Insurance is a complicated thing. Everyone knows this. Insurance agents and clients spend hours poring over the details of multiple plans and trying to find the perfect match. However, even if a plan seems to be perfect for a client’s needs, there are some very important questions that should be asked before sealing the deal.
Policies are Picky
Before we talk about the kinds of questions that need to be asked, we first need to understand something about insurance. Policies are picky. It is essential to be on the same page as your policy in every aspect. If not, when disaster strikes, you may not get the help you expect.
For example, perhaps your homeowner’s insurance covers damage caused by broken pipes. When the incident arises that water is backed up, causing the pipes to crack and water to leak all over your expensive hardwood floors, you go to your insurance agent to cover the costs of the damage. However, it is not until then that you realize your insurance policy doesn’t exactly cover all of the damage you expected it would cover.
This misunderstanding would most certainly leave the unsuspecting client angry and feeling cheated out of the thousands of dollars that they fully expected to receive.
Asking the Right Questions
As we see from the scenario above, it is very important for a client to fully understand the policy they purchase. Clients should ask questions about specific conditions and limitations (like their tree vs. their neighbor’s tree). Other examples could include: Are dog bites covered? What if flooding is caused by negligence vs. accident? Am I covered if my car is vandalized vs. in an accident? Etc.
Working with Your Agent
When you are purchasing an insurance policy, make sure your agent takes the time to walk through each line carefully with you. Talk out any points of confusion, clarify wording, and never, ever, assume anything. As long as you and your agent have verbally agreed on the interpretation of your policy, you will be covered based on that understanding.
Here at CNC Insurance Brokerage Services, we sit down with you to carefully review your insurance policies. We want you to understand exactly what you’re getting and what you can expect when disasters arise.
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