insurance Journal. https://www.insurancejournal.com/news/national/2023/10/11/743586.htm

2. Inflation and insurance replacement Costs | International Insurance Society. (2023, November 9). https://www.internationalinsurance.org/insights_economics_inflation_and_insurance_replacement_costs