SHOP your Insurance!

Insurance: Professional, General Liability, Workman’s Compensation, and Car Insurance.

For years I heard “You should “Shop your Insurance Policies” every few years for lower rates. I was greatly “Surprised & Excited” this year when shopping my insurance coverage that I saved over $2,800.00.

But this started with my wife wanting to comparing our car insurance rate and found we were able to save $60.00 per month ($720.00 per year) with Geico, then later we receive information from Geico about business insurance (which we shopped with several Independent Insurance Agencies), then finally with Geico, our General Liability Coverages were quoted 21% below the rate we were paying with “Nationwide Insurance”.

Then the next step was to shop the Workman’s Compensation (which most large insurance companies will only offer Worker’s Compensation on 4 to 5 employees, but was surprised when Geico would offer insurance on “one employee” or more, and again we were able to save 30% below our current policy……so we saved over $1,800.00 per year converting our policies to Geico. Previously, I had all my policies (business and personal) with Nationwide for years, but not anymore.

Professional Accountant’s Insurance: Since we found lower rates with Geico, we tried them for the Professional Accountant Insurance, however Geico did not offer the “Higher Rates” of coverage (we need to meet our IRS Requirements), so we shopped this policy through an Independent Agency in Tampa, was able to obtain the same coverage for ½ of what we had been paying for the last 5 years. This saving was over $1,000.00 for just this policy.

Between the changes in all policies we saved over $2,800.00 total. If you did this it

Shopping for your insurance can save you hundreds.

would be great start for your next vacation.

Reminder & Special Note (Very Important): Workman’s Compensation Insurance:

Workman’s Compensation Insurance is based on “Risk of Occupation”. For me (as an Office Accountant) was only $326.00 for the whole year ($27.17 per month)! If I was hurt they would cover all medical expenses and my whole salary of $48,000 a year.

Reminder: under the requirements of the ”State of Florida”, you can be “Self-Insured” up to 3 employees, but when you have 4 employees your business is required to have an “Approved Workman’s Compensation Policy”.

The words “Self-Insured”, means, should you have an employee with an injury, the business would be responsible to cover “All Medical Expenses and Total of all Loss Wages” for the length of period of the injury (which could be a “Life Time”)! Several of the payroll processing companies we work with offer Workman’s Comp Insurance (which can be billed monthly) with the payroll processing cost (instead of making a huge payments to begin the policy).