Frequently Asked Questions

We believe an educated client is the best client. To help you know more about us and to answer common questions, we have created this FAQ page. If you have further inquiries not addressed below, please call me 610-834-0090 ext. 112 or e-mail me at Stuart@Preston-Patterson.com.

Q: Why should I entertain a bid from Preston-Patterson?

A: First and foremost, we are going to cut your premiums - our goal is to cut your premiums by at least 20% - 30%. In addition to saving you a lot of cash, we're also going to give you better coverage. On top of that, we're going to give you better service. All three matters will be explained and documented in detail in our proposal. What else do you want?


Q: My coverage does not renew for another six months. Should we wait a few months to get started or, if we start on a bid now when can I expect my quotes?

A: If we are going to save you 20% - 30% plus, provide you with better coverage and better service, why wait? Depending on the information that you have on hand, the fastest we can prepare a bid is five to ten working days. A comprehensive, diligent market search however will require fifteen to twenty-five working days and possibly longer for large companies.


Q: I'm very busy. How much of my time is your preparation of a bid going to require?

A: Two to five hours. Typically we will need a couple hours of your time in our first meeting and then one to three hours thereafter to discuss various matters leading up to our final presentation of the bid.


Q: What do you need me to provide you in order for you to prepare a bid?

A: Not much. First, following a brief meeting in your office to discuss general issues, we would like to conduct a review of your current insurance policies. Much of the information that we will need in the preparation of our bid - addresses, schedules of vehicles, etc. - is listed in your policies. Next, we need you to advise us of any changes in your activities that you would like to have reflected in our bid. Then we need claims information - the underwriters will require that we provide them with claims information for your company for the last few years. Also, it is very helpful if you can provide us with a quick tour of your facilities. You've heard it before - "A picture is worth a thousand words.".


Q: I'm interested in a bid but don't want to confine the process to you and my current agent. Where do we go from here?

A: In the interest of making sure that everyone quotes "apples-to-apples" you might want to develop a Request For Proposals (RFP). Hopefully your current agent will be agreeable to preparing an RFP free of charge. If not, Preston-Patterson will (it's a natural bi-product of our preliminary meeting with you and the policy review - a little extra time on your part is needed). Or if you want, you can hire a risk consultant to prepare an RFP.


Q: In addition to a large facility here in Philadelphia, we also have a warehouse in Los Angeles. Is that a problem?

A: Not at all. We're licensed in 44 states, including California, and we specialize in multi-state risks. By the way, we have some great facilities for earthquake insurance for that Los Angeles warehouse.


Q: Let's assume that you win my business, who's going to handle our account? Do you have one person for claims, another for bonds and another to handle next year's renewal?

A: Plain and simple, there will be a total of two people at Preston-Patterson involved in the administration and management of your insurance portfolio - an account executive and an account manager. The account executive will handle all matters of corporate level consequence such as the preparation of subsequent quotations for coverages you have not purchased previously (ie employment practices liability insurance) and solicitation of quotations for next year's renewal, etc. The account manager handles all transactional matters such as changes in vehicle fleet and all claims. The account executives and account managers at Preston-Patterson are all skilled, experienced insurance professionals and all have completed at least one professional designations such as the CIC or CISR.