Trucking/towing

[NCAgent828]

seems like we all have this going on right now.

I have quoted a large account. Few hundred thousand dollar one. Original had about 20 trucks. 10 for each risk in SC. Client has said he will either get coverage or shut down the business. Now I’m afraid he’s shopping. He requested the loss runs I ordered for him and had been brushing me off. His last policy was non pay cancelled end of August.

Point of the post is, he tried removing trucks from the quote after I quoted him. Carrier will not remove without bill of sale. If he shops this and only tells them about half his trucks, will they find out he has more?

 

[myfakename]

seems like we all have this going on right now.

I have quoted a large account. Few hundred thousand dollar one. Original had about 20 trucks. 10 for each risk in SC. Client has said he will either get coverage or shut down the business. Now I’m afraid he’s shopping. He requested the loss runs I ordered for him and had been brushing me off. His last policy was non pay cancelled end of August.

Point of the post is, he tried removing trucks from the quote after I quoted him. Carrier will not remove without bill of sale. If he shops this and only tells them about half his trucks, will they find out he has more?

Been w/o coverage for 2+ months, playing games? Other than the commission that doesnt sound like a great insured.

 

[NC Fiduciary]

Definitely sounds like a headache of an account. Kinda like chasing premiums on contractors. If he shops it, they won't find out about them until there is an issue, claim, etc. This happens more often than you would think. Insureds that play games like that are typically best avoided, though the premiums make them hard to "ignore". If he moves the account and then has an inevitable issue with his new carrier down the road, he'll likely come crawling back when they drop him.

 

[NCAgent828]

Definitely sounds like a headache of an account. Kinda like chasing premiums on contractors. If he shops it, they won't find out about them until there is an issue, claim, etc. This happens more often than you would think. Insureds that play games like that are typically best avoided, though the premiums make them hard to "ignore". If he moves the account and then has an inevitable issue with his new carrier down the road, he'll likely come crawling back when they drop him.

That’s discouraging and encouraging at the same time! Ha. The truth is rarely easy to hear. I am betting that he won’t find another carrier besides Nico that I quoted. If he does, so be it. Honestly, this being completely over would help me not worry so much about it. On the flipside, if I write the business out constantly worry about a chargeback. I’m guessing this is life as an agent? LOL

 

[NC Fiduciary]

This is definitely more common in certain industries I've found. I stopped writing contractors for this reason. Well, not that I won't write them....I just don't look for their business. When I first started out, I wrote a lot of contractors and it was a huge headache. 18 wheelers/long haul trucking is another avenue that gives headaches as well. We needed one CSR to almost exclusively service one of our trucking accounts because they required so much.

 

[VolAgent]

Anyone who has been without coverage for 2 months and is "shopping" is someone best avoided. If you can, put a fat agency fee on it to compensate for your time and inevitable headaches.

Also, be extremely careful in accepting payment from him and the paying the policy via agency bill.

 

[NCAgent828]

Anyone who has been without coverage for 2 months and is "shopping" is someone best avoided. If you can, put a fat agency fee on it to compensate for your time and inevitable headaches.
This will be with a finance company for sure if it is placed. Can’t charge fees in SC.
Also, be extremely careful in accepting payment from him and the paying the policy via agency bill.

 

[NCAgent828]

Finance company for sure!

 

[VolAgent]

Finance company for sure!

Even then, you typically are collecting the down payment. While rare, some people will bounce that check. Certified funds, cashier's check, cash, etc. No cards as those can be disputed.

 

[NCAgent828]

I use epaypolicy and will either take a check or bank account info. Before binding coverage will make sure down payment is processed to ensure no issues.

Does that sound like a good plan? How would you avoid issues?