Insurance Red Flags to Watch Out For

Insurance Red Flags to Watch Out For

Insurance Red Flags to Watch Out For

Everyone has had that moment where you find yourself in a less-than-ideal situation and wonder how you could have missed all the bright red flags along the way.

Some you can shrug off, but others are harder to forget because the fallout is so painful. Big uncovered insurance claims fall into that category. Not only can they be expensive, but they can literally sink your business. 

Let’s review some red flags that your insurance needs some attention. 

  • It feels like your insurance provider got stuck in the 70s or 80s. Really, no cool tech?
  • You have no idea what coverage you have – and it feels difficult to figure out.
  • Somebody is telling you that ‘everything’ is covered.  That is 100% not true.
  • Policies are spread out among several providers. Greater chance for confusion.
  • Your agent/agency/company is radio silent. No regular & comprehensive reviews.
  • Service on your policies is sub-par, frustrating. How else are they failing you?
  • Premiums just creep higher and higher. Like with cable, not shopping can cost you.
  • No insurance expert watching out for you. Business insurance is complicated. Get help!
  • You have an agent that is smiley but not that useful. Smiles do not equal competence.
  • Cyber liability? What’s that? Nobody is keeping you up on modern-day risks.
  • Employment practices liability? What’s that? And not even age-old risks.
  • You are left alone to sort through all of this stuff – aggravating, risky, and unnecessary!

Here’s the thing. When red flags are waving, we usually see them and know what they mean. Our failure is in not doing something about them.  

So, if you’re seeing these insurance-related red flags, what should you do? It’s simple, find better help. You can’t do it all!  Here’s what good help looks like.

  • Takes the time to understand your business and your life circumstances.
  • Helps identify and communicate to you the financial risks in your business and life.
  • Offers appropriate and competitively priced solutions in-house or outside referrals.
  • Works to uncover gaps in coverage you may be unaware of (and offer solutions).
  • Helps prioritize your insurance dollar. Don’t waste money. Spend it on what’s important.
  • Stays on top of changes in your business and your life to ensure proper coverage.
  • Makes ongoing policy services as easy as possible. Keeps it easy and pleasant!  
  • Leverages all the best tech available in today’s world to make life easier.

What you don’t want are insurance providers that are 100% order-takers. That leaves you having to figure out everything on your own. That’s okay when you’re buying groceries, a car, or even some of the more simple insurance policies. The reality is you’re buying complicated legal contracts to protect what is probably your most valuable asset: your business. Besides, good help is sometimes given for free if you know where to get it— just make sure it’s from a source you trust.

If you’re ready to explore your options, you could start your search with Mylo. They provide insurance in all 50 states, and work with most business types.

Benefits you’ll enjoy by connecting with them:

  • Best of both worlds. Industry-leading tech plus licensed experts to find you the best value.
  • Shopping made easy. Mylo offers many programs, and policies. 
  • Comprehensive help. One-stop shop for any business owner of any type of business.
  • Safe and secure. Easy consultation that respects your time, energy, and data.
  • Top-notch service. Mylo never stops working to make everything as easy as possible.

Be sure to ask them about any special programs in your specific industry. They have many unique products that are very difficult to beat in terms of value.   

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