International Door & Operator Industry

JUL-AUG 2013

Garage door industry magazine for garage door dealers, garage door manufacturers, garage door distributors, garage door installers, loading docks, garage door operators and openers, gates, and tools for the door industry.

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Page 70 of 119

AssociAtionnews (continued from page 67) Most members have saved 15% on their insurance costs while broadening necessary coverage. Because cash fow is extremely important during an economic downturn, many door dealers are looking to improve their insurance programs with broader coverage and more competitive rates while protecting the company. In addition to having broader coverage and lower rates, the IDAssurance Program also provides payment plans for those who qualify. That helps a dealer's cash fow. Most insurance carriers require the full amount of the insurance premium to be paid on the effective date or sign a fnance agreement with fnance charges in excess of 10%. Liberty Mutual is able to provide (based on credit score) payment plans with most IDAssurance members paying 25% down, followed by 8 equal installments. This type of payment plan will allow positive cash fow for each member. Many of Liberty Mutual's payment options allow each member to have a low down payment with 8 monthly installments. Because of the economic downturn, every door dealer is looking to increase their bottom line while keeping the services and insurance coverage they require. The IDAssurance Program will continue to provide no minimum earned endorsements on its policies, and in addition, will allow door dealers to work on residential projects. Most other insurance company policies do not allow contractors to work on new residential work. Liberty Mutual Insurance Company will provide coverage for its members through the IDAssurance Program to bid and perform residential work. Liberty Mutual's policies are designed and specifcally tailored for IDA members and provides the necessary coverage and limits that large general contractors require. If you want additional information about the advantages of the IDAssurance Program, please contact Andrew Stergiou at 212-603-0321 ( Alliant Insurance Services, Inc. is the consulting broker for the IDAssurance Program, is one of the largest and most experienced insurance and surety bond brokerage frms in the country. 68 International Door & Operator Industry™ Advantages of the IDAssurance Program • GeneralLiability,Automobile,andWorkers Compensation written with Liberty Mutual Insurance Company – An admitted A XV rated Company by AM Best • $0deductibleonthegeneralliability,workers compensationandautomobile(Except$500 comp/collision deductible) on all policies • NO residential exclusion • Abilitytoreceivecertifcatesofinsurancewithin 2 hours of the request via email • PoliciesspecifcallytailoredfortheIDAmembers • Generalliabilityperprojectwithaggregateof $5,000,000 • Broadandcomprehensivecoverage •CompletedOperationsforAdditionalInsureds •Generalliability,workerscompensation', and automobile liability waivers of subrogation (Blanket Waiver of Subrogation) •Primary&Non-contributoryendorsement TESTIMONIAL: I would like to thank Andy Stergiou and all his staff for helping me better understand the whole process of insurance. I needed to be insured in more than one state, and some insurance companies couldn't even do that. Andy was able to get this all done and in a very short time. I only had two weeks to get this all going and he was able to do that. He always kept in touch and if I had a question no matter what time day or night it he always got back to me. Steve Getzin Doormaster Garage Doors, LLC – Hampshire, IL

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