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Cheaper Insurance at What Cost?

Do you know what to look for when shopping for insurance?

Unless you are an agent, a risk manager, or perhaps a contract lawyer, probably not. One of our clients learned this first hand recently when he came in to cancel the auto insurance policy he had purchased just 10 days earlier. Always wanting to understand why someone leaves us, we asked him why. We left out the name of the insurance company, but this is how the conversation went:

Anchor: Can we ask what made you change your mind?
Client: I called (big name insurance company) and they sold me a policy that is $12/month cheaper.
Anchor: I am sorry to hear that, did they give you the same coverage?
Client: Well I brought in the copy of my policy to show you.

A quick review of the policy uncovered that big name insurance company sold our client a bare minimum policy with far less coverage. Explaining this to the client, his response was:

“Why would (big name insurance company) do that?”

Of course most people want to pay as little as possible for something they are requried to purchase and hope they will never have to use. But what if you DO have to use it?

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THIS IS WHY YOU NEED AN INDEPENDENT INSURANCE AGENT!

The results are often worse when purchasing “do it yourself insurance” online. But we will save that subject for another Blog.

Until then, I am Agent Scarlett Boutchyard, your new Anchor Blogger bidding you all to:

Stay Covered, North Carolina!

Comment and tell us about YOUR insurance shopping experience!

 

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