We are an Insurance Broker in Texas that specializes in commercial and personal insurance. We guarantee greater security at a superior value.
Benchmark Insurance Group of Texas is the leading risk management insurance brokerage for businesses of all sizes, with capabilities to provide the industries lowest premiums from top rated insurance companies, first class service and in house claims consulting to provide representation when claims do occur. Our Vision is to provide our clients and partners knowledge by providing tailor made solutions that are designed address everyday business crippling risks. We are more than an insurance broker – we are your risk management partner With a team of 15+ staff in the Houston, Clear Lake, and Austin areas focused solely on refining strategies to provide our clients with affordable insurance rates within 24 hours or less as well as establishing several options that pinpoints the unique insurance challenges that business owners and professionals face. Our program is designed to provide business owners with “ease-of-use”, appropriate coverages, and fair, stable rates.
Operating as usual
From our Family to yours, We want to wish you a Merry Christmas 🎄
As risks in the construction industry continue to expand, the need to have a long-lasting, resilient plan in place has become even more crucial. Resiliency being the keyword today— plan a process that covers for employee safety, technology adoption, longer project deadlines, etc.
If you're custom home building, renovating, or just adding a fence for a client, you need to be insured. With new adjustments sweeping across the world, the need to be protected from old risks and new should be a key focus. As a broker who can adapt and be just as resilient, we are more than happy to help you build your process.
Exposures, delays, added costs and shutdowns... New safety protocols have added a new set of risks and challenges as we continue to work through projects and work through the pandemic.
As you adjust, so do we. Insurers are facing new challenges and ways to mitigate new risks and exposures. As a broker with skin in the game and long underwriter relationships, we are able to provide coverage that will keep you protected as you roll through the year.
As we move on through 2020, the effects of the pandemic are still murky for the construction industry. As projects take longer to complete do to new regulations, so does the risks become greater.
As a general contractor, you'll need need a broker who has long-standing relationships with their underwriters who can provide you with the best coverage at the best value. Don't wait, we are only a call away.
Retrenchment is hitting all classes of business. In general, rates are rising 10% to 25%, although steeper increases can be expected on more difficult classes of business including: habitational, heavy manufacturing, recycling, and food-related products.
Submission volume has picked up significantly, and this, along with heightened underwriting scrutiny is leading to longer turn-around times for proposals. Underwriters are revisiting prices, carrier-mandated changes, and subjecting risks to greater scrutiny. NOW more than ever, you need a broker with the capability to work directly with their underwriters and develop a policy that still covers all of your risks, in an efficient time, and at a price that works best for you. Reach out to us, we are only one call away.
Hurricanes typically get the rap for much of the losses and headlines when it comes to natural disasters, however, convective storms and wildfires have played a growing role in the recent years. On top of that, the 2020 Atlantic Hurricane Season has been proving to be a very busy season (unfortunately).
As we exit out of hurricane season and into winter season, brokers and insurers need to be vigilant in how they will handle risk evaluation and underwriting decisions when it comes to natural disasters like wildfires and floods. We, at Benchmark, are actively researching data to help provide our clients with the most up-to-date information regarding insurance, please give your agent a call and re-evaluate your policy, to make sure that it is the most current and effective policy heading into the future.
2020 has brought on more catastrophic events than any other year. We’ve gone through the pandemic, and of course, Spring brought in the “normal” catastrophes, including some deadly thunderstorms and tornadoes. This was followed by an early start to a hurricane season that continuously set records through the summer, and wildfires for which the full scope of the damage will not be known for some time.
The overall market has become more complex, making it essential to work with brokers who have deep market knowledge and strong relationships who can develop innovative strategies to build successful programs for their clients. Providing detailed account data and helping our clients navigate the constantly changing conditions is essential. We are more than happy and willing to help you along your business endeavors. Contact your Benchmark Insurance Agent for more information.
We wanted to take the time to highlight one of our vendors, CRC Group Wholesale and Speciality. As a leader in the wholesale data market, we thank you for providing us top notch service and welcome you into the benchmark family!
With the pandemic here and storms coming, one may assume the real estate market isn't fairing well. However, this couldn't be farther from the truth. In fact, some of the latest real estate trends are happening BECAUSE of our current situation. More people are leaving the densely populated city for more rural and suburb areas. What does this all mean? Now's a GREAT time to reevaluate your real estate insurance with Benchmark. We can set you up on a package policy, add properties into the policy at any time of the year, and we can cover those properties while vacant, under construction or leased, all on the same policy!
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30 Days: The number of days it takes for most flood insurance policies to go into effect. Don’t wait until it’s too late! For more information visit: FloodSmart.gov #PrepareNow #BeReady
Flooding has always been a drag and somewhat of an annoyance. Almost 90% of all natural disasters include flooding, and in some cases (without the PROPER insurance), make re-opening business almost impossible. This is why having the correct and MOST UPDATED insurance policy matters most, especially in today's time, where managing your expenses and saving costs is absolutely vital to your business's survival.
