You’re shopping for new insurance. Your nonprofit has grown, and you know you need better coverage. You hop online, do a few Google searches, and quickly realize – you’re in over your head. The terms are confusing. You don’t know what limits you need.

You want coverage in case of a loss, but how do you know where to start?

Here are a few steps to get you on the right path.

1. Learn the basics

Buying insurance products is incredibly overwhelming when you don’t understand what you’re buying. Take some time and learn the basic terminology. You don’t need to know everything, but a base understanding will help you feel more confident as you move forward. Looking for a place to start? Check out our YouTube channel for helpful videos. If you still need clarification, write down your questions to ask a professional before you make any decisions.

2. Get an agent you can trust

Choosing an agent may be your most important decision. The right agent will make your life easier. They will know where to find the necessary products and how to get them. The wrong agent will make you do all the work, tell you how hard it is to find what you need, and complicate the process.
That said, selecting a professional, whether a doctor, lawyer, accountant, or insurance agent, is intimidating.

young woman sitting at laptop and looking at the camera


Here are some questions you can ask an insurance advisor to validate whether they’re the right person for you:

  1. What is your level of experience?
  2. How many organizations like mine do you serve?
  3. What is your process for approaching the marketplace?
  4. In your experience, who are the best carriers for a business like mine?
  5. What is your process for evaluating my needs?
  6. What will your renewal process look like for my account?

Listen for a person who has a plan of attack. If they sound like they know the process from beginning to end, they’ll take good care of you.

3. Trust your agent to get you a good deal

I know you want the best coverage for the best price. The truth is that there is no way to guarantee you’re getting the absolute best deal at all times. No company is the best in all situations. No broker has access to all the different companies in the world.

There is always a chance you will leave some dollars on the table. However, if you’re getting a product that fits your budget and have a broker that provides high-quality care and is transparent with you, does it really matter?

Here is a healthier way to address this concerndoes my broker have enough expertise and access to the key insurance companies that serve my marketplace to give me an accurate representation of what is available to my business? If your broker represents 8 out of the 10 major companies and has talked to those companies in the last 3-5 years, you likely are getting a good deal.

three red apples

One more word of advice: Quoting rotten apples to rotten apples will only get you a bag of rotten apples. Resist the urge to hand the new agent your previous program and ask for a line-by-line replica. When you research and find a knowledgeable agent, you should be able to trust them to create a plan for you.

By relying on a professional, you can ensure a comprehensive program that meets your current needs, not just a copy of your old plan.

If you’re looking for an insurance agent who can simplify this process, please don’t hesitate to contact us.


Further Reading