Frequently asked questions about insurance
Answers to common questions regarding our Insurance division.
What does it mean that Parr & Ibarra CPA PC and Keen Coverage LLC are affiliated entities?
Parr & Ibarra CPA PC and Keen Coverage LLC are legally separate companies that operate under common and overlapping ownership. While each entity maintains its own licenses, operations, and regulatory compliance, they work closely together to provide clients with a seamless experience across tax, financial, and insurance services.
This affiliation allows us to coordinate strategies across both firms—whether it’s aligning your insurance with your tax planning, identifying business risks, or helping structure estate and retirement protection—without duplicating effort or missing details.
You continue to receive services from two specialized professionals, but with the efficiency and convenience of one coordinated team.
What types of insurance products do you offer?
We provide a wide range of insurance options for both individuals and businesses, including:
- Personal Insurance (Property & Casualty):Designed for individuals and families—this includes home insurance, renters insurance, auto insurance, umbrella liability coverage, and protection for specialty vehicles like motorcycles or RVs.
- Business Insurance (Commercial Lines):Coverage for small and mid-sized businesses, including general liability, commercial property, workers’ compensation, professional liability (E&O), cyber liability, and surety bonds.
- Life & Health Insurance:Options for individuals, families, and employers, such as term life, whole life, disability income, long-term care, Medicare plans, and group health coverage.
- Specialty & Niche Programs:Tailored solutions for specific industries and needs, including builders-risk policies, inland marine coverage, and custom packages for CPA firms, real estate investors, and contractors.
Are you an independent agency or tied to one insurance company?
We’re an independent insurance brokerage, which means we’re not tied to just one company. Instead, we work for you—not the insurance carriers. We shop your coverage with a trusted network of top-rated national and regional companies to find you the best deal.
Whether you’re looking to save money, improve your coverage, or both, we compare multiple options and recommend the one that fits your needs—not just what one company happens to offer. It’s like having a personal insurance shopper who’s looking out for your best interest every time.
How does the quoting process work?
- Broker of Record (BOR) Change – To get started, we typically request a simple one-page form that allows us to become your official broker. This gives us access to your current insurance policies and claim history directly from the carrier—without disrupting your coverage. It also saves time and ensures we’re quoting based on accurate details.
- Discovery Call (15–20 min) – We talk through your needs, current coverage, risk exposures, and any special requirements (like contracts that require certain limits or endorsements).
- Market Sweep – We take your information and shop it across multiple A-rated carriers. Thanks to our volume and carrier relationships, we’re often able to negotiate better pricing or broader coverage.
- Side-by-Side Proposal – You receive a clear, easy-to-understand breakdown comparing your current coverage to what we recommend. We’ll walk you through where you’re strong, where you’re exposed, and how to improve your protection without overpaying.
- Policy Binding & Onboarding – Once you’re ready, we bind coverage electronically, issue proof of insurance, and enroll you in our proactive renewal-tracking system so you’re never caught off guard again.
How are you compensated?
Carriers pay us a commission that is already built into the premium you’d pay whether you purchased direct or through us. We do not charge broker fees unless a specialty market imposes one, and we’ll disclose that upfront in writing.
Can you bundle my personal and business policies?
Yes. Bundling eligible personal (home/auto) and commercial lines with the same carrier can trigger multi-policy discounts of 10–25 %. We’ll run the math to confirm whether bundling or splitting carriers yields the lowest net cost.
Will my insurance be coordinated with my CPA or tax advisor?
Yes—and the best part is, your CPA is already part of our team. As a client of Parr & Ibarra CPA, you benefit from a fully integrated approach where your insurance, tax strategy, estate planning, and risk management all work together seamlessly.
Our insurance division collaborates directly with your existing advisors to ensure your coverage is aligned with your overall financial picture. Whether it’s selecting life insurance that supports your estate plan, structuring a buy-sell agreement, protecting business assets, or optimizing coverage for tax efficiency—we connect all the dots so you don’t have to.
You’ve already trusted us with your numbers—now let us help protect everything behind them.
How does the claims process work?
- 24/7 Claims Support: You can file directly with your insurance carrier at any time, or contact our in-house claims concierge for personalized assistance and guidance throughout the process.
