MrInsurability April 22, 2016 No Comments

Not Updating Your Insurance Coverage

mrinsurability.comAs time and of course life, goes on, things change. Events like getting married or even divorced, buying a home or an income property, having children, having a child go to college, starting your own business; whatever the event might be, you need to let your insurance agent know.

You should never assume that your policy is fine without making changes, because it’s not. Don’t get caught short!

MrInsurability April 22, 2016 No Comments

Not Buying Enough Insurance

Commercial InsuranceSpeaking honestly, we all know that nobody likes to buy insurance. Especially in today’s economy, we all want to save money. There are a lot of things that you can do with your money besides spending it to cover something that you hope doesn’t happen and may never happen. But, can you put a price on peace of mind?

Truthfully, most people buy insurance because they have to. Many people only buy what is required or absolutely necessary; however, you should always buy the proper amount.
Some people try to save money by reducing their insurance coverage. Unfortunately, if you under-insure your home and ever have to file a claim, you may have to pay a co-insurance penalty. It actually costs less to be properly insured in the first place.

Insurance is really a financial safety net. You can’t predict the future, but you can protect yourself from any unfortunate occurrences.

MrInsurability April 20, 2016 No Comments

Not Understanding the Insurance Policy

homeowners insuranceWords like Full or Limited Tort, Uninsured or Under-insured motorist and First Party Benefits are just a sample of terms commonly used in the insurance industry and on your policy.

Coverage and its options can seem confusing and overwhelming to those not in the insurance business. When discussing policies and their options, be certain to ask for examples of theses various things and make sure that you understand the coverage’s and options that are available.

Finding out what coverage actually means, after you’ve submitted a claim, is probably not going to end in a good experience for you. Be sure to have your independent insurance agent provide you with the answers to any questions that you may have.

MrInsurability April 19, 2016 No Comments

Not Comparing Insurance Agents

life insuranceThe next in our list of mistakes that many of us make when looking for insurance coverage, is one of the most common. It is not talking to more than one insurance agent. The person who works to find you the best policy and price is the insurance agent. Make sure that the agent that you select is properly licensed to give you solid and appropriate advice. You should also make certain that he/she has a good reputation.

If you take the time to get these two things correct the first time, then you are well on your way to having a good experience. Be sure to speak to a couple of agents before deciding and make sure that you feel comfortable with their level of expertise.

MrInsurability April 18, 2016 No Comments

Not Contacting Multiple Insurance Companies

business insurance

Today, let’s look at the first in our series of mistakes that many people make when shopping for insurance coverage. Insurance premiums are based on statistical data that insurance companies collect to try and predict the likelihood of a claim by you.

This information, which each insurance company uses to determine their rates, can vary significantly. Your age, you’re driving record, your credit, where you live, work, etc. are all used to calculate the premium.

Taking the time to contact multiple companies can ultimately save you a significant amount of money. Independent Insurance Agents, like MrInsurability, represent many companies, so one call will usually get you multiple quotes. It’s definitely the best way to go!

MrInsurability April 17, 2016 No Comments

Insurance Buying Mistakes

commercial insurance

Insurance is a way of managing risks. When you buy insurance, you transfer the cost of a potential loss to the insurance company in exchange for a fee, known as the premium. Insurance companies invest the funds securely, so they can grow and pay out when there’s a claim.

Insurance can help you to do things like; own a home, a vehicle, maintain your current standard of living if you become disabled or have a critical illness, cover health care costs like prescription drugs, dental care, vision care and other health-related items, provide for your family in the event of a death, start and run your own business and even take vacations without worrying about how you’re going to afford them.

So you see, insurance does many things and there’s even more than we’ve already mentioned. Disaster comes in many forms; vehicle break down, roof leak, home fire, an automobile accident that leads to a legal action and even someone in the family becoming ill.

Insurance is there to provide protection for yourself, your investment and your business. It gives you peace of mind and you know that if anything happens to you, your family or your business, you will be financially secure. The best course of action is always to prepare for the worst and hope for the best!

Knowing all of that, why then do so many of us not look for insurance coverage in the right ways? Starting tomorrow we’re going to look at 18 of the most common mistakes people make when shopping for insurance. Until then!