๐๐๐๐ฒ๐ป๐๐ถ๐ผ๐ป ๐๐ผ๐ป๐๐ฟ๐ฎ๐ฐ๐๐ผ๐ฟ๐ & ๐ฆ๐บ๐ฎ๐น๐น ๐๐๐๐ถ๐ป๐ฒ๐๐ ๐ข๐๐ป๐ฒ๐ฟ๐: Donโt let chasing the lowest insurance quote put your business at riskโthe cheapest option can often cost you more in the long run!
Navigating the world of #businessinsurance can be challenging, especially when it comes to correctly classifying your business. The reality is, choosing the wrong classification can expose you to significant risks and unexpected costs.
Many online platforms let you select your own #NAICS codes and provide an instant "approved" status, creating a false sense of security. But with over 20,000 unique codes, one simple mistake can leave your business extremely vulnerable. Expecting consumers to accurately classify their business, given the vast number of options and without fully understanding the risks, is a dangerous gamble.
Just last week, our team reviewed a contractorโs policy that was incorrectly classified as an office, resulting in a lower $1,800 premium. In reality, they should have been rated as a plumbing contractorโa higher-risk classification with a premium closer to $18,000. This issue is becoming increasingly common for #contractors and business owners, especially those relying on #insurtech platforms and quick online quotes.
Even if you receive that green โ
"approved" status, thereโs still a high chance your policy could be misclassified. Misclassification can lead to denied claims, uncovered liabilities, and serious financial setbacksโespecially if your operations are more complex than what a generic online form can capture.
Other potential consequences include:
โข Penalties & fines
โข Back pay & unpaid wages
โข Lawsuits & legal fees
โข Damage to company reputation
โข Back taxes
โข Operational disruptions
Donโt be just another checkbox! If you want coverage to be a true safety net for your business and a team that ensures proper classifications, letโs connect.
#contractors #riskmanagement #insuranceadvisors
North Star Insurance August: Business Partner Spotlight: Avance Psychiatry & Dr. Ashwin Patkar, MD
๐ North Star Insurance August: Business Partner Spotlight ๐
Avance Psychiatry & Dr. Ashwin Patkar, MD
๐ Locations: Chapel Hill & Raleigh, NC
๐ Specializations: Psychiatry, Addiction Psychiatry, Pain Medicine, Dual Diagnoses, Integrated Medical Care
๐ Website: avancepsychiatry.com
Thrilled to spotlight Avance Psychiatry and Dr. Ashwin Patkar this month! To say we are immensely honored to insure & partner w/ Avance would be an understatement. With a distinguished career starting from Seth G.S. Medical College, Dr. Patkar has made significant local and global contributions throughout the years. Before Avance Psychiatry and serving as Adjunct Professor at Rush University, Dr. Patkar practiced in the area for decades advancing his profession and was also a key figure at Duke University Med Center as a professor & eventually the Director of the Duke Addictions Program (renowned for its integrated treatment approaches).
Outside work, Dr. Patkar enjoys family time, travel, fishing, yoga, squash, and cricket. Thank you, Dr. Patkar, for your outstanding impact and leadership!
April Client/Partner Spotlight
๐ North Star Insurance April Spotlight: Dhinoy Studios
๐ Founder: Suzanne Dhinoy in 2010
๐ Location: Central North Carolina
๐ Specialization: Real Estate & Architectural Photography
๐ Website: www.dhinoy.com
Dhinoy Studios shines as our April spotlight, focusing on excellence in real estate and architectural photography. Led by Suzanne Dhinoy, they go beyond capturing homesโthey elevate them. With over 15 years of experience and a Bachelor's degree in Marketing, Suzanne brings expertise and creativity to every project. Whether it's interior and exterior photos, commercial portfolios, or drone/aerial photography, Suzanne has it covered. Dedication to their craft has earned recognition from clients and partners alike. In an era where visual storytelling is key, Dhinoy Studios stands out for innovation and excellence.
Thank you for helping other businesses in the community shine!
#ncrealestatephotgraphy #nccommercialphotography #clientspotlight
Welcome to the Team!
We are thrilled to introduce the newest addition to the North Star Insurance team, Thomas Todd! ๐With 14 years of managerial and sales experience coupled with an in-depth understanding of the insurance industry, Thomas brings a wealth of knowledge and expertise to our agency. His expertise will undoubtedly be a tremendous asset to the NSI team and most importantly, to our clients! Welcome aboard!
