In the modern era, many people are finding themselves shopping online just as much or more than the more traditional approach of going into a store, touching and feeling the item then purchasing it. As busy individuals and families find themselves with less and less time to do shopping the traditional way, the Amazon’s and online retailers of the world fill a much needed void in our lives. I for one, love coming home to the smiling face of the Amazon logo on my front porch. There are some things that just don’t make sense to buy online though-even though they are offered. Insurance, is one of them. Here are three reasons why you should avoid buying insurance on-line or from a 1-800 number.
- WHEN YOU BUY ON-LINE, YOU’RE TAKING ALL THE RISK
When you buy from a .com or a 1-800 number, you’re taking on all the risk. Essentially, you are assuming the liability for any coverages you didn’t understand or thought you had that you didn’t actually have. The liability for ensuring you have enough coverage to protect your assets (home, cars, 401K, future earnings, etc.) from attorneys. When you buy online, the financial future of your family is in your hands. Come claim time, how confident will you be that you actually added all the correct coverages and have adequately covered your assets for the damages you may cause and the medical expenses you may be responsible for? Did you buy enough coverage to replace your income while you cant work due to your injury? Do you have enough coverage to have the best of the best attorneys defend you in a long drawn out legal battle?
- WHEN YOU BUY ON-LINE YOU ARE SOLD ON PRICE AND NOT ON YOUR NEED
Many online companies drive customers to their website or their 1-800 number by advertising price. While price is important and should be a BIG FACTOR, most people would agree that insurance should first and foremost be protection. Adequate protection, the kind that a quality independent insurance agent can offer, is based on building a relationship-getting to know you and therefore what is being protected and what protections are needed. Really difficult to do by calling a 1-800 number. An independent insurance agent worth their salt will ask probing questions to determine what risks you have and what exactly is being protected (your family and assets) and present a plan that meets those needs and your budget as well.
- WHEN YOU BUY ON-LINE YOU’RE NOT LEVERAGING YOUR TIME OR RESOURCES
When you contact a local insurance agent you are employing their knowledge and expertise for almost free. Insurance agents are normally paid a small commission for guiding you through the process of purchasing adequate protection for you and your family. Insurance companies you purchase from price the agents commission into their total price and most (especially if you call an independent insurance agent) remain very competitive in the market. Meaning, you get to leverage the knowledge, expertise (and million(s) in Errors and omissions insurance in the event they make a mistake) for virtually no additional money. Simply said, when you work with a local insurance agent you get all they offer for no more money then you would pay from a 1-800 number or a web based company.
Solution: WORK WITH A LOCAL INDEPENDENT INSURANCE AGENT
When you work with a local independent insurance agent you gain a professional who understands risk, who will advise you on your options and who cares about you and your family. You also gain an advocate so when and if claims ever come your way they work on your behalf to ensure you get every dollar the insurance company owes you.
Want a good referral to a competent independent insurance agent who can help you accomplish all this? Ask three friends who they use, then do a quick google search and read the reviews. This will give you some indication who in your local market might be a good choice.
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