Insurance can be overwhelming for any homeowner, auto owner or business owner. It is easy to get confused about the best Insurance Carrier to suit your needs. What are deductibles? What is Comprehensive Coverage? What Regional Circumstances that effect my rates? What does “Bundling and Save”really mean?
Working with a Local Insurance Agent has innumerable benefits. Local Agents live in your community. They shop in the same stores as you do. They travel on the same local roads that you do. The community in which you live and work is one of the details that effect your Insurance Rates. So a Local Insurance Agent provides invaluable experience.
“A local agent may even know issues relating to certain areas of town. For example, some neighborhoods have a reputation for water pipes backing up or flooding issues, and a local agent will often be aware of those problems and be able to help you customize a policy to deal with those specific, localized risks.”
Travis Biggert, chief sales officer at HUB International Mid-America in Tulsa, Okla.
“For starters, local insurance agents are members of your community meaning they understand the regional weather patterns and concerns homeowners will face with their properties,” Turbeville says.
Bill Turbeville, President of South Carolina-based Turbeville Insurance Agency
By using a local agent you get several valuable benefits that you will not miss by buying insurance from a direct carrier.
- First, you are not alone. Work with an agent who has experience writing policies with a carrier. If a problem arises in a claim, underwriting or billing issue, the agent will have an existing relationship with your carrier and will be able to navigate the process easier with you.
- Second, you are investing in a local business. Purchasing a policy from a local agent does not cost more and many times is less because they have more options available. Local agents live in the area and are resources to understand their communities, and when a catastrophe strikes they will be there to see their clients are taken care of.
- Last, you will have an adviser. Did a pipe break over the weekend and you what to do or if coverage exists? Do you need a local water repair company that will not take advantage of you? You may have other life events like getting married or a kid going away to school that your local agent can review your policies with you and guide you down the best path.
What are some specific things you should take your insurance agent’s advice on?
Insurance Policy Coverage. Find a trusted agent with good online reviews or as a referral from someone you know. Find a local agent that explains the coverage and discusses the pros and cons of electing or rejecting certain endorsements.
What decisions are best left to your insurance agent?
No decision should ever be left to an insurance agent a lone. Insurance coverage is a very personal and is affected by your place or stage of life, family status, location and many other personal determining factors. Only you know what is best for you. Work with your agent to understand your needs and together you will make a good selection on what carrier, coverages, and options you choose.
“Agents have strong foundations in their communities, and are able to assess individual risks and anticipate changes over time, all based on their rich history of the area. They can uncover coverage gaps you may not be aware of that are specific to your neighborhood or city. For example, they might know that a particular area has seen a surge in home renovations, causing the value of the homes to differ drastically within the same neighborhood.”
Shannon Bowes, Vice President of Homeowners Insurance with Allstate says.
A Local Agent that understands the local exposure such as if wind, flood, crime, theft, vandalism, quake, sinkholes are issues.
- Ask the following questions and topics with your agent:
- What does or doesn’t my policy cover?
- What are deductibles and how do they compare with each other?
- Be able to understand the difference between Replacement cost Value and Actual Cash Value.
- Make sure you’re getting adequate coverage (Basic Form, Broad Form, Special Form)
- what can you do to reduce premiums?
- Why you should document all receipts? How are valuables covered?
- How to save by combining policies?
- When and how to file a claim?
Before you start shopping for insurance on your own, consider contacting a Local Licensed Insurance Agent.