Now, more than ever, insurance companies are scrambling to figure out how to streamline their services and grow using technology. 70% of CEOs surveyed say they will prioritize or invest in (technological) customer experience in the upcoming months leading to 2021. We at Benchmark pride ourselves on our technological advancements, especially as it concerns our real estate sector. Our online portal gives investors better control over their insurance.
1. Shop rates with trusted Broker/Agent. Work with a broker who has access to multiple carriers and programs AND understands your unique needs as an investor.
2. Consider Higher Deductible. The more you self-insure, the lower your insurance rate. Increasing your property deductible from $1K to $5K could save you as much as 25%.
3. Make Property More Resistant to Loss. By properly managing your investment properties you may be able to avoid preventable losses and demonstrate to your insurer that you are serious about risk management.
4. Require Renters' Insurance. This is a plus for your tenant, but also helps you save money in the long run. Tenants can do negligent things.
5. Don't Cut on Liability Costs. Lower limits save little money and can leave you and your business dangerously exposed in the event of a serious liability suit.
The leading cause of loss in the construction space, which ties in with the trend of social inflation, is worker injury. Loss-causing incidents like falls, strikes by objects and over exertion cost the US construction industry around $7 billion every year, and that figure is only trending upwards. On the builders’ risk side, the most common claims involve water infiltration and water damage during the course of construction. That water damage can cause direct physical loss, it can delay the completion of a construction contract, and it can lead to downstream construction defect claims. We rise #AboveTheBenchmark by staying up to date and current in the industries. It's the only way for us to stay on top of our game and provide excellent risk management services. Call an agent today!
Just some tips to help you stay #AboveTheBenchmark We want you and your business to prosper to the fullest extent. Fires will definitely keep that from happening, however, and while the number of fires to businesses over the last 4 have gone down 2.5%, the amount of money spent on renovating and insurance claims have skyrocketed to $25.6 billion. As we advance our technologies and materials, the risk and amount of money spent becomes greater. Protect your business, protect yourself, and call a Benchmark agent today.
This past Sunday, Twitter Inc. said that unidentified hackers targeted 130 accounts, stole information, and reset passwords to take control of 45 of those accounts, sending tweets out from the accounts, and using personal information to steal a significant amount of money. Some of the accounts that were attacked were Joe Biden, Obama, Jeff Bezos, Kanye West, and so on. Account information may have also been sold in that time.
In a time where digital media and marketing are at an all time high, so should the risks associated. Most companies are moving towards online work to combat closing down, but don't take the time to reevaluate their insurance policy for the higher risk in cyberattacks. Benchmark knows all too well the outcomes of not being protected in all facets. Call us today and let's talk about your business needs before it becomes a serious problem.
Most landlords assume that ANY kind of damage done by a tenant will be covered. This is simply not the case. While Intentional tenant damage and wear-and-tear are excluded, accidental tenant damage done by tenants is covered by most property policies. It can be as much as your property is worth or much greater depending upon your location. To combat Intentional Tenant Damage: Two words – thorough screening. To keep Wear-and-Tear to a minimum: During the check-in walk through, give your tenant a detailed list of the cost to repair. Call Benchmark and let's get you covered the right way.
ATTENTION COMMERCIAL PROPERTY OWNERS 🖐🏽 Covid-19 has probably left you with the ideas to clean up and clear out of your building as fast as possible, without warning. We get it... stay at home orders were made and at the end of the day, safety comes FIRST. However, we mustn't forget about the property! Has your broker or agent checked up on your coverage lately?
“Some of the biggest concerns of carriers are centered around indoor environmental issues. We suspect that in many cases climate control wasn’t properly set, and people will eventually return to find mold blooms, legionella — we don’t think anyone’s out there cleaning their cooling towers right now — and leaking oil tanks,” said Jared Dubrowsky, vice president of the environmental practice at NFP.
At Benchmark we are currently making calls and checking up on our clients to make sure this ISN'T happening and that when it's time, they will have the proper insurance in place to cover their building. Stay safe, stay sanitary.
Ask yourself, have you ever been read your exclusions? Does your agent really dig deep enough and fully understand what your needs are? If you're a savvy investor, these things should be running across your mind often. As your portfolio grows, so does the risks associated with it. Benchmark provides investors with a rare package that eliminates the need for multiple insurance coverages and those expensive umbrella policies. Package all of your properties under ONE INSURANCE POLICY that enables you to customize your coverage type, amount, and deductibles to fit your specific needs. Deal with a Broker who can understand the value of your portfolio and build you a narrative to underwriters, giving you the best advantage when shopping for insurance.