Updates from the Big I Conference
We recently attended the Independent Insurance Agents of North Carolina, Inc. (IIANC)-Hard Market Symposium in Durham, NC. The remarkable event provided valuable insights into the economic and climate influences shaping the insurance market, along with forecasts for its future trajectory. Moreover, it offered practical solutions to address the prevailing market challenges. We are grateful to be a part of the Big I Association and a Trusted Choice Insurance Agency!๐ค
January Client Appreciation Spotlight: Native Oyster Co.
North Star Insurance ๐ January Spotlight: Creighton McNeil and the Native Oyster Company ๐
๐ Founded in 2021
๐ Proudly based in Morehead City-Carteret County, North Carolina
๐ Specializing in the finest Oysters in NC, Native Oyster Company is a family-run business with over 27 years of culinary expertise, dedicated to cultivating the highest quality oysters in the state.
Huge shout-out to Creighton McNeil & the entire Native Oyster Co. team for their #nativerockdrop across the state during the holidays!
The NSI team, alongside our valued partners and numerous clients, savored these delectable oysters, creating unforgettable Christmas feasts and Oyster Roasts all over NC. ๐ฆช๐
Thank you, Native Oyster Company, for everything!
#NativeOysterCo #MoreheadCity #ClientSpotlight #OystersofNC #SeafoodofNC #OceantoTable
Find Your North Star with Our Insurance Advisors Today
At North Starโญ Insurance, we take pride in being your dedicated insurance advisor, committed to safeguarding you from the everyday risks that life presents. Our policyholders peace of mind is our top priority. Let North Star help guide you through life's uncertainties.
Business Client Spotlight of October: Marshall Worth & Matt Elliott, Co-Founders of The Data Bull.
From startups to seasoned businesses, we're excited to inaugurate our Business Client Spotlight Campaign, where North Star Insurance LLC will shine a light on our incredible partners and their outstanding contributions to their community.
North Star Insurance Spotlight of October: Marshall Worth & Matt Elliott, Co-Founders of The Data Bull
๐ Founded in 2023
๐ Based in the Triangle
๐ Specializes in SaaS Data Management
The Data Bull, an early-stage startup established in 2023 and headquartered in the Triangle, is making noise with its innovative SaaS data management platform. They specialize in using business intelligence (BI) tools to deliver customized data analytic reports, addressing the critical need for data-driven insights in today's world.
Their recent feature in GrepBeat, one of the Triangle's leading tech newsletters, is a testament to their dedication in providing efficient and easily accessible data insights for nonprofits and small to medium-sized businesses (SMBs). Dive into Kaitlyn Dangโs rticle below to explore The Data Bull's remarkable journey!
#TheDataBull #BusinessIntelligence #TechInnovation #ClientSpotlight #BusinessInsurance #NorthStarInsurance #TechNC
Claim Information & Storm Resources-Hurricane Idalia
***NSI Customers in the path or surrounding areas of Hurricane Idalia***
As severe weather approaches the area, please take precautions now to ensure your safety.
We will be here every step of the way, 24/7, and to help assist with any customer claims. In case of an emergency and for the quickest service, please see the link below to submit a claim online or by phone with your specific carrier.
https://www.northstarinsure.com/submit-a-claim
You can also reach a member of the North Star Team by calling or texting us at: (888)664-3126
Helpful Resources:
Ready.gov - Preparing for Hurricanes
DisasterSafety.org - What to Do After a Hurricane
FEMA - Hurricane Planning & Response
Builders Risk Coverage? We Have Your Business Covered
Protect Your Construction Projects with Builders Risk Insurance
Builders and Contractors- if you are worried about unexpected accidents and losses that could jeopardize your construction projects, we have your back. North Star Insurance & our partners will help safeguard your hard work and investments with our Builders Risk products. Let us help you find the best carrier fit for your specific project.
Our Builders Risk insurance offers extensive protection for your construction materials, equipment, and structures against a wide range of risks.
We also understand that every construction project is different. Thatโs why our team will work closely with you to create a policy that suits your specific needs and budget.
Don't take unnecessary risks with your valuable projects. Focus on what you do best, let NSI take care of the rest.
Contact us today for a quote and discover how we can help your business thrive.
(888)664-3126
customerservice@northstarinsure.com
#BuildersRiskInsurance #ConstructionProtection #NorthStarinsurance
