Article Review ‘10 Reasons To Consider Switching Insurance Agents’

By | November 29, 2013

There are many factors that you need to consider when you are looking into insurance policies and there are times when you need to consider changing your insurance agents when they are not taking your needs into account.

10 reasons to consider switching insurance agencies

10 Reasons to Consider Switching Insurance Agencies

You need insurance for items in your life to protect you from the unexpected and unplanned, some of the time it is a legal requirement that you have insurance and other times it is purely for peace of mind.

This article highlights 10 very good reasons when you might need to consider changing your insurance agents. You might feel that the agent that you are working with has your best needs covered but what if they don’t? The article highlights some areas that could indicate that a change of agents is needed.

Under-insured

Many people don’t understand the amount of money that they need to insure to cover the expense of a disaster. This is when they turn to an agent to help them. People rely on their agent to ensure that they are covered for the amount needed if something goes wrong.

This article points out the need for a policy to be reviewed on a regular basis to make sure that the cover that you have reflects the changing of the value of a property. It points out that a person can be under-insured if the value of the amount of the insurance hasn’t increased over a number of years. This could mean that the rate of inflation hasn’t even been taken into account and this could mean you are under insured; it will be devastating and very stressful thinking you have adequate insurance only to find that this is not the case if you need to make a claim.

I would find this difficult to believe that an agent would miss this and I would be worried and I would defiantly look at other possibilities when the policy was due for renewing.

Discouraged from filing claims

This option I think something that is quite common, the agent is trying to protect you from the rise in premiums that you will face when you come to renew your policy. But there must be a point where you have fought for too many claims and you would or should consider moving where you purchase your insurance premiums from.

But you might not get the same from a different agent; they might not care the amount of times that you make a claim, at the end of the day it will be you paying the higher premium and not them.

So, before you jump ship on this one I would carefully think about your options.

Overspending

Is it possible that your agent is charging you too much money? These questions you will need to ask yourself every time a policy is up for renewal. You might be getting the personal service but are you getting good value for money?

This article suggests that this might be the time that you checked what you are getting for your money.  I would be inclined to do this anyway, I always check that I am getting a good and competitive quote. Every company is in business to make money, but it should not be at the expense of you. An insurance agent will make a percentage on the sale of the policy, this is expected but it should still make the quote that you get competitive.

Incompetence

This is my favourite area in the article, and I am sure that you have all been in a situation where you have known more than a person selling an item and how annoying this is. But when you know more than your agent it is time to question if they are in the right business, and whether you should have your insurance with them? It is almost a laughable experience but this is not an uncommon situation, and at the end of the day you are paying for the service so you should expect them to be able to deliver.

Moving away

This article suggests that because you might be planning to move from the area you should cut the ties with your agent. This idea I totally disagree with, if it had been 10 years ago then yes I would have concurred but in today’s market I think it is still acceptable if you like the service that you are getting, they are competitive and they have good internet connection there is no reason why you have to change your agent.

Impossible to reach

This section of the article I would agree with, there is nothing worse than poor customer service. Not only would I be moving quickly I would also be telling the agent the reason for the move, the person you are dealing with might be an employee, and it could affect that person’s job, but on the other hand they are not working for the client or the success of the business. If it means that the next customer they deal with and they have better manners, then you might have saved them their job.

Feeling rushed

If you are giving a person your business then you expect that you are treated with respect and that also means that you are not being shoved out of the door. This for me falls under the same category as above, manners; many people are too busy to talk to a person, to make sure that they have not missed something. If a person feels welcome you don’t know what they might do for you, it could be a recommendation which means more business, or they might think of you when a policy held elsewhere comes up for renewal.

Disinterested

There is nothing worse than a salesperson, once they have a customer sign up for an item that they are no longer concerned about their needs. This is a warning sign for any potential customer that they will not be there when you need them the most. I think that the article is correct in recommending looking for a new agent, sooner rather than later if you feel that your agent is disinterested.

Rate comparisons

It is vital that you are able to check what other companies are offering because this will give a clear indication of the price that you have been quoted if it is too high. As the article points out, many agents are tied to a few companies but this shouldn’t stop them showing you other options from other companies just so you can compare.

But to be honest with today’s ability to check the rates easily yourself on-line I would be tempted to check myself. I would want to make sure that they were offering me a competitive quote and I would be looking at more examples for comparison.

You want to change companies

It is possible that the company that you want to work with is not supported by the agent and if this is the case then moving should not be a problem. I found this suggestion odd, not in the sense that it was wrong but purely because I would question why you would want to change the provider. For me this didn’t sit comfortably and it started me thinking and questioning the article as to why they had included it. The only answer that I could fathom is linking this to a renewal quote and receiving a better quote from another company. But I am not sure, if I am thinking along the right lines.

One thing is for sure it got me thinking about my insurance policies, would I stick to the same agent each year and the answer is probably no, most insurance companies have lower premiums in the first year than subsequent years and so for me I tend to follow these low premiums around. What do you do?

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