I don’t need an agent – I can create my own policy online!
Recently, a representative from one of our insurance companies was visiting our agency. He told us about a close friend who made the following statement to him:
“All insurance agents are going to be out of business in a few years! I just went online and designed my own auto insurance policy. I saved a ton of money…I should have done this years ago! No one needs an agent anymore.”
The insurance company representative just congratulated him on his “intelligent” purchase and went his way. A few months later, he ran into the online purchaser again. He wasn’t as happy with his policy as before.
It turns out, the online purchaser had been hit in the rear by another vehicle. In order to save money, he had not purchased “Collision” coverage. However, he wasn’t at fault so he thought this wouldn’t be a big deal.
He then received some really bad news….The person who hit him had no insurance coverage at all. Since the online purchaser had been wanting the lowest price possible, he had also declined “Uninsured Motorist” coverage.
As a result, he had to pay for the damages completely out of his own pocket!
Needless to say, he now uses a professional insurance agent to provide his insurance protection.
What good does it do if you actually save 15% on car insurance, but it takes that and more to pay for a claim that would have been covered by a better policy?
For more info about about insurance agents, check out what MoneyTips.com recommends by visiting https://www.moneytips.com/pros-and-cons-of-using-an-insurance-broker-or-agent
You may also find these helpful.
I once heard well-known financial advisor Dave Ramsey on a podcast say something along the lines of “Umbrella insurance is one of the best purchases you can make in insurance.” Now, I’ll be the first to tell you that you shouldn’t always run to a financial advisor or a lawyer when needing insurance advice. However,
Read MoreWhen evaluating or purchasing insurance, coverage over cost should be closely considered. All insurance policies aren’t created equally. I have fallen into the idea of “WOW, you saved me money!!”. Behind that savings, there can be a great sacrifice in the coverage. The question is, Do I get a rental car for a covered loss?
Read MoreAfter a long, dreary day of storms and high winds, you come home to find your neighbor’s tree has fallen sideways onto your house. Many people always wonder what they should do. Do you notify your neighbor first and tell him to file a claim on his insurance? That’s not always the correct course of
Read More