Case Study: Why You Really Have to Tell Your Broker About Everything You Want Covered

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At Apex Risk & Insurance Services, we pride ourselves on building strong, long-term relationships with our clients. In fact, across our history, we have only ever received one negative Google review. Rather than dwell on it, we chose to reflect on the situation. It served as a valuable reminder of why clear communication between a business owner and their broker is so important.

The Situation

We had a client whose policies we renewed. As part of the renewal process, we asked him to confirm that his schedule of property was accurate, that all locations were listed correctly, and that all of his business inventory was included. He confirmed everything was up to date.

Three months later, that same client submitted a claim. The claim involved a number of recreational motor sports items, including trailers, desert toys, and other equipment that had never been disclosed to us, and that were stored at a location not listed on the policy.

The insurance carrier denied the claim. 

The client was understandably upset, but the truth is that those items were never insured because we were never told about them.

The Lesson

This experience taught us a valuable lesson: even when we ask directly, business owners do not always think about everything that needs to be covered. That is why we go out of our way, sometimes to the point of being a little relentless, about staying in touch with our clients.

We are not being nosy. We are protecting you.

When we ask questions, it is because we have seen what happens when coverage gaps slip through. And trust us, you do not want to get that hard phone call saying your claim was denied simply because something was not disclosed.

What You Should Always Tell Your Broker

To avoid these situations, keep your broker updated on:

  • Operational changes – New facilities, processes, or equipment.
  • Employee updates – Especially when hiring in new states or regions.
  • New products or services – What you offer impacts your risk profile.
  • Contracts or partnerships – Agreements can shift your liability exposure.
  • New property or assets – If you own it, lease it, or store it, we need to know about it.

The Takeaway

Insurance only works if it is accurate. When your broker has the full picture, they can make sure your coverage reflects your real risk. When they do not, you are left exposed.

At Apex, our commitment is to ask the tough questions, check in often, and make sure you never face the frustration of a denied claim that could have been covered if the right conversation had happened sooner.

So tell your broker everything. Even the toys.