INSURANCE TIPS

For most Consumers, the short answer is YES!  You don’t need to know a lot about insurance.  That’s the Insurance Agents job.  There are a few things you should keep in mind. 

An insurance policy is a contract (a legally binding agreement). Insurance companies are not in business to pay claims.  They must pay claims to be in business.  To an insurance company, a claim is an expense, and, like all well-run businesses, controlling and minimizing expenses is a priority. 

The true cost of insurance can only be determined after a loss. In any profession, there are different levels of skill.  Determining competency is difficult before any work is done.  The skill and competency of an Insurance Agent can only be evaluated after a loss.  Here are a few steps you should consider. 

1) Is the individual you are talking to an Insurance Agent licensed in your state? 

2) Ask for their license number. 

3) Does the Insurance Agent have Professional Liability Insurance? 

4) Ask for a Certificate of Insurance. 

5) Is the Insurance Agent working for you? 

As each answer is given, make a quick note next to the question.  Also, date and provide a time for the conversation. 

If you are satisfied with the above, you can start by clearly stating you are seeking advice. 

From here, the Professional Insurance Agent will take over and earn your trust and confidence.

ABOUT YOU: 

• Date of Birth 

• Sex 

•Marital Status 

• Contact Phone Number 

• Email address 

• Driver’s License Number 

WHERE YOU LIVE: 

• Home Address (City, State, Zip Code) 

• Who lives with you

• For all who reside in your household: 

• Name, 

• Date-of-Birth 

• Relationship 

COVERAGES: We recommend you start with the coverages you already have.  You’ll find this information on your Declarations (DEC) page. You are looking for a price comparison with the coverages you currently have.  If you’re talked into changing coverages at this stage of shopping, you won’t have a comparison.  A COMPARISON is what you want! 

Is the coverage you currently have the right coverage?  Remember, ‘The true cost of insurance can only be determined after a loss.’  You need to talk with an Independent Agent.  An Independent Agents can offer a variety of insurance company policies.  Some Agents will tell you they are independent.  Well, they aren’t necessarily lying because they can be independent business owners.  Like a franchise owner.  They are independent businesses, but by agreement, they can only sell one product. 

This is a very important question that is almost impossible to answer until after you have a loss.  Commercials encouraging you ‘to only buy the insurance you need’ want you to focus on price.  Those commercials should include one more line, ‘and remember, caveat emptor.”

Most conversations end with the Consumer asking: ‘Well, how much is this going to cost?’  And that’s a much better question, provided the Insurance Agent walks you through the types of coverage available.  However, for this discussion, you need to understand there are three main buckets of costs. 

The Premium: what you pay every 6 or 12 months. 

The Deductible: what you pay before the coverage kicks in. 

Many assume the policy they have includes all the discounts they are entitled to which is not true. Let us shop for you and we will ensure to look for your savings. 

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