Make Your Insurance Work For You
Most people haven’t even looked at their policy in detail, let alone read it through front to back. I get it, it can be daunting – they use weird words and “insurance lingo” that just sounds like gibberish. That’s what your agent is for right? Yes… and no. Yes – because we (the agents) are here to provide you with the information you need to make decisions on your insurance to best fit your needs. No – because you still have a vested interest in understanding how you are, and are not covered. Below we’ll outline five simple questions to ask your agent, which will help you get a better understanding of your protection and risks.
Let’s Compare: Smartphones and Insurance Policies
When was the last time you bought a smartphone, only to use the phone for calling? Not for the apps, not for the camera, not the music – or any of those other fancy features? Most likely, you took time to understand how to use it, and download all those apps that compliment your lifestyle.
Just like your phone, you can (and need to) make your insurance work FOR YOU. This means having a general understanding of how your policy functions, what is covered, what IS NOT covered, what is excluded, and your policy provisions. Knowing these seemingly minor details will give you a better picture and mitigate many unwanted surprises come claim time. And that’s where we come in – your agent. Ask these questions to your agent, whether insured through Town & Country Insurance or elsewhere.
- What is covered? What is not covered?
- Are there any exclusions or provisions I should know about?
- What kind of changes do I need to update you with?
- How can I get the best value on my policies?
- What is my premium and what is (are) my deductible(s)?
Take time to understand what you are purchasing! Kind of like that cell phone – you might try to figure it out yourself, read the manual, Google it or ask around for the best apps and tips to make it work for you. Do that with insurance. We are a huge resource, right here at your fingertips! And know, while all Apple iPhone 8 models may be the same, you can personalize it to fit your needs. Unlike cell phones, insurance is not a commodity and is NEVER the same. Each business or person’s unique needs dictate the policy language.
“The intent of most insurers (carrier companies) is to cover what is actuarially contemplated by the premium charged. The intent of most insureds (you) is to cover every event that results in financial loss.” ~Bill Wilson
The quote above describes the different interests each party has, and eludes to the fact that the carrier and the insured’s expectations may not always be met. You want to “CYA” – cover your assets – for every event. The carriers want to cover what policy language dictates. Sometimes the two are not always apples to apples. And after a claim is not the time you want to uncover those differences. It’s up to you to understand what you are paying for, and it’s up to your agent to help you. A good start, in addition to reading your policy language, is asking those five questions above.
As always, we are here to help! Feel free to contact us, or stop in.
Gabe Cessna, CISR – Commercial Lines Agent in Hinckley