2011 looks to be another challenging year for the mortgage banking industry. So, what does a mortgage firm need to do to keep expenses down? For starters, you can take a hard look at your insurance expenses. Here are 3 questions to ask yourself as you look ahead.
1. Can we reduce our insurance premiums without giving up the coverage we need?
There’s really only one way to find out. We will obtain quotes on your behalf from qualified carriers. If you’re like most companies, your renewal rates might already have gone down from last year, (especially if your loan origination volume has decreased). Can you save even more and still have effective coverage? Let us help you investigate your options. With the soft insurance market driving down premiums, it’s certainly a good time to have us compare quotes for you.
2. Does our insurance cover an insured loss?
While cutting insurance expenses may be good for the bottom line, keep in mind the goal of insurance is to cover the cost of an insured loss. So, it’s imperative your limits are high enough and coverage is broad enough to protect your company and its activities. Let us help. We can review your current policy(ies) and your business to help you determine if you have any coverage gaps.
3. How much time will it take to answer the first two questions?
Very little. We can review your coverages, coordinate and negotiate with carriers and provide coverage comparisons along with quotes. To get started, just give us a call and we’ll take care of the rest. Our goal is to handle the heavy lifting, so you can concentrate on your business. But, don’t just take our word for it. Take a look at what other companies have said about working with us.