Advice to Minnesota Businesses Facing Insurance Rate Increases For 2013
For Minnesota business owners, the value of working with an independent insurance agent is more important this year than ever before. Recently, there have been many articles published about insurance companies who are being forced to increase their property insurance rates due to an unprecedented number of weather related catastrophes that have been occurring around the country. Also, executives at some carriers are attempting to improve the strength of their respective carrier’s balance sheets by implementing premium increases as a strategy to build up their financial positions. Unfortunately, Midwest business owners – including many Dyste Williams business clients – are not immune from experiencing negative impacts caused by the insurance industry’s financial woes and weather episodes elsewhere.
What makes the situation worse this year is that these premium increases are coming during an economic downturn when businesses are facing their own financial pressures. One helpful strategy for business owners is to have an independent insurance advisor and advocate who can address premium increases by shopping around and informing insurance carriers that the client is seeking competitive bids. The big benefit to business owners of working with Dyste Williams, an independent insurance agency as opposed to a captive or direct writer, is that we have access to multiple insurance carriers to offer our clients. We are not locked into one specific insurance company.
As an independent insurance agency, Dyste Williams helps evaluate cost and coverage for our business clients to ensure that their insurance programs are competitive in the marketplace. In addition to searching for the most competitive premiums, the experienced independent agents on our staff have access to many different insurance programs and coverage options.
Dyste Williams’ independent insurance advice even helps clients grow their business. For example, if you’re a Minnesota commercial building owner planning a renovation or other property enhancement, you might need to obtain special insurance. We can help make your expansion plans viable by finding affordable insurance products. As the Minnesota economy continues to improve going into 2013 – yes we are optimists – we are seeing more opportunities to help make sure that insurance costs do not thwart our clients’ expansion plans.
No business owner enjoys paying higher insurance premiums. However, Dyste Williams can mitigate costs by properly identifying required coverage for your organization and find potential areas of premium savings. If required, coverage can be rewritten with one of our other insurance carriers that is more affordable and appropriate for your goals and objectives. To discuss improving your business insurance coverage and costs, please contact Ted Dyste at 952-843-4420.