Restaurant
The Client
A fine dining, family-owned restaurant established over 20 years ago.
The Challenge
The client was frustrated with paying a high cost of insurance because they were open until 1 a.m. – past the qualifying closing time for most preferred insurance policies.
The Solution
LH&W’s three-decade relationship with an A-rated insurance company enabled us to negotiate a move for the restaurant into a preferred insurance program not previously offered to them. The move saved them over $27,000 on their annual insurance costs.
Contractor
The Client
A home remodeler who had seen their insurance costs steadily raise in the past few years due to their quick growth and resulting payroll increase.
The Challenge
Identifying an insurance program that would minimize increases in insurance cost despite their growth rate.
The Solution
Our team identified a contracting program that rates on number of tradesmen in the field instead of payroll. Based on this new rating, the client was able to save over $14,000 annually on their overall insurance costs. The program also provided errors and omissions insurance at no additional cost, a coverage not previously offered to them in the past.
Youthful Driver
The Client
A family insured for many years with LH&W who had always been very pleased with the way their insurance carrier had settled their claims over the past few years.
The Challenge
Their daughter passed her driving exam and was ready to be added to the policy—but it increased by double when she was added.
The Solution
LH&W presented the client’s account to a few of the insurance companies known to be the most competitive with youthful drivers. We were able to decrease the cost by 50 percent, and add a $2 million-dollar umbrella policy to protect their assets from the increased exposure that comes with a youthful driver.
Private Client
The Client
A family who had experienced several years of increased personal assets to due the growth of their construction company.
The Challenge
Because the client had not been proactively approached by their representation in the past three years, many of their newly acquired physical assets were uninsured and exposed—in addition to their increased liability.
The Solution
A 30-minute, in-person meeting to review current property values and liability exposures to ensure all coverages were properly updated. The cost to increase their protection was minimal, due to our independent structure and the ability to analyze programs offered by multiple insurance companies.
Business Owner Protection
The Client
Three owners of a five-year-old general practitioner’s office.
The Challenge
After a discovery meeting, LH&W found that there was no plan of succession in place to ensure the partners were covered in the case of one of their deaths.
The Solution
Key Man insurance was placed on the doctors to protect each of them if something tragic were to happen to one of them. This would allow the remaining owners to continue to run their operation without taking a substantial financial loss.
Tobacco User
The Client
A 41-year-old female smoker.
The Challenge
After submitting the information necessary to receive life insurance coverage, it was discovered that the insured was a smoker, which had not been admitted during the application process.
The Solution
LH&W represents over 50 life insurance companies, and we were able to pivot to another company that is the most competitive with tobacco rates in the short term for immediate coverage. The insured put a timeline together with LH&W on when they planned on quitting, at which time we will explore non-smoker rates for a long term solution.