Jay Roten and Greg Bowman of Commercial Insurance of Texas, explain how to get the best deals on windstorm insurance. Courtesy photo
Competition in the windstorm insurance market is here at last! Commercial Insurance of Texas, which provides coverage for businesses in the Coastal Bend, is one of the few carriers that can provide what has been a hard-to-get, expensive product for a better price and better coverage.
“We are cycling from a closed to a more open market,” said Greg Bowman of Commercial Insurance of Texas. “If you have a competitive product with a better price, you are going to get the business. We have carriers contacting us now about writing business along the Texas coast.”
That’s especially good news for Corpus Christi businesses, which have suffered in the past decade with high premiums for minimum coverage. Few carriers have been willing to handle windstorm insurance, driving up the prices. In cases where no carriers can be found, consumers are forced to turn to the Texas Windstorm Insurance Agency. TWIA is a necessary last resort since windstorm coverage is a legal requirement all along the Gulf Coast when a financial entity has a loan on the property being insured.
“We are an agent of TWIA, just like some other agencies,” Bowman said. “We place businesses with TWIA when there are no other options. We are now starting to see standard line carriers wanting back in the business, though.”
Competition creates the best products for the consumer, and right now, Commercial Insurance of Texas has a competitive edge in the windstorm insurance market.
“We have a niche that we market to,” Bowman continued. “We insure anything that is automotive- or equipment-related, including construction equipment, as well as commercial buildings like apartments and retail strip centers and hospitals.”
With these customers in mind, Bowman and his partner, Jay Roten, are always on the lookout for what they call the “BBD:” the Bigger, Better Deal.
“There will be a feeding frenzy for awhile until everyone gets a better deal,” Bowman said. “We have the market knowledge and appointments by the best carriers that gives us the competitive edge over many other agencies.”
Commercial Insurance of Texas can land the best deals because “We are good at what we do,” he continued.
“We stay in our lane,” he said. “(Insurance) carriers like that because they know they are getting quality customers from us.”
Of course, a major hurricane could turn all that back around. Bowman and Roten, however, see the bright side.
“Right now is the turn in the market where we are seeing carriers come back in — independent carriers, not a state agency,” he said. “Bottom line is consumers win.”
For more information about Commercial Insurance of Texas, call either Bowman or Roten at (888) 375-6132 or email windstorm@cioftx.com.
