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Confirm sufficient funds are available when binding a new policy
If an initial payment is returned for insufficient funds that policy is null and void, so it’s critical to verify funds with your customer at point of sale.
- Confirm initial payment funds are available in their account if they’re paying by check or electronic funds transfer (EFT)
- Or, offer the option to pay by credit or debit card
- Review best practices
Make it a point to follow these best practices when quoting and binding Commercial Auto so you can offer accurate rates and bind profitable business. We’ll follow up this fall with more tips designed specifically for your agency—and we’re looking forward to your agency growing with Progressive!
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