Frequently Asked Questions

We know that sometimes it may seem as if you need a degree in rocket science to understand your insurance policy and/or what coverage you may need that you currently don’t have, which is why we are here to help.


Can I get a quote electronically or do I need to go to an office?

You do not need to go to an office but many Commercial quotes have to be reviewed before they can be presented. We do most of our business via email and phone communication, but we can set appointments if our customers prefer going into an office.


How quickly can I get a quote?

This depends on the type of insurance needed. Many quotes can be done within a few minutes but some require submission to an insurance company’s underwriter for review. Our goal is to get you a quote as quickly as possible, but more importantly we are always looking for the best deal, which includes all of the coverage you need at the best rate to fit your budget, even it takes a little longer. We will always be upfront and provide the estimated time it will take to get a quote.


Are payment plans available?

Most companies have payment plans available. We will always provide total premium and payment plan options with complete transparency.


How do I file a claim?

Preferred Insurance is a retail agency; therefore, we have no authority to review or settle claims, however we are here to help in any way we can. For claims contact information, you can refer to your policy portfolio, give us a call, or click here.


Whom do I contact regarding Certificates of Insurance and other questions regarding my policy?

At Preferred Insurance, customer service is very important to us and we are always here to answer any questions, concerns, or requests within a quick and timely manner.


What types of insurance do you offer?

Preferred Insurance is a Property and Casualty (P&C) insurance agency. Preferred Insurance is a full service insurance agency, which means that almost always (99.9% of the time), we have the ability to provide coverage for all of your business and/or personal insurance needs, regardless of industry type. We practice an open-door and transparent policy with our clients and encourage them to give us a call or send us an email. We would be happy to discuss any questions you may have.


What is a Premium Audit?Most CGL policies are auditable policies and contain a condition commonly called “Premium Audit.” The premium that is paid at the inception of the policy is a deposit (estimated) premium. Auditable policies usually use estimated payroll, sales, or units sold as the premium base to calculate the deposit (estimated) premium.

The insurer is entitled to examine your books and records to determine whether the actual payroll, sales, or units sold are greater or less than what was estimated. This is usually done after the expiration of the policy, but may also be done during the policy period. If the actual payroll, sales, or units sold is greater than was estimated, you may owe additional premium. If the actual payroll, sales or units sold is less than what was estimated, you may be due a return premium. Therefore, it is important to provide an estimate of the payroll, sales, or units to be sold that is as accurate as possible to avoid having to pay an additional premium.