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After Recent Storms Agents Show Their Value.

The recent storm and resulting damage have offered a reminder just how important the right kind of insurance can be. It also      re-enforces just how important your agent can be in helping you through the claim process.

People buy insurance to protect their family and financial assets from a loss. So when a loss occurs, most people expect their insurance to step up and take care of the issue.  Understanding insurance and the process involved in designing a policy can help prevent a standard claim from turning into a disaster.

How We Are Adding Value Post Storm

  • Helping clients finding contractors.
  • Offering ideas regarding money clients received from the insurance adjuster.
  • Communicating how the claim process works. For example, why the insurance company only paid a portion of the damage estimate at first.
  • Reminding people that claims are a “process’ of steps, not a one and done approach.
  • Helping to match volunteer disaster relief with clients in need.
  • Acting as a location and resource for internet, meeting space for adjusters and contractors to meet with clients displaced by the storms.
  • Helping clients with a final proof of loss.
  • Providing information on how to present your claim in a way to obtain the best payment based on your coverage terms.

Why Your Agents Knowledge And Experience Matters

Having a well-written policy at the time of a loss will make the entire process easier and more efficient.  Every insurance policy offers basic coverage like coverage for your home and personal property.  A trusted insurance partner will go beyond this and counsel you on how much coverage limits you may need and the benefits of modifying deductibles based on your financial capabilities.

The Value of Annual Insurance Reviews

An annual insurance review can offer time for the client and agent to sit down and determine what kind of coverage is needed based on your unique needs. This has become increasingly important after the recent Memorial Day tornado.

Your policy has coverage limits and deductible that will apply to each loss or claim. We can help you understand how these work and the value to you of adjusting these based on your individual needs.

We help you understand the value of viewing insurance as more than just a policy. It is a relationship with your agent and the insurance company. Your agent can become a trusted partner and help you with many areas of your personal insurance. This involves building a relationship of trust. You will want to have a comfortable, professional

Why Insurance Is Not A Product

No matter how hard television advertisements try to convince you that insurance is a product, it is a service. Some advertisers use animals, actors pretending to know insurance, or wild claim examples to convince you that all you need is a simple internet policy and your problems are solved. They claim that the lower the premium is, the better it is for you.

Low premiums do not equate to the right coverage for you. Do not be fooled by actors trying to convince you that insurance purchased online in ten minutes will respond to a serious accident or injury. These advertisements focus on cost rather than the value of the service purchased. What we should be focusing on is the value of a policy in relationship to a purpose.

The value of a policy in relationship to a purpose

  • Get away from the idea that consumers should primarily focus on the price they are willing to pay for coverage, rather than making sure they have the coverage they need.
  • You cannot cover your risk by arbitrarily choosing an amount you are willing to pay for a policy. You need to make sure that your risk is properly covered.
  • Beware of insurance companies who have brands that claim, “We are the cheapest so we must be the best!”, or “We cover that crazy football party claim (less than .00001% of all claims) so we must cover everything else.”
  • We want our clients to understand the purpose of insurance and the value of the many solutions available.

Insurance Is a Promise of Service

  • Agents should help their clients determine why they are buying insurance.
  • Insurance is designed to protect individuals and businesses from the unexpected. It is important to help clients understand possible implications of actions.
  • Agents need to educate clients on the difference between low cost and value. Office Depot aired an advertisement a few years ago that explains this concept.

Source for some of the information in this article; Timothy P. O’Brien