Let's Close More Sales!
 

We all need to write more business!  With fewer dealers and the survivors being much smaller, we all have been hurt on the income side of things. Competition is fierce and price is even more important than in the past. To compete we all have to get smarter! DO NOT let the competitor get away with skimping on coverage to get to his supposedly cheap price! Coverage is important, and we have found that dealers will listen if pinned down.  Getting a copy of the current policy, while it may be a bit difficult, is extremely valuable.  Some policies are on Disc and easy to obtain.

We all need to write more business! With fewer dealers and the survivors being much smaller, we all have been hurt on the income side of things. Competition is fierce and price is even more important

For example, after Harco found they could not underwrite new car dealers the same way they underwrite new heavy truck dealers they are with drawing from the new car dealer market and Federated Mutual is also trying to fill the vacuum created by the demise of American Hardware. We recently took a $270K account away from Federated, and on thorough review found they really had things screwed up and had acted in very bad faith in several instances.

        In theses instances, we use a driver restriction agreement which is not part of the policy, and if the restriction is breached, coverage still applies to all  named insured's.

• Federated had neglected to put a retro date on the EPLI policy which they said they would do, at inception, and when we called this to the attention of the insured prior to expiration, the insured requested the retro date be added as agreed upon, and FEDERATED FLATLY REFUSED. We included the retro date on our policy to fill the gap. 

• The insured has a building worth several million which is vacant, and Federated had made no provision for this. We took care of this in our proposal.

• At the inception date of the Federated Program, Federated was to have issued a dealer bond for the state which they failed to do, and amazingly enough, the DMV did not pick up on it until almost expiration.    The insured requested that Federated issue a backdated bond, prior to the time Federated  was  aware that they were losing the account, and Federated FLATLY REFUSED TO BACKDATE THE BOND TO THE PROPER DATE, and the DMV THREATENED SHUT DOWN in 24 HOURS.    We were able to get our Bonding Company to issue a Bond backdated to the proper date, and avoided the DMV shutdown.

• There were also other complaints from the insured about Federated's service and lack  thereof in the areas of claims, and loss control.