By Jeanette Beardsley, Walter L. Clark & Associates
© RTO Online, Inc.

Screening employees also reduces wrongful collection claims, for which there is generally no coverage.

In an ever changing insurance industry, obtaining and keeping Property, Liability and Auto Insurance is becoming more and more difficult. I speak to prospects daily with the same dilemma - “My insurance agent does not understand our business and the company is canceling our coverage”.

To protect your coverage, the RTO client and agent need to be partners is controlling risk. An agent that knows the Rent to Own Industry is equipped to educate the insurance company.

Here are some hints for keeping your account clean and saving money while maintaining adequate insurance coverage for your rental purchase company.

-Run the motor vehicle reports on employees prior to hire and annually thereafter (Walter Clark & Associates will run these reports at no charge for RTO clients). Running these reports, as well as criminal and reference checks, will reduce auto claims. Screening employees also reduces wrongful collection claims, for which there is generally no coverage.

-Use a minimum $1,000 deductible on vehicles and property to minimize small claims and lower premiums.

-Train delivery personnel to test all washing machine installations for leaks running the machine. Even a small leak in a second story apartment can cause severe liability.

-Some landlords require the business owner to pay for building repairs or maintenance. Check the lease to insure you have adequate coverage for glass, air conditioning units and roof damage.

If your account is clean and well managed, and you maintain membership in a trade association, Walter L. Clark & Associates has been granted underwriting authority to give premium discounts as individual State laws allow.

For more information, contact Jeanette Beardsley, CPIW; AIS, Lic # 0A65267, Walter L. Clark & Associates, 1-800-457-9362, 1055 W Morton Ste C. Porterville, CA 93257