Are you incorporating umbrella coverage into your routine interaction with customers?

A few months ago, we shared heartfelt thanks for making the last year so successful with selling umbrella policies! We know the value it brings to our customers, as well as you, our agency partners. We also know the challenges that come with upselling this coverage.

In today’s world of smartphones, social media, and distracted driving there is no shortage of relatable, daily interactions that could result in a liability loss. To help facilitate the sale, leverage these tools:

• Personal Umbrella Flyer>>
• Umbrella - Best Practices & Quick Quote Job Aid>>
• Umbrella Declination Form>>
• Automated umbrella quotes – saving you time and making quoting easy!
  • Beginning on November 18, all states will have automatically generated umbrella quotes for all package policies in WesCom.

Once you have an umbrella customer on the books, it’s important to touch base annually to make sure their exposures haven’t changed. Please note an update to our umbrella renewal process:

• Effective 11/17/2019, we will be discontinuing the practice of sending umbrella questionnaires. This will begin with March renewals (IL and KY April renewals). You may receive some questionnaires on upcoming renewals due to the timing of the renewal cycle. You are not required to return these questionnaires.
• Minimize Coverage Gaps with Annual Review
  • While we will no longer ask that a questionnaire be completed, we highly encourage you to review your client’s exposures to minimize the chances for coverage gaps. Some examples could include:
    • Underlying policies have lower limits than required, putting the insured in the position to pay the amount of the loss that exceeds the underlying coverage, up to the amount of underlying coverage required ($500,000) by the umbrella.
    • Lack of coverage for owned exposures not listed on policy including watercraft, recreational vehicles, and rental dwellings.
    • Underlying limits for non-Westfield policies. There are times when a policy is not insured with Westfield, such as the liability for seasonal or secondary homes, recreational vehicles, watercraft or rental properties (up through 8 rental units). It remains very important that you provide us with the underlying policy information.

If you would like a list of your current Westfield customers without an umbrella, contact your underwriter who can provide you with a list that even identifies which customers are most likely to purchase one!