Insurance can certainly seem like a commodity if purchasing it is primarily price-focused.  If you’re not an active participate and insurance protection is more of an after-thought, it may not be getting the attention it deserves as a strategic tool to protect your bottom line.

Large corporations often devote thousands of dollars and dozens of staff to pay attention to risk management.  Even that team has to engage a broker they trust to fill in the voids and exposures in their risk management plan. As a small to mid-size business, you can emulate their dedication to risk management by hiring an agent who is willing to listen to you and who is truly interested in your business.

You are bombarded every day by ads from web-based and direct-writing insurance companies that will let you choose only the coverage you want? Heck, they’ll let a Massachusetts automobile owner select the minimum $5,000 worth of liability coverage without any questions. Really?!… $5,000 of coverage to pay for damaging someone else’s property.  Think about that.  You would be insuring against getting in an accident with a jalopy worth less than a good mountain bike. Run into your neighbor’s Toyota Corolla and you’ll be paying a big chunk of change out of pocket.

For less than the daily cost of your Grande, Latte, Mocha, Supremo Express with a double-shot of caffeine that you get on the way to work at your favorite coffee joint, you could better ensure you have a place to go to work should you be sued. Insurance has a price, which makes it seem a commodity, but insurance policies aren’t all the same. The most expensive insurance policy is one that doesn’t adequately cover you for the risks you face. Now that’s a high price.

If I were sitting across the table from you and all you wanted was the minimum protection and price, I’d probably tell you that I’m not the broker for you. Nothing good would come of that relationship. However, if you were really interested in engaging an agent, one who wants to help you protect your business and minimize the cost to do so, then we’d be a great fit.

So, be honest with yourself. How do you want to do business? Do you want to roll the dice and hope that nothing bad will happen to you and your business, or do you want to start treating insurance less like a commodity and more like the risk management tool that it is?  Take an active role in protecting what is important to keep your business viable. Being well-protected doesn’t necessarily cost more, especially when you consider the cost of being unprotected.

Read Other Blog Posts

Women talking

Understanding the Insurance Knowledge Gap Among Gen Z

Surveys reveals that many Gen Z adults feel overwhelmed by insurance and lack understanding of basic coverage terms, leading to gaps in their protection. However, by working with trusted insurance professionals, they can gain clarity and make informed decisions about essential coverage for their future.
Murphy’s Law Now Officially Sponsored by Murphy Insurance

Murphy’s Law: Now Officially Sponsored by Murphy Insurance

Murphy Insurance is now the official sponsor of Murphy’s Law—because if anything can go wrong, it probably already has. To mark the occasion, we’re rolling out a tongue-in-cheek lineup of “coverage” for life’s most ridiculous moments, from lost socks to seagull snack theft. While these faux policies are just for fun (for now), our real team is always here with real coverage for life’s unpredictable turns. Happy April Fools Day from Murphy Insurance—when Murphy’s Law strikes, call Murphy Insurance.
Auto Insurance in Hudson MA

Auto Insurance in Hudson, MA: What You Need to Know

If you live in Hudson, MA, or the surrounding areas, securing the right auto insurance is essential. Whether you’re a daily commuter, a weekend traveler, or a first-time driver, having the appropriate coverage ensures protection on the road and compliance with Massachusetts’ legal requirements.
Car close-up

What to Do After a Hit-and-Run

When you’re involved in a vehicle collision and the other driver takes off without exchanging insurance information, this is commonly referred to as a hit-and-run. Review the following guidance to understand what information to collect and who to contact following a hit-and-run incident.
Pest Prevention Keep Your Home Pest-Free with Proactive Measures

Pest Prevention | Keep Your Home Pest-Free with Proactive Measures

Pests can cause structural damage, contaminate food, and pose health risks, making proactive prevention essential since home insurance doesn’t cover pest-related damage. Key prevention tips include proper food storage, maintaining outdoor vegetation, regular home inspections, and keeping living spaces clean to minimize pest attraction. For persistent issues, professional pest control may be necessary, and Murphy Insurance is available to provide guidance on home protection and insurance coverage.
Stairs

How to Prevent Falls at Home

Falls are one of the most common and dangerous accidents that occur at home and on the job—especially on staircases. In order to determine whether there are fall hazards within your home, be sure to ask yourself these key questions.
Outdoor Maintenance: Protecting Your Home and Enhancing Your Curb Appeal

Outdoor Maintenance | Protecting Your Home and Enhancing Your Curb Appeal

Regular outdoor maintenance not only enhances your home's curb appeal but also prevents costly damage and potential insurance issues. Key tasks include cleaning gutters, inspecting the roof, maintaining landscaping, power washing exteriors, and ensuring outdoor structures like fences and decks are in good condition. Staying proactive with seasonal upkeep helps protect your home, reduce long-term repair costs, and maintain insurance coverage eligibility.
Co-workers with technology

Best Practices for Creating a Cybersecurity Culture

Employees are commonly targeted during cyberattacks, making them an organization’s first line of defense amid such incidents. For this reason, it’s important to make cybersecurity an integral part of company culture as a valued practice upheld by every member of the organization.
Hot Tub Safety 101 | Protect Your Home, Guests, and Peace of Mind

Hot Tub Safety 101 | Protect Your Home, Guests, and Peace of Mind

Hot tubs offer relaxation but come with safety and liability risks, including potential injuries, health concerns, and insurance coverage gaps. Key precautions include supervising children, maintaining proper water chemistry, setting safe temperature limits, and enforcing responsible usage to prevent accidents. Homeowners should review their insurance policies and consider additional coverage, such as a personal umbrella policy, to ensure financial protection while enjoying their hot tub safely.

Visit Our Personal Insurance Page

Personal Insurance

Life is an ever-changing journey, and it deserves a thoughtful, comprehensive plan to protect the things and people that matter most. Our dedicated team at Murphy Insurance is here to assist you in creating that plan. With a wide range of product options at our disposal, we ensure that your plan is tailored precisely to your requirements. Our commitment to providing clear, intelligent guidance to help you achieve true peace of mind. Learn more about our personal insurance portfolio.

Visit Our Business Insurance Page

Business Insurance

Murphy Insurance stands as your steadfast partner in safeguarding your business from unforeseen challenges in today’s dynamic business landscape. In an era where comprehensive business insurance is not just a prudent choice but a vital one for ensuring the long-term stability and security of your enterprise, we are here to offer our expertise. Running a business inherently entails various risks that can potentially impact your financial stability and reputation. Learn more about our comprehensive business insurance solutions, which are meticulously designed to protect you from these potential threats, granting you peace of mind necessary to focus on the growth and prosperity of your business.