Have You Thought About Bundling Your Insurance?

Remember the good old days when you could find a single insurance company to insure your entire business? That insurance company would cover your general liability, workers comp, property, business auto, and umbrella all one package. It was convenient because you had one bill, one effective date, and you didn’t receive constant emails and letters from them every week. Not only that, and most importantly, the insurance company gave you a discount for bundling your insurance with them! Wow! Those were the days.

The ability to bundle insurance has decreased significantly over the last 10-15 years. It’s been a slow process, but in today’s market, it is nearly impossible to find a single insurance company to insure more than one policy at a time, let alone do it at a competitive price.

Today’s policyholder will now most likely have a separate insurance company for each coverage they need. One for workers comp. Another for general liability. Another for property. Another for auto, and so on. The market has changed.

We crave the simplicity we used to have. We want to go back to the good old days when we could conduct our business without constantly having to think about our insurance; which insurance company to pay and when. Is this one on autopay? Is it pay-in-full? Does this agent handle our health or our workers comp? Didn’t we just have a final audit?

It’s hard not to be nostalgic. Not just about insurance, but about most things. We also want our milk shakes to be made with real ice cream and we want to go to the theater and watch a good movie too…. Something original, not some sloppy half-baked remake of a beloved classic.

Unfortunately, I can’t help you with the milk shakes or movies.

But, what if I told you that there are still opportunities to bundle your insurance today? This is a different kind of bundle though. Today’s bundling covers your workforce. Today’s bundle covers the policies and procedures that surround your people.

How is this accomplished? Through a PEO, which I prefer to call a “Single Vendor Solution.”

Rather than dealing with eight different vendors, you can bundle your:

1. Payroll
2. Workers Comp
3. Group Health and Benefits
4. Retirement Plan Administration
5. Loss Control and Workplace Safety
6. Human Resources Administration (hiring, onboarding, handbooks, manuals, etc.)

The best part about this Single Vendor Solution is it comes with a team. With a PEO, you get dedicated experts to help you with all your important HR tasks: new hire paperwork, employee manuals, advice, consultation, and more.

Yes, you will save a lot of time and a lot of money, but even more important and exciting are the opportunities you can now take on. New product offerings, advancing into new markets – maybe even international markets! (You can do that with a PEO)

I can’t promise the old insurance bundle will ever come back. But I can promise that you can simplify your business administration and reclaim your edge with a Single Vendor Solution. Or you can remain overwhelmed and try and do it all yourself, working those weekends just to stay even…. What will it be?

To investigate this new type of insurance bundling, our process is simple:

1. Set an appointment. Just click HERE
2. Have a conversation. We’ll learn about you and your business, gathering all the information our providers need to offer a quote.
3. We’ll present your plan. Once we’ve received your custom offer, we’ll reach out to you and schedule a time to discuss and review potential solution.

 

What are you waiting for? Give it a try!
Request a Quote