Masters of Financial Insurance

Insurance can be a very wide ranging subject. Chances are you have a handle on some of it, be it your health insurance, Auto, life, Home, Annuity, even the travel protection you seem to know so much about when booking those fancy vacations. The fact is no one has the best handle on everything, but if you want to master your situation here are a couple of items to look at and you’ll be off to leading the conversation during the next couples dinner.

1. Schedule -Each policy renews differently during the year this can be good and bad. Make sure you know when these renewals happen and pencil out 10 mins to go back over the coverage’s with your agent so you know what you a covered for.
2. Risk Adverse – Don’t be afraid to ask you agent questions like what insurance companies don’t like when buying a home, which zip codes in my city get the most favorable rates, or I saw a two cute puppies for my kids last night and i think i will get one of them tomorrow. These simple questions can turn into 30 mins conversations so never be afraid to ask you agent, that’s why we are here.
3. Claims – Some customers know all to well, the dreaded should i place a claim. We’ll often times by the time you call and ask after a peril has happened it’s too late. Ask up front when writing your policies, Mr.Agent Before I put in any claims how much damage should I expect to repair at my own expense.
4. Deductible – This leads us to conversation of deductibles. They are not the same for everyone and there is no one size fits all. Say you have always had a 0 claim history and have no interest in putting in any claims whatsoever unless their is significant financial impact. Insurance companies do recognize when customers put their money where their mouth is and pass generous savings onto you.
5. Shop – Insurance shopping sometimes can be worst than following the wife around at the mall….That’s where brokers come in don’t be afraid to mix it up and little. The same way to have different auto and health insurance companies you can sometimes benefit from allowing your broker to find the best cost policies from any carrier.
6. Prioritize – Remember insurance can overlap. Make sure you utilize the timing of coverage from one policy to the next. Wasting days overlapping coverage can add up.