• 423-362-4166

I’m Shopping our Insurance

Why the effort to create competition creates less competition.

Cash flow is the lifeblood of every business. While insurance is not something to skimp on, it is also something that needs to be cost-effective. Put another way, business owners and executives want to know their costs are competitive within the industry. So, what is the easiest way to be sure the prices are competitive? Shop the insurance! Wrong. Often, shopping insurance constricts competition.

The industry terminology for this type of decreased competition is known as “locked out.” Because agencies have access to many of the same insurance carriers, one agency can lock the other agencies out; thus, only one agency can quote with a given carrier. Some folks also call it moating; the incumbent agent digs a moat around the client so no other agents can approach the client with competitive offers.

What, then, is the best way of finding competitive insurance? Find an independent agent you trust. This independent agent should have access to many markets, allowing him or her to generate all the competition necessary to keep your premiums in line with your industry. The adage of “Your insurance is only as good as your agent” reigns remarkably true here.

[gravityform id=10 title=false description=false ajax=true]
<div class='gf_browser_unknown gform_wrapper' id='gform_wrapper_10' ><div id='gf_10' class='gform_anchor' tabindex='-1'></div><form method='post' enctype='multipart/form-data' target='gform_ajax_frame_10' id='gform_10' action='/im-shopping-our-insurance#gf_10'> <div class='gform_body'><ul id='gform_fields_10' class='gform_fields left_label form_sublabel_below description_below'><li id='field_10_3' class='gfield gf_left_half gfield_contains_required field_sublabel_below field_description_below gfield_visibility_visible' ><label class='gfield_label' for='input_10_3' >Full Name<span class='gfield_required'>*</span></label><div class='ginput_container ginput_container_text'><input name='input_3' id='input_10_3' type='text' value='' class='large' placeholder='Your Name' aria-required="true" aria-invalid="false" /></div></li><li id='field_10_2' class='gfield gf_half_right gfield_contains_required field_sublabel_below field_description_below gfield_visibility_visible' ><label class='gfield_label' for='input_10_2' >Email<span class='gfield_required'>*</span></label><div class='ginput_container ginput_container_email'> <input name='input_2' id='input_10_2' type='text' value='' class='large' placeholder='Your Email Address' aria-required="true" aria-invalid="false" /> </div></li><li id='field_10_5' class='gfield gfield_contains_required field_sublabel_below field_description_below gfield_visibility_visible' ><label class='gfield_label' for='input_10_5' >Message<span class='gfield_required'>*</span></label><div class='ginput_container ginput_container_textarea'><textarea name='input_5' id='input_10_5' class='textarea small' placeholder='Please leave us a message.' aria-required="true" aria-invalid="false" rows='10' cols='50'></textarea></div></li> </ul></div> <div class='gform_footer left_label'> <input type='submit' id='gform_submit_button_10' class='gform_button button' value='SEND' onclick='if(window["gf_submitting_10"]){return false;} window["gf_submitting_10"]=true; ' onkeypress='if( event.keyCode == 13 ){ if(window["gf_submitting_10"]){return false;} window["gf_submitting_10"]=true; jQuery("#gform_10").trigger("submit",[true]); }' /> <input type='hidden' name='gform_ajax' value='form_id=10&amp;title=&amp;description=&amp;tabindex=0' /> <input type='hidden' class='gform_hidden' name='is_submit_10' value='1' /> <input type='hidden' class='gform_hidden' name='gform_submit' value='10' /> <input type='hidden' class='gform_hidden' name='gform_unique_id' value='' /> <input type='hidden' class='gform_hidden' name='state_10' value='WyJbXSIsIjA3ZTJiOTc1OGM3OTYyY2RlYmQ0MWI1YTA5NTQxMWRjIl0=' /> <input type='hidden' class='gform_hidden' name='gform_target_page_number_10' id='gform_target_page_number_10' value='0' /> <input type='hidden' class='gform_hidden' name='gform_source_page_number_10' id='gform_source_page_number_10' value='1' /> <input type='hidden' name='gform_field_values' value='' /> </div> </form> </div> <iframe style='display:none;width:0px;height:0px;' src='about:blank' name='gform_ajax_frame_10' id='gform_ajax_frame_10'>This iframe contains the logic required to handle Ajax powered Gravity Forms.</iframe> <script type='text/javascript'>jQuery(document).ready(function($){gformInitSpinner( 10, 'https://www.theamericaninsurancegroup.com/wp-content/plugins/gravityforms/images/spinner.gif' );jQuery('#gform_ajax_frame_10').on('load',function(){var contents = jQuery(this).contents().find('*').html();var is_postback = contents.indexOf('GF_AJAX_POSTBACK') >= 0;if(!is_postback){return;}var form_content = jQuery(this).contents().find('#gform_wrapper_10');var is_confirmation = jQuery(this).contents().find('#gform_confirmation_wrapper_10').length > 0;var is_redirect = contents.indexOf('gformRedirect(){') >= 0;var is_form = form_content.length > 0 && ! is_redirect && ! is_confirmation;var mt = parseInt(jQuery('html').css('margin-top'), 10) + parseInt(jQuery('body').css('margin-top'), 10) + 100;if(is_form){jQuery('#gform_wrapper_10').html(form_content.html());if(form_content.hasClass('gform_validation_error')){jQuery('#gform_wrapper_10').addClass('gform_validation_error');} else {jQuery('#gform_wrapper_10').removeClass('gform_validation_error');}setTimeout( function() { /* delay the scroll by 50 milliseconds to fix a bug in chrome */ jQuery(document).scrollTop(jQuery('#gform_wrapper_10').offset().top - mt); }, 50 );if(window['gformInitDatepicker']) {gformInitDatepicker();}if(window['gformInitPriceFields']) {gformInitPriceFields();}var current_page = jQuery('#gform_source_page_number_10').val();gformInitSpinner( 10, 'https://www.theamericaninsurancegroup.com/wp-content/plugins/gravityforms/images/spinner.gif' );jQuery(document).trigger('gform_page_loaded', [10, current_page]);window['gf_submitting_10'] = false;}else if(!is_redirect){var confirmation_content = jQuery(this).contents().find('.GF_AJAX_POSTBACK').html();if(!confirmation_content){confirmation_content = contents;}setTimeout(function(){jQuery('#gform_wrapper_10').replaceWith(confirmation_content);jQuery(document).scrollTop(jQuery('#gf_10').offset().top - mt);jQuery(document).trigger('gform_confirmation_loaded', [10]);window['gf_submitting_10'] = false;}, 50);}else{jQuery('#gform_10').append(contents);if(window['gformRedirect']) {gformRedirect();}}jQuery(document).trigger('gform_post_render', [10, current_page]);} );} );</script><script type='text/javascript'> jQuery(document).bind('gform_post_render', function(event, formId, currentPage){if(formId == 10) {if(typeof Placeholders != 'undefined'){ Placeholders.enable(); }} } );jQuery(document).bind('gform_post_conditional_logic', function(event, formId, fields, isInit){} );</script><script type='text/javascript'> jQuery(document).ready(function(){jQuery(document).trigger('gform_post_render', [10, 1]) } ); </script>