- Claims Advocacy: Once your claim is submitted, we stay actively involved—monitoring communications with adjusters, addressing delays, and reviewing settlement offers to help ensure you receive a fair and timely resolution.
- Post-Claim Guidance: After the claim is closed, we conduct a thorough review to identify any underlying issues and recommend strategies to help reduce future risk and minimize premium increases.
Can I request Certificates of Insurance (COIs) online?
Yes. Clients receive portal access to generate COIs on demand, typically in under two minutes. Our team reviews every certificate the same business day to confirm contract-specific wording or additional-insured endorsements.
What happens at renewal?
As your independent agent, we take a proactive approach to renewals—because you deserve more than just a last-minute notice and a rate increase.
We start the renewal process 60–90 days in advance, monitoring your current coverage, risk profile, and market trends. If your premium increases by more than 7% or your needs have changed, we re-shop your policy across our network of top-rated carriers to find better value—often before you even ask.
You’ll receive a clear, side-by-side renewal summary with our recommendations, and everything can be handled electronically for your convenience.
Bottom line: You stay covered, informed, and in control—without surprises. That’s the power of having a dedicated independent advisor on your side.
Do you offer risk-management services beyond insurance?
Yes—safety manual templates, OSHA compliance checklists, cyber-readiness assessments, and employee benefits benchmarking are available to policyholders at no additional cost.
How quickly can coverage be bound?
Standard personal lines can often be bound the same day. Most commercial packages bind within 24–48 hours once all application data and loss runs are received; high-hazard or surplus-lines risks may take longer.
What documents should I have ready for a business insurance quote?
To provide you with accurate pricing and tailored coverage options, we ask that you have the following documents available:
- Current insurance policies or declarations pages
- 3–5 years of loss run reports (claim history)
- Payroll and annual revenue estimates
- A list of subcontractors or 1099 contractors
- Equipment and vehicle schedules
- Copies of contracts with specific insurance requirements
Important: As part of our quoting process, we require a Broker of Record (BOR) change. This simple form officially names us as your agent, allowing us to obtain your current policy details and loss runs directly from the carrier. It ensures accuracy, saves you time, and allows us to advocate on your behalf without disrupting your coverage.
We insist on this step because it allows us to do the job right—uncovering gaps, negotiating better terms, and delivering real value beyond just a quote.
Is a medical exam required for life insurance?
Policies under certain face amounts (typically up to $2 million) may qualify for accelerated underwriting with no exam, depending on age and health history. We’ll pre-screen to see if you qualify.
How do I reach you if I have further questions?
- Phone: (817) 562-5375 or (Mon–Fri, 8 AM–6 PM CT & Sat, 9 Am to 3 PM CT)
- Email: info@keencoverage.com or info@aibarra.cpa
Health Insurance
Brought to you in partnership with our affiliated agency, Keen Coverage LLC
Do you offer health insurance plans through Parr & Ibarra CPA PC?
No—Parr & Ibarra CPA PC is a certified public accounting firm and does not sell insurance products. However, we maintain an affiliated relationship with Keen Coverage LLC, an independent insurance agency that offers a wide range of individual and group health insurance plans. This partnership allows us to help you integrate your financial, tax, and benefits planning—while maintaining clear legal and licensing separation.
What types of health insurance coverage are available through Keen Coverage LLC?
Keen Coverage LLC offers both individual and group health insurance, including:
- Individual & Family Plans (on and off the Marketplace)
- Group Health Plans for small and mid-sized businesses
- Health Savings Accounts (HSAs)
- Dental and Vision Insurance
- Medicare Advantage and Medicare Supplement Plans
- Short-term Health Plans
Disability and Critical Illness Coverage
Can you help my business set up group health insurance for employees?
Yes. If you’re a business owner or self-employed individual, Keen Coverage LLC can help you design and implement a group health plan that aligns with your budget and employee needs. Our CPA team at Parr & Ibarra can also work with Keen Coverage to help you understand the tax implications, payroll integration, and compliance requirements.
Will you help me compare Marketplace options or check if I qualify for subsidies?
Yes. Keen Coverage LLC provides licensed, unbiased guidance to help you evaluate Marketplace plans (Affordable Care Act) and determine eligibility for premium tax credits or cost-sharing subsidies. Our tax team at Parr & Ibarra CPA PC can also help you factor health insurance costs and credits into your overall tax planning.