There is an unmistakeable trend impacting many independent subcontractors (Small/Midsize Enterprises) at this time. In order to win these "lucrative contracts," subcontractors are being forced to sign up to demanding client contracts that can expose them to a mountain of legal liabilities and hardly seek to protect them at all. Unfortunately, those who accept this and agree to purchase the bare minimum insurance to take the job may not fully understand their true risk exposure, making them vulnerable should they fail to meet the deliverables or scope of services. Recently, SMEs often have to sign up for indemnification agreements that are against them or at best, mutual, as they wish to take on the job. While this may act as a safety mechanism for the client if a claim were to arise, spreading the risk between them and the contractor, it can also carry legal risk due to the contractual terms and conditions the independent contractors sign up for. This is particularly potent in the form of bodily injury claims and has become a particular issue in the construction and energy industry. In other words, GET THE PROPER COVERAGE AND DON'T CUT CORNERS. Call Benchmark and let us develop a quality coverage for your business.
As businesses reopen, real estate experts report large retail centers are increasingly being turned into mixed-use venues, a trend that will require new insurance solutions. As new challenges come, so does the reassessment and revaluation of insurance. Ideas of new living facilities, retirement homes, and other commercial spaces are being talked about daily. In some places, shopping malls have even been repurposed into medical facilities. Malls also tend to be near public transit and bus lines, and they provide plenty of space to create completely independent units that are not on central air, if ventilation is a concern, according to Michael Krueger. “The insurance companies are really going to be the ones that are going to dictate this." Benchmark is qualified and more than ready to accept the challenges and that these new opportunities bring. Call us today!
We wanted to highlight the newest member of the Benchmark family: Postel Group. You have been a major player in the construction industry, providing solutions to many problems for years. You've left your mark on Houston, building the BBVA Stadium: home to our Houston Dynamo, Houston Dash, and Texas Southern University. We appreciate and thank you
In 2020, YOU need an Agent/Broker who's #tech savvy and an online expert. Unfortunately, many insurers still use the older #geocoding methods that result in non-trivial portfolio risk. Recent research conducted by Ecopia A revealed an estimated $43B of value-at-risk across the U.S. resulting from #inaccurate geocoding based on earlier, less precise methods. Without accurate location information, underwriters could quote and write #property risk based on a completely different set of factors versus what exists in reality. On a given property, the exposure that a building has to various #perils might vary significantly based on where it resides.
Benchmark has the latest and greatest when it comes to online capability, support, and management. For our investors, we go above and beyond to give you the most accurate data to provide the best coverage.
How does Benchmark battle the difficulties of #COVID-19 and continue to provide immediate service?? The answer is simple: Automation. #Automation is helping early adopters to improve underwriting results, accelerate faster go-to-market time for new products, and grow #premium income while freeing up time for their #agents and advisors to focus more on critical processes.
By deploying similar RPA bots, many of the manual and repetitive processes can be #automated without any changes to the existing insurance management system or others used by insurers. The use of bots can also free up precious time for agents, brokers, carriers, underwriters, risk managers and claims professionals allowing them to focus on more complex and critical tasks of their clients.
#Storms and inclement #weather CAN and WILL affect your business, especially construction businesses. While the recent storms in Texas and other areas in the southern United States represent a silver lining for those involved in repair and #reconstruction, these storms have caused disruption and delay on many construction projects that were underway. In many cases, those associated with the construction industry have experienced costly delays and increased expenses to their construction work. The first and foremost concern relative to a hurricane is the loss of #life, followed closely by #property damage, alongside the pandemic. Almost as costly and disruptive is the issue of changed conditions at the work site, just to name a few major risks that this season will bring. Being prepared with the right insurance and having an action plan are the keys to success.
When it's not used to light up a dark place or warm yourself, #fire can be a pretty devastating thing to you and your company. What makes fire worse for real estate #entrepreneurs is that it's typically used in real estate crime. Many businesses are #vulnerable to losses from crime. According to the FBI, arson cost #commercial real estate owners in the industrial and manufacturing sectors an average of $168,000 per incident in 2014. Other commercial real estate owners can expect damages due to arson to cost an average of $57,000. Not surprising that it ranks within the Top 10 costliest claims. In a time where saving #money and cutting unnecessary #expenses is more pertinent than ever, protecting yourself from costly #crimes ranks at the top of the list.
If you are looking for an insurance agency that will put your needs first, then Benchmark Insurance Group if Texas is your go-to in Houston, TX. As your dedicated insurance agent, we want to ensure you understand your insurance options and answer any questions you have. We know that life changes often present new needs and can help identify any gaps in your coverage. Whether you are looking for commercial, or business insurance we have you covered. Call our agency today for a quote!
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