You may have received a letter in the mail titled “Non Renewal Notice” or “conditional Non-renewal notice” from your carrier informing you that your insurance carrier will no longer be offering coverage for your “class of business” or “no longer insuring auto dealerships in this state”? This year 3 of the better known insurance companies that claim to “specialize” in independent and franchised auto dealers have begun to “exit the marketplace” or “exit” complete States in an effort to control losses. Zurich (better remembered as Universal Underwriters Group) is pulling out of 20 + states, Sentry Insurance is pulling back and dissolving it’s “auto dealer” department and rolling the representatives that it decides to keep (after massive layoffs) into it’s “standard Business” practice. Ally financial is doing much the same, although Ally has relied heavily on a smaller, not well positioned carrier by the name of Harco to service its property and casualty needs (probably doomed from the jump due to lack of control from Ally management).
What does this mean to you? Well, if are ok begging a local agent with little to no experience to try to find you coverage you can go that route. Maybe you are fine with your Sentry rep suddenly having to be a “jack of all trades” and handle your dealership while juggling light manufacturing risks, widget distributors, etc. or maybe you are fine waiting for Ally Financial to hire you a newbie agent to handle your account?
If not…we can help…. All three of those companies mentioned have a SINGLE insurance option available for you ! If you utilize a 3rd party risk management firm like ours, in which we have no less then 4 carriers in each state (and many more in others) We can and WILL deliver you options for your renewal. Do not wait until your renewal to start the process…call our office today!