MrInsurability April 29, 2016 No Comments

Neglecting to Tell Your Agent about Life Changes

MrInsurability.comSimilar to the section on Not Updating Your Coverage, consumers jeopardize their coverage when they fail to report important changes, such as moving and renting out their home or letting a younger driver operate their motor vehicle.

Insurance is underwritten based on your circumstances at the time that you purchase the policy. If those circumstances change and you fail to notify your agent, you may not be covered if and when you file a claim. Sometimes even a seemingly small change makes a big difference.

Your insurance needs will always change over the course of your life. When you marry, when you have children, when they move away from home and when you retire, are just a few of the everyday events that will affect your insurance needs. Be sure to keep your agent informed of these changes.

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!