www.SpotLoan.com Promo Code

www.SpotLoan.com Promo Code

Getting a bank loan is not much different than getting an insurance policy. There is an underwriting process that takes place for both transactions. Most people are very careful when trying to get a loan to make sure they have everything in order and complete for their submission. Unfortunately, when it comes to procuring an insurance policy most people approach that transaction in a haphazard manner. Using the same careful and complete presentation that you would use when you submit your documents to the bank in trying to secure a loan is almost the exact same process you should use when trying to get insurance proposals for your small business.

The three C's of banking, character, credit, and cash are also applicable in the insurance underwriting process.

Your character can be manifested in many areas throughout the insurance underwriting process. If your company has a frequency and/or severity problem with regards to claims, losses, and lawsuits, that will affect an underwriter's view of your character in the underwriting process. If your company has high employee turnover and/or poor employee morale this will also have a negative impact in the underwriting process and thus will have a negative impact on the pricing of your policies.