Posted by: jmwilsonmga | July 31, 2012

Interview with an Expert : Market Segment Garage Insurance

Stacey Nelson, Garage Manager

To bring you more information on Market Segment Garage Service Insurance, I interviewed Stacey Nelson, J.M. Wilson’s Garage Manager.  Please share any questions you may have in the comments below!

Kristin : “What is Market Segment Garage Service?” 

Stacey :  “Market segments can be developed for targeting “niche” markets or classes of business, or for harder to place business that may not be eligible for full coverage under a garage policy.  For example, automobile service is one of the types of products that market segments can help with.  It can help tailor a policy to the specific needs of an insured, while not including any extra bells and whistles that may tack on additional premium and coverages they do not need.  These are traditionally written on standard commercial/ISO forms with specific buy-back endorsements for those coverages needed.  You can learn even more by visiting our Product Page.”

Kristin : “Who Needs Market Segment Garage Coverage?”

Stacey:  “Market segment coverage is perfect for start-up operations that may not need or be able to afford full coverage, or it can be for a niche or specialty class that requires tailored coverage to fit their needs.  In some instances, if an otherwise extremely clean risk has had substantial losses involving one aspect of their operation, a market segment company may be willing to write the loss free portion and exclude the other portion so that some coverage is still available to the insured.  For a list of sample classes, please click here.”

Kristin : “Is this product new to JM Wilson?”

Stacey :  “This is not so much a new product,  but is something we want our agents to know we have available for them and their clients.”

Kristin : “Any frequently asked questions about market segment garage coverage?”

Stacey :  “Most questions revolve around the difference between a market segment policy and a “true” garage policy, and it all boils down to the coverage forms.”

About The Interviewer : Kristin O’Leary, Project Coordinator

Kristin has been a proud member of the J.M. Wilson Marketing Team since 2005 and currently serves as the Project Coordinator.  She graduated from Western Michigan University with a Bachelor’s Degree in Marketing.  Outside of the office, she enjoys running, working with her family at their pet supply store, and spending time with her husband and their Miniature Schnauzer, Vinny.

Connect with Kristin on LinkedIn  Circle Kristin on Google+

Disclaimer :  This article is for informational purposes only.  There is no legal advice being suggested or proffered.  The author assumes no responsibility or liability for the actions taken or not taken by the readers based upon such information.  This article is the opinion of the author and is not supported or endorsed by J.M. Wilson.  It should not be relied upon and may contain inaccuracies or content may have changed over time, contact your underwriter for the most current and accurate information.  Any comments or responses are the opinions of their authors.  Content on this site is believed to be covered under Fair Use. Legal

Copyright 2012 J.M. Wilson Corporation

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