NeMont - Insurance update

[TFinalshot]

Hey NeMont, youre an insurance guy right? It's time for me to shake the cobwebs off my policies. . . do you have any recommendations for how to get the best insurance rates and the most service without getting duped by a slick sales person?

I recently had a experience with my agent whereby I did not ask the right questions and so he they did not offer to help me tighten up my accounts (ie save money). I did some more digging, called a few other agents and one of them was completely honest with me and explained a few things that ultimately saved me a few bucks, the others were not willing to help me like that.

This makes me think there's a lot of margin in your business and if youre not educated you might have to pay more and not even know it. It not like there's a stick price on insurance, so it's hard to compare and even harder to know what's fair.

So, can you offer any advise to you MM friends about how to shop for new insurance or how to get the best, most honest service possible?

Assume a good client with great credit, great driving record - no tickets, car and house on one policy. . . etc. . .

 

[bobcatbess]

LAST EDITED ON Apr-05-09 AT 09:54PM (MST) by TFinalshot (moderator)[p]

THERE'S ONLY ONE bobcat!!!

 

[isayNUNYA]

Get GEICO D-bag.

---------------------------------------
Mike Sucks.

"I needed a cheesy signature saying like everyone else"

 

[bobcatbess]

LAST EDITED ON Apr-06-09 AT 07:09AM (MST) by TFinalshot (moderator)[p]
REMEMBER!!!

THERE'S ONLY ONE bobcat!!!

 

[Zigga]

Farm Bureau seems good.

 

[NeMont]

LAST EDITED ON Apr-06-09 AT 09:20AM (MST)[p]While I primarily work in the life and health market there are some basic rules to insurance shopping that probably apply. Auto insurance is one area I am not an expert in though so take that for what it is worth.

What I try to get across to my clients is that all the whistles and bells any insurance company has are there to entice you buy because of that. What is more important is the underlying contract. What is and is not covered in the contract not per the agent.

While alot of people believe insurance agents are lower then attorneys and used car salesman, a really good high quality agent will save your bacon. A couple of things IMO that a good agent will provide to you 1. honesty 2. educate you on the different coverages available 3. be willing to explain how he/she is paid.

Also think of what is truly at stake in insurance ie often your future financial stability. Why would you just go to one place and buy what one person recommends? Competition keeps people on their toes. It is your money and you should feel that you are getting maximum value for what it is you are buying.

I wish people would sit down and think through what insurance truly is: ie, transfer of risk vs. a maintance program. When is that coverage the most important? People who just want the cheapest are the worse clients because they are the first to sue when the claim occurs. If you want cheap then be prepared for cheap results as well. With the internet and access to so many different companies you can find a price that makes you happy but when the claim occurs you may find out that saving the few hundred bucks costs you many thousands.

So arm yourself with some knowledge, challenge the agent to put what he/she says in writing and get a copy of it, keep good records, ask any questions that come to mind of if the agent does not answer them be prepared to walk. Also if you have a long time agent and find out that they have been looking out for themselves and not for you don't be afraid to fire them.

Nemont