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Frequently Asked Questions

A regularly updated and growing compilation of the questions we're regularly asked along with detailed answers, explanations, and helpful information.

  1. Are you technically an insurance broker?
    Yes.  To comply with regulations, we must still register as an insurance brokerage.  This means that not only were we required to pass regulatory background checks, we also had to get approval from the insurance companies themselves to sell their products.  What this means for you is that several government agencies and large international insurance companies looked deep into Layr and determined that we are a reputable and trustworthy company authorized to sell insurance.

  2. What types of insurance policies do you sell?
    We sell all types of commercial property and casualty insurance.  This includes General Liability, Professional Liability, Property, Automobile and Automobile Liability, Workers Compensation, Umbrella, Errors and Omissions, Cyber Liability, Directors and Officers, Employment Practices Liability, Crime, Fiduciary Liability, Kidnap and Ransom, Products Liability, and more.  We do not sell personal insurance, life insurance, or any kind of health insurance.

  3. What insurance carriers do you work with?

    We work exclusively with A and A+ rated insurance companies including CNA, Chubb, The Hartford, Hanover, and Beazley to name a few.

  4. Who is your business insurance platform designed for?
    Our platform is designed for the business owner, founder, partner, CEO, or CFO of small and¬†medium-sized businesses who¬†either can’t get a traditional agent or broker to call them back or who simply believe they are capable of purchasing and managing their own business insurance¬†with accurate information and easy to use¬†tools. ¬†We don’t believe insurance is a cryptic puzzle so we built the tools to make purchasing and managing it¬†simple and understandable.

  5. What do I need to begin using your platform?
    Nothing.  Just sign up.  But the best use of the platform comes when you purchase or transfer your insurance policies to Layr.

  6. What do I need to sign up and use the platform?
    Your name and an email address. ¬†To purchase insurance through the platform, you’ll need basic company information like a federal employment identification number, annual revenue estimates, payroll estimates, and copies of lease agreements and contracts.

  7. Can I keep my existing agent and still use your platform?
    Unfortunately, no.¬† Until we become the “broker of record”¬†we won’t have the ability to execute any insurance-related transactions on your behalf and you’ll be required¬†to continue working with¬†your current agent for things like initiating claims, making payments, and changing coverage and limits. However, you can transfer your existing coverages to Layr for free by generating a broker of record letter through our transfer feature. Please note that your current agent will be notified that a new agent is taking over the management of the transferred policies when you transfer them to Layr.

  8. Can I leave my existing broker or agent and use your platform?
    Of course!¬† And we hope you do. ¬†If you transfer your existing policies to us, you’ll really open the full¬†potential our platform.

  9. How do I transfer my current insurance policies to you?
    We have made it very easy for customers to move existing insurance over to Layr. ¬†We have created an online “broker of record” change request form where you can upload your company logo and specify¬†your current¬†insurance carriers and policy numbers. ¬†Then you provide your contact information and sign with your mouse. ¬†We handle the rest. ¬†The policies are typically¬†transferred within¬†10 days.

  10. Can I cancel my current policies and buy insurance from you?
    Yes. ¬†Many people don’t realize that insurance can be cancelled anytime.¬† And if you’ve already paid a full years premium up front, you’ll receive a pro-rated refund for the unused period. ¬†In other words, if you purchased your insurance on January 1st and paid the entire years premium up front¬†then cancelled on June 30th, you’d receive a refund equal to 6 months of premium. ¬†It’s usually best to purchase your new insurance¬†from us first and then cancel your current coverage so that you don’t have a lapse.

  11. Do I have to wait until my current insurance is up for renewal to switch to you?
    No. ¬†If you transfer your current policies to us, you can start begin using¬†our platform¬†and we’ll manage the renewal for you. ¬†However, you won’t be able to take advantage of the monthly payments via credit card until renewal. ¬†To take advantage of our payment options, you would need to purchase new coverage through us and cancel your existing coverage as outlined in the question and answer above.

  12. How much does it cost to use your platform?
    A detailed explanation of our pricing is explained on our Compensation Disclosure page.

  13. Do you have¬†a cancellation policy if I’m not happy?
    Once policies become activated, your relationship for those¬†policies is with the insurance carrier who issued them. ¬†We simply enable you to manage and pay for the policies in a manner that is fast, efficient, cashflow friendly. ¬†If you’re unhappy with our platform or services for any reason, you have a few options:

    • Transfer your insurance policies to another agent or broker. ¬†We would still have to collect the premium on those policies until the policy period is over, but the new agent can manage everything for you.
    • You can cancel your insurance coverage through Layr and purchase new coverage through another insurance agent or broker. ¬†If you choose this option, we strongly suggest that you purchase the new coverage first and then cancel the coverage you purchased through Layr¬†to avoid a lapse.
  14. How do you protect my private information?
    A detailed explanation of how we keep your information secure is outlined on our Security Policy page.