When it comes to insurance, it is important to find a good agent that understands and proposes the best solutions to meets your needs. Nobody wants an agent that places their self-interests above ours. Here are some things you should know before settling on one.
1. How suitable are their recommendations?
Over the years, there have been a number of tragic accidents involving aircraft crashing into the homes of people. In 2015, a light plane crashed into a residential area in Tokyo, killing 3 and setting fire to several houses. Not only did victims have to deal with the loss of their loved ones, they also had to face the cost of damages to their homes.
While such incidents are rare, home insurances do offer coverage should it ever occur. Damage from aircraft or any aerial devices, including aircraft debris or articles dropped from these sources can be claimed. If you’re living in an area that coincides with plane routes, coverage for aerial damage may just come in handy for you.
2. What is their advice on policy termination?
Be it a loss of income or better offerings on the market, there is often good reason behind any decision to terminate any policy. Policy termination also represents a window of opportunity for agents to sell other packages. However, a good insurance agent would first point out any potential net financial losses that you may incur, the penalties that can result from early termination, as well as the loss or lack of coverage during the period of replacement.
3. Is your income being considered?
A good insurance agent will consider your income when it comes to purchasing any package. Any recommended new policies should not impact your lifestyle adversely, such as extreme scrimping and saving. While it differs for every individual, a healthy gauge will be to set aside 10–25% of your income for insurance, especially if you’re covering for multiple family members and assets such as cars and homes.
4. What are their communication practices?
Some good practices of reliable insurance agents include checking in on you at least once every 6 months or leaving you a contact number. This is to make sure that they are always available to provide recommendations at different stages of your life, such as when you have purchased a new car or property, or facing a health emergency.