How do health insurance premiums affect my taxes?
If you’re self-employed or providing coverage for employees, your premiums may be tax-deductible. Parr & Ibarra CPA PC will help you maximize deductions and ensure that your insurance expenses are properly documented and reported—especially if you’re using HSAs, ICHRAs, or QSEHRAs.
What if I’m turning 65 and need Medicare help?
Keen Coverage LLC offers one-on-one assistance with Medicare enrollment, including comparing Medicare Advantage, Supplement (Medigap), and prescription drug plans. We also coordinate with Parr & Ibarra CPA PC to review retirement income and healthcare planning as you transition into Medicare coverage.
Can you help with COBRA, HSA transfers, or short-term coverage during a gap?
Yes. Keen Coverage can advise on COBRA continuation options, short-term health plans, and HSA-compatible coverage if you’re between jobs or waiting for a new policy to begin.
Who do I contact for health insurance questions?
For health insurance inquiries, please reach out to:
📞 Keen Coverage LLC – 833.245.2157
📧 Email: info@keencoverage.com
🌐 Website: www.keencoverage.com
If you’re unsure where to start, your CPA team at Parr & Ibarra CPA PC can refer you to the right contact at Keen Coverage based on your situation.
Legal Note: Parr & Ibarra CPA PC and Keen Coverage LLC are separate legal entities with shared ownership and close collaboration. Each company operates independently under its respective licensing and regulatory authority.
Workers’ Compensation
For Payroll Clients of Parr & Ibarra CPA PC
What is workers’ compensation insurance, and do I need it?
Workers’ compensation insurance provides wage replacement and medical benefits to employees who are injured on the job. In most states, this coverage is required by law if you have any W-2 employees—even just one. It protects both your employees and your business by covering on-the-job injuries without requiring the employee to prove fault.
Does workers’ comp apply to independent contractors?
Typically, no—workers’ compensation applies to W-2 employees only. However, if you misclassify someone who functions like an employee but is labeled a contractor, you may still be held liable. Because we handle your payroll, we help ensure that worker classifications are accurate and compliant, reducing your audit and legal risks.
How does workers’ comp integrate with payroll?
When we manage your payroll, we automatically track wages by employee and job classification, which simplifies workers’ comp reporting and ensures better accuracy. We can also integrate with carriers that offer pay-as-you-go billing—so your premium adjusts with each payroll run instead of relying on estimates. This improves cash flow and minimizes surprises at audit time.
What is a workers’ comp audit, and why does it happen?
A workers’ comp audit is a required annual review where your insurance carrier compares your estimated payroll to your actual payroll for the policy period. If your actual payroll is higher, you may owe additional premium. If it’s lower, you may receive a refund. The audit verifies classification codes, wage reporting, and policy compliance.
How does having Parr & Ibarra CPA PC manage payroll help during a workers’ comp audit?
Because Parr & Ibarra CPA PC handles your payroll, and we maintain an affiliated relationship with Keen Coverage LLC, we’re uniquely positioned to help make the audit process smooth, accurate, and stress-free—without crossing regulatory lines between accounting and insurance.
Here’s how we support you:
- Accurate, audit-ready payroll reports by class code, department, and employee type
- Verification of all compensation types, helping you avoid penalties or misstatements
- Direct coordination with your insurance agent or auditor to provide required documentation
- Proactive review of potential red flags, such as misclassified workers or incorrect overtime reporting
Thanks to this coordinated approach, many of our clients complete their audits with zero surprises—and with confidence in the accuracy of their records.
Can you help us get workers’ comp coverage?
Yes. Through our affiliated insurance agency, Keen Coverage LLC, we can help you shop the market, compare rates, and choose the right workers’ comp policy for your business. As an independent agency, Keen Coverage works with multiple carriers to find the best fit—whether you’re looking to save on premiums or improve coverage terms.
Do you help with class code assignments and risk management?
Absolutely. We help verify that each employee is assigned the correct workers’ comp classification code, which directly impacts your premium. We can also identify opportunities to implement basic risk management practices that may help reduce claims and improve your experience modifier (MOD) over time.
