Recent reports show that more and more consumers are dropping their various insurance policies (particularly auto insurance). It’s a sign of the times. During tough economic periods like a recession, people tend to stick to the bare essentials (food, clothing, education, transportation). Money’s tight, the dollar isn’t what it used to be, and thousands upon thousands of jobs are lost each month. In that light, it’s easy for Americans to lapse on the “extras,” like insurance bills.
Though it might save a consumer some cash in the short term, dropping insurance coverage is like choosing to be vulnerable. They’re putting themselves in a high-risk situation they probably can’t afford—literally—to be in. If he/she fell victim to an accident, theft or was liable for someone else’s injuries, they would have to pay the recovery costs out of pocket, which can cost anywhere from a few thousand dollars to several million dollars.
Maybe insurance has been fairly costly in the past—but maybe your insurance agent didn’t do all he/she could for you. The right insurance agent for you will help you tough it through hard economic times without losing your insurance coverage.
If your priority saving money, here’s what you should do when looking for the right insurance agent for you:
Meet the insurance agents. You get to know a person a lot better by meeting them in person rather than just speaking to them on the phone. Try to schedule some meeting times with more than one agent, try at least three (preferably more), insurance agents to give you a clue on which agent will help you save the most money and provide the best coverage.
Don’t settle for any agent. Ask around. Get recommendations from friends, family, coworkers or your lawyer/real estate agent/accountant. Getting referrals for an insurance agent from people you trust and who know you and what your needs are is the first step to finding the right agent for you. Let the people you’re asking referrals from know your priority is to save money, so they can recommend an agent who offers the best discounts.
Contact your state’s insurance department. Your state’s insurance department has what should be a complete list of licensed insurance agents near you. Also, by contacting your state’s insurance department, you will be able to check whether or not the insurance agent you are considering trusting with your financial security is actually licensed. Always check this out.
Ask about discounts. When interviewing with insurance agents, ask what kind of reduced fees or policy discounts they can offer you. It’ll give you a good idea about how much money you could save and also how helpful and dedicated your insurance agent is.
Check out the agent’s digs. Take note of the insurance agent’s work area, staff and co-workers. Consider who he works with and how he interacts with them. It’ll give you a good idea of how trustworthy he is and how dependable he’ll be to you.
Ask for references. It’s not unusual to ask for customer references, so don’t be shy to get several from any insurance agent you’re considering trusting with your policies. Contact the references and ask about the agent’s services, dependability and if the agent helped save his clients money and offered discounts.
It’s always a good idea to shop for insurance quotes. It gets the competitive juices flowing amongst the insurance agents when they have to compete for your business. This makes insurance agents fight to give you a plan at the best affordable rate available.
The economy might be vulnerable, but consumers don’t have to be. Getting insured just means you’re protecting your assets and finding security. Lapsing on insurance policies is what leaves you in danger of accidents or theft without any financial security at all. A good insurance agent can find you a policy that will fit your lifestyle needs and a great insurance agent will find you one that also fits your budget.
Published: Wednesday 11th March 2009
