New Orleans Motel Insurance — New Program & Low Rates
A new program from an A+ rated insurance carrier is available for Hotel/Motel owners in Louisiana offering rate reductions up to 40%!
Call Jeff Davis Insurance by dialing 337-824-4455 until 4:30 PM Monday through Friday (Central Standard Time) to learn more about this program that is now available throughout the state of Louisiana.
Or send us a request for information on this new program by clicking the links below:
- Motel Insurance Terrebonne Parish
- Baton Rouge Motel Insurance
- Insurance for Motels New Orleans
- Shreveport Louisiana Hotel Insurance
- Hotel Insurance Lafayette La
- Motel Insurance Louisiana – All Areas Not Listed
New Orleans Motel Insurance — Review Your Coverage and Needs Carefully!
A great rate on Hotel Insurance in New Orleans is of no value to you after a claim occurs and you discover you did not buy the right type of coverage.
So it’s important to review your needs and to have a good understanding of what your policy covers or doesn’t cover.
For instance it would be a mistake to assume your policy covers every type of claim event. It would also be a mistake to assume that every insurance company covers claims exactly the same as all other carriers.
How can that be?
A business insurance policy may contain a variety of different endorsements and options that can vary from company to company.
In addition some companies may require you to carry a coinsurance.
What is a coinsurance? We will consider the answer to that question by looking at part two of our claims scenario that we posted previously.
New Orleans Motel Insurance — Claims Scenario Number One Part 2.
Emeric Babin owns BestBuy Motels a chain of 30 non-franchised business hotels throughout the state. Emeric’s Hotels are well maintained with many positive reviews on travel websites.
Emeric’s operations manager Nick Spencer is in charge of their commercial insurance and upon occasion requests bids on his business to make sure BestBuy Motels is not paying too much for their business insurance.
Nick calls Johnny Blanchard of the Johnny-Come Lately Agency in Baton Rouge who provides quotes for BestBuy’s 30 Motels.
Nick wants Johnny to match all the coverage limits on their existing policy, and Johnny promises that he would do just that.
Johnny submits his bid to Nick Spencer and over the space of 10 days Nick has reviewed all quotes from insurance agents who had submitted bids and Johnny’s quotes are the best.
There was only one question Nick had for Johnny so he called him on a Tuesday afternoon around 3 o’clock.
“Johnny it’s Nick Spencer over at BestBuy Motels, do you have a second for a question?”
“Sure” Johnny replies.
“Your quotes are coming in really nicely in fact they are about 30% lower than what we’re currently paying right now so if everything else turns out to be equal I think we are going to choose you as our new insurance professional, but before we do that I had a question about coinsurance.
“Your quotes contain something called a 90% coinsurance and our current policy shows N/A on the coinsurance, can you tell you what the difference is on that coinsurance?”
“Sure I’d be glad to Nick.” Johnny confidently replies.
Johnny in reality has no idea what a coinsurance means, but he does know that he’s going to make a $40,000 commission selling insurance to BestBuy Motels so Johnny makes up a story about what he thinks coinsurance means.
Because Johnny is a master salesperson he convinces Nick that the coinsurance is not something to really worry about.
In reality Johnny provided incorrect information to Nick about coinsurance. He was thinking of all the ways he was going to spend that $40,000 commission check.
Nick was so impressed with Johnny he accepted his explanation about the coinsurance and we will see how that trust quickly turned into a large loss for BestBuy Motels in our next article.
New Orleans Motel Insurance — Call Jeff Davis Insurance Today!
When you’re shopping for Motel insurance in New Orleans a great number to call is 337-824-4455 as a new program is now available for Motel and Hotel Owners in Louisiana that may save you up to 40% of the total cost of your business insurance (not all will qualify).
For your convenience you can also send us your request for information online by clicking the links below for your specific area: