Insider: How to Find the Right Insurance Broker for Your Hotel Company: Four important resources they should provide

By Richard Dahm, Jr., Senior Risk Consultant, Wells Fargo National Hospitality Division

Mr. Richard Dahm, Jr.

Purchasing business insurance in today’s economy has grown to be a large ticket item on businesses’ increasing budgets and diminishing bottom lines. As complicated as insurance coverage can be, the process of choosing a broker can make it even more difficult. With insurance rates drastically fluctuating, more businesses are reviewing their current policies and weighing all options--including whether to keep their current broker or look elsewhere. It is very easy for businesses to get lost in terminology and price comparisons when choosing a broker. Consequently, many end up questioning the value of their coverage for their premium dollar. In years past, package policies and mainstream markets provided more comprehensive coverage. Unfortunately this practice seems to be losing ground towards a much more line itemed cost.  In essence, even if we are seeing reductions in cost the reality is that we are spending much more for diluted coverage. 

Getting your money's worth does not stop with the insurance companies, but rather with whom you put your trust in, the broker. If you have any doubts, then your answer lies in changing your traditional review process and researching for the best broker available.  

Read more in the Hotel Business Review in my article, “How to Find the Right Insurance Broker for Your Hotel Company: Four important resources they should provide”. 

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Best Regards, 

Richard Dahm, Jr.

Senior Risk Consultant

Wells Fargo Insurance Services

727-796-6666

richard_dahm@wellsfargois.com