Step 4) Have A Renewal Strategy
Renewal vs Expiration. Staying Put or Changing Trucking Insurance Agent / Carrier
Keep in mind the process of buying insurance is not always the same from year to year. If you believe you will be changing agents and or insurance companies the process dictates different strategies to get your best outcome. If you are not dissatisfied with your agent and your insurance carrier has been treating you fairly, there is nothing wrong with planning to stay put.
If in your mind you are likely to renew with your incumbent then be sure to be efficient in your insurance buying process. This does not mean that you should not bring in competitors to shop the program, but do keep in mind it actually is possible to "over shop" your insurance program. This can have a real downside. It sounds counterintuitive but shopping your insurance program too aggressively can cost you in the long run.
You do not want to spin the wheels of your agent and insurance carriers unnecessarily because eventually they may grow weary of the process. It’s just human nature, if they believe that they are never going to win your business they may be unlikely to provide the most competitive quote possible because they do not regard you as a serious prospective client. Or worse, they might become unwilling to quote at all down the road when you might really need them.