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Hi everyone,
As I assume with most of you, it's time for us to renew our PI insurance. I wanted to get some feedback from others to see what else is going on out there.

I've been with Guild right from the start and was always under the assumption we had a cheap deal because of ApodA membership. I've basically just paid it every yr without thinking about it. However, it does seem that there are cheaper alternatives, despite Guild offering a 10% reduction in the premium this yr (which thankfully indicates that pods aren't really getting sued much out there lately).

This yr I got a letter from another group called "IHGroup". I assume many of you also did. It appears that their coverage is considerably cheaper than Guild. I was wondering if anyone has heard of them, already insured with them etc?

Is it ok to jump ship to another insurance company or should you stay where you are? I'm wondering whether or not it is good to shop around for the best deal, or if it's better to stay insured with your current insurer to show longevity, kind of a "Rating 1" with the one insurer, so to speak? I don't want to change for the sake of a few hundred dollars if it affects credibility in any way. Hope that makes sense??

What say you all? Who are you insured with and would you consider changing?

Cheers,
Nat Smith

 

Guild was never the cheapest, but what they offered was substantially beyond what others were offering which is why APodC went with them. They have in place quite a comprehensive proactive preventative program that other insurers did not have (remember all the stuff we get in the mail from them on preventing problems); they also have in-house lawyers on immediate call which others did not have (you can quickly ring for advice); they also are substantial supporters of the profession in terms of paying for trade exhibits at conferences and full page adverts in newsletters - the value of this in keeping conference registration fees down is not to be underestimated ... stick with Guild.

 

I agree Guild is far and beyond what else I have seen on the market. Personally I do not have an issue paying a little more for a quality product - I am sticking with Guild as well. I like to support a service provider who supports my profession as well.

 

Thanks guys,
Sticking with Guild was kind of the way I was leaning. I feel more comfortable with the idea of keeping the status quo. I just wanted to suss out whether others were doing differently out there. Obviously there will always be competitors in the field, but for the sake of a minimal saving, I too prefer to stay with those that have a longstanding stake in our profession.

Nat Smith

 

Yes Nat I think that is the best choice. From the professional dealings I have had with Guild I have found them to be nothing short of remarkable in comparison to others I have dealt with. I also got the letter you mentioned above but didn't really bother looking into it.

Cheers

Paul

 

Hi Nat guild is ceratinly up there for Pod cover BUT when it comes to cover for other things, they are extremely expensive.

Cheers