Independent regional hardware distributor House-Hasson Hardware announced the launching of a new insurance program for its dealers, intended to ameliorate high insurance costs. Made possible by Addison & Associates of Memphis, Tenn., the program will allow dealers to come together to purchase health and property and casualty insurance as a group.
“It’s very simple,” said Don Hasson, president of Knoxville, Tenn.-based House-Hasson. “If a group of four has someone who has an expensive illness it’s going to drive up their costs - and possibly cost them their insurance. When you’re part of a larger group the cost ratio tends to go down.”
Responses to the new insurance program have been very positive, with nearly 80 dealer leads at House-Hasson’s Atlanta market held June 23-25, the company said. “We did a soft launch at the market to gauge interest without a lot of hype. We’re very encouraged by the results. We’ll now be informing all our dealers of this program,” said Hasson.
Dealers look forward to the prospect of lower insurance costs. Terry Garrison, House-Hasson dealer and owner of HomePro of Hartsville in Hartsville, Tenn., expressed optimism about the new insurance program. “This is going to be great. It should lower dealers’ rates,” he said. “We’ve had to go out and shop independently for pricing. To say insurance rates are high is an understatement. For independents, it’s ridiculous.” He added that insurance rates became so high that HomePro of Hartsville was forced to stop supplying insurance for employees, and that he believed many other independent dealers have had to do the same.
Garrison is not alone in feeling positive about the new program. “We’ve gotten nothing but good comments,” said Hasson. “This is a House-Hasson exclusive and something no one else is doing. We’re always looking for every way we can find to help our dealers be more profitable and successful. Helping them lower their insurance costs is an important way to help make that happen.”