Step 9) Know When To Pull The Trigger

Ensure Ethical & Practical Behavior Of Both Parties When Negotiating Trucking Insurance Quotes

Negotiate in good faith. Do what you say you will. Give your agents a clear schedule for the process and stick with it.

For example, you may use an approach such as this:

1) We will communicate our decision regarding agent selection and provide the initial underwriting data 90 days in advance of our insurance expiration date;

2) we will assign insurance companies to the various agents within one week thereafter;

3) All quotes must be delivered 10 days prior to expiration date. A time frame such as this gives the insurance pros ample time to do their work and allows you time to make a solid choice between them. When it gets down to the wire and you are ready to pull the trigger, make good use the competitive process. But be a straight shooter. If you tell someone, “Do ‘this’ and we have deal.” Be good for your word. The agents will work hard to accomplish a clear goal you set out, or pretty much die trying.

If your goal is unattainable, they will know that pretty quickly and bow out gracefully. But if they get you to your goal, give them the deal. It’s both ethical and practical. Ethical, because that’s what you said you’d do so you’re sticking to your word and earning a reputation as a straight shooter. Practical because agents know when they’re being treated unfairly. We’ve all seen it enough to know that in business, “what goes around comes around.” And on that note, insurance buyers are advised not to tolerate unethical treatment by insurance agents. An unscrupulous agent can be a very expensive aggravation for the motor carrier. We are all better off if instances of unethical conduct are dealt with properly. This could include complaints to the agents’ boss if he is an employee of an agency; complaints to the insurance company the agent represents and/or formal complaints to the state department of Insurance.

We always advise a very direct conversation with the agent to discern if the suspicious conduct was inadvertent or simply a good faith screw up. But if you get an unsatisfactory response, lodging a formal complaint is a good move.

p.: 419-475-5151 • fax: 419-475-8750 • 3912 Sunforest Court, PO Box 8730, Toledo, OH 43623

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The information contained in this website is offered only to provide the reader with a general understanding of the subject matter. Nothing contained herein should be regarded as legal advice or as a warranty of veracity or averment of any fact. Whether such information is drawn from a simple glossary of terms, or enumeration of definitions for industry jargon or else wise, it is published only for general information and should not be regarded as legally binding. No language contained herein is part of any contract or policy of insurance and is only given publicly to allow for a conceptual understanding of commonly used terms.

Roemer Insurance has been a leading force in commercial truck and fleet underwriting for decades. Roemer Insurance pioneered trucking insurance packages and offers a full menu of coverage, including liability, physical damage, motor truck cargo, commercial auto liability, and Workers' Compensation.With 80-plus years insuring America’s truckers, Roemer Insurance continues its legacy of innovation, delivering new, higher levels of service and value to trucking fleets and drivers through the insurance products and risk management services delivered daily by the Roemer Family of Brands.