A More Effective Way To Think About Insurance
Everyone is looking for a good deal on their personal insurance. Many people define a good deal as getting the lowest price, much like buying gas or other products of a similar kind. However, there is a different way to define the best deal in insurance terms, and we think of it as the best value. Let me describe what I mean.
You Are Hiring An Agent Not Buying A Policy
Rather than shopping for low-cost insurance, why not shop for an agent who can help you find the best value for you? Independent agents represent many different insurers. You want an agent who represents many insurers, especially an insurer who have experience with what you need. Allow the agent to market your risk with many different insurers; this is an excellent way to bring value to the process. You want a relationship, not a policy.
Insurance policies are not all created equal. Insurance is not like a commodity; insurance companies offer many different kinds of policies; these offer coverage you may need or may not need. Why pay for insurance you don’t need? Or worse, you paid for coverage you thought you had but didn’t.
This is not about selling you more insurance, but providing the right insurance. We may even tell our clients not to buy insurance.
Ask your agent about their experience and qualifications. Are they investing in extra training and or do they have accreditations?
A good agent will:
- Ask questions
- Educate you
- Bring their knowledge and skills into the relationship
- The will act an advisor not a sale person
- Become a trusted partner
Agents Help Fill The Gap
Many insurance policies are filled with coverage gaps. These are areas where you need certain coverage, but the policy may not provide it. A coverage gap may also be having policy limits or deductibles not designed for your needs. An agent acting as your advisor can help you identify these gaps and offer solutions.
We often use the phrase “you often don’t know what you don’t know.” Our job as your trusted partner is to listen to you, educate you then partner with you in developing the right insurance solutions.
Here Is How You Benefit
- The complex becomes clear. When you have a relationship with the agent who is serving you, they will make the complex world of insurance understandable and how best to manage it.
- Is Insurance the only option? Clients may not always understand that there may be other ways to handle risk. A trusted advisor is in the education business – not the selling business.
- Value-added benefits. With a trusted advisor, you the buyer will have all the resources and knowledge of the agent and his/her team.
- You have access to other experts. Wouldn’t it be great if your agent brought to your team attorneys, accountants, claims experts, loss control professionals and more? Well, a trusted advisor will do just that.
Give me a call and let talk about how we are different and can help you understand your insurance purchase with clarity. I want to earn your trust.