Getting the Right Insurance Means Consulting a Professional

insurance professional

Selecting an insurance program solely on the lowest price is dangerous territory. Unlike other products insurance is a “promise” to perform. The product is invisible except for a piece of paper that is filled with tricky language intermingled with double negatives. Most insurance companies and polices are sound but I recommend that you talk to someone that completely understands insurance before you entrust the protection of your assets to an insurance company.

As a consultant, I have been brought into many cases where the consumer did not get the coverage he or she thought was in place. All insurance programs are great – until there is a claim – that is not covered.

Find a knowledgeable insurance professional that will help you choose the coverage and options that are best for you. For instance, if you are the breadwinner of the family make sure that you “load up” on the uninsured/underinsured motorist option on your auto policy. Some people think this coverage is strictly for medical reimbursement. The most important feature of this coverage is the disability award provided in the event that you are disabled by another driver who has little or no coverage to compensate you for the injury. How about all those exclusions under the homeowner policy? Are you aware of them? Did you know that many homeowner policies are all risk on the structure but not all risk on the contents? If you rent a car should you take the insurance offered?

Insurance is not a shelf product and there are traps waiting for the complacent consumer. Find someone who is available to answer questions like the ones above. Like the old saying goes, you get what you pay for.

The author of this blog, Guy Hatfield CPCU CIC, can be reached at 203.256.5660.

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