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NBIG Blog

Motor Vehicle Records

If you’ve purchased or renewed a Business Auto Policy in the past, you may be familiar with the acronym MVR, short for Motor Vehicle Record. What you might not be as familiar with is the reason they’re around and what a Motor Vehicle Report has to do with insurance in the first place. Let’s discuss.

How To Lower Work Comp Premium: Factors That Impact & Tips To Save Money

Prices are soaring across nearly every vertical in every industry and insurance is no exception. For the past year, or so, we have been in the throes of a “hard market”; meaning rates have increased, insurance companies have accepted fewer risks, and underwriting standards have become more strict. Bottom line, if you’re not a “squeaky clean” business with A+ safety and operating standards, you’re likely to be impacted by increasing rates and premiums. Hope is not all lost, though, as there are steps you can take to make your business a safer place to work and, in turn, make your Workers Compensation premiums fall. Let’s explore what factors into your premium and tips to help keep your policy affordable.

Conversations With Your Agent

s prospecting agents, we hear all too often the phrase, “I haven’t heard from my agent in years!”. Going even six months to a full year without touching base with your agent can and oftentimes will lead to coverage gaps in your insurance policy. Think of how your business grows and changes over the span of a year. Maybe you’ve added large and EXPENSIVE equipment to your operations? Maybe you’ve added or removed a product or service offering that changes your risk exposure? Any small or significant change to your business can impact your insurance policy, and if your agent doesn’t know about it… you might not be covered for it! Here are the top conversations you should be having with your agent AT LEAST once a year (though we love catching up more often than that!).

Interest Rates To Rise, How Will New Home Construction Fare?

The Federal Reserve’s decision to stymie the rise of inflation by increasing interest rates is going to shore up demand for new residential and commercial construction throughout 2022. With inflation hitting a 40-year high of 7.9% in April, the .25% increase (with more increases on the horizon) is sure to help push that figure down BUT will make it more expensive to borrow money across many sectors - including the housing market. When it’s difficult and expensive to borrow money, it’s typical that consumers will hold off on their bigger purchases (houses, cars, backyard utopias). How did we get here? What does it all mean? How will your business fare? Let’s try to unpack it all.

Cancellations and How To Avoid Them

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National Builders Insurance Group

729 Main Street
Rochester, IN 46975
(855) 777-6244

A Division of The Smith Sawyer Smith Agency

National Builders Insurance Group