Keep an Open Dialogue with Your Agent to Prevent Financial Disaster
Imagine you’re in the market for a new car when you finally find ‘the one.’ It’s shiny, beautiful and complete with new car smell. It’s got all the bells and whistles. It’s everything you wanted. Better yet, the dealership has promised to take care of tags, titles and insurance.
“Don’t worry,” your sales representative tells you, “just give us your current insurance info, and we’ll take care of everything.”
A month later, you’re rolling through downtown in your new wheels when you get rear-ended at a red light. You call your agent and hear the dreaded words: “That car isn’t insured with us.”
Sound absurd? Oh, contraire – the scenario hasn’t just happened; it’s actually common. Too often, responsible owners of homes, vehicles and property expect that some third party has made their insurance agent aware of their decision, only to find out much later they were never insured in the first place.
The more your agent knows about you – indeed, the better your agent knows you personally – the better he or she can help you avoid such dangerous and financially risky situations. You might be concerned that telling your agent about a change in your personal auto fleet, or how you drive, will mean a more expensive policy. That’s possible. But the reality is, the more you say, the less you pay – if you aren’t paying a premium, after all, there’s probably no coverage.
The rule of thumb is to share everything with your agent. Nearly 80% of our clients do not conduct an annual account review. If you’re part of the 80% who haven’t discussed your life with us in the last year, odds are good your Risk Plan can be optimized.
And, of course, any time you experience any life change, whether you’ve purchased a vehicle or home, had a new baby or lost a job, please let us know immediately.