Thoughts from people that quote, file, and issue the policies.
Last updated: July 22, 2013 by TheEventHelper
The hypothetical views from the following professionals on a Special Event Insurance Policy.
- 4 hours on average to complete sale and process paper work.
- Minimal premium with a low commission averaging 10% of $300.00 = $30.00
- Hopes that endorsement on Home policy will be accepted, but knows that it won't be.
- This is the least profitable line of coverage this office sells insurance for.
Nonprofit Cultural Center
- Tenant often ignores requirement of insurance.
- Tenant scrambles to obtain insurance and often past the deadline.
- Tenants often frustrated with Cultural Center, because endorsement on Home policy is not accepted.
- Many certificates of insurance, from many different people, make familiarity difficult.
- Excellent loss history for this line of business.
- As a Company we should get more insurance brokers to sell event insurance.
- Why don't these insurance brokers sell more of these.
- The Cultural Center says they informed us of insurance requirements, but we never knew of that till the deadline.
- Broker should add this to our home policy.
- If home policy company doesn't decline to endorse, the Cultural Center will decline to accept the endorsement.
- They want to charge $300.00 for 2.5 hours of coverage.
- Our budget for the entire fundraiser was $300.00 without factoring insurance cost.
- If only there was an online Special Event Insurance product, that was half the price, a quarter of the work, and nobody trying to sell me other insurance that I don't need.
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