You see, when you are out of time, you options are greatly diminished. Most insurance brokers want to be the last to present their renewal quotations. It increases the odds of them getting the renewal sale. They can ask what else is being considered. If it turns out you have a better quote from someone else, they get a chance to find something wrong with it, or call their underwriter for a deeper discount. They want to call their underwriter and say, "You can write this renewal if you will meet these conditions." Many deals happen this way every day of the week. Contractors complain about this practice all the time, but insurance brokers have plenty of proof coming in late makes money.

A lot of contractors try to avoid getting into the corner of the last minute renewal, but find they are frustrated year after year. We find getting quotes in early takes quite a bit of effort and resolution. Let me share with you a few of the strategies we've found to be helpful.

Start early and take the initiative. At least 90 days prior to your expiration date, pull together complete renewal specifications, get updated loss run reports, and start asking brokers which markets they want to approach for quotes. A market assignment is valuable to a broker, so give it only in exchange for a solemn promise to stick to your deadline. Put the deadline in writing.

Brokers need to be sure their quotes will not be shopped to other brokers. Giving you a quote early exposes them to lethal competition. Assure the brokers you will be completely fair. Then stick to your promise, and don't give quotes to other brokers in advance of your renewal.

Be very firm. Repeatedly advise brokers that the deadline is the deadline, not the expiration date. The more often you state that, and the more firmly you state it, the more you will be believed. Late quotes will no longer be a problem for you, if you really refuse to accept late quotes, even when they are cheaper.