| Insurance 101 - Finding The Right Agent | | | | Meet each agent in person. If to this point |
| | | | you have only talked with your potential |
| The field of insurance is complicated and | | | | agents over the phone, insist that any |
| highly specialized. Few people know a lot | | | | follow-up meetings be face-to-face. Do the |
| about it, and most of us find it confusing, | | | | agents appear professional? Do their offices |
| boring, or both. Insurance agents are often | | | | seem well-managed? If not, then these are |
| held in similar esteem to used car salesmen, | | | | factors to take into consideration. |
| and as a result, our insurance needs are | | | | |
| often put on the backburner until it is too | | | | Keep in mind that a good agent will ask you |
| late. | | | | plenty of questions to find the right |
| | | | policies for you. The difference between a |
| Having the appropriate insurance coverage for | | | | salesman and an insurance professional should |
| your various needs is a crucial element of | | | | be readily apparent. |
| financial security, and thus it should not be | | | | |
| overlooked. Finding the right insurance | | | | Don't buy insurance from someone who tries to |
| agent, with whom you can determine what types | | | | guilt you into purchasing more than you think |
| of coverage are right for you, makes | | | | you can afford, or intimidate you with what |
| navigating the complex world of insurance | | | | he or she considers their superior knowledge. |
| considerably less difficult. | | | | In fact, learning as much as you can about |
| | | | the different types of insurance that you're |
| Three Steps To Get Started | | | | in the market for can be your best defense |
| | | | against an agent who is more of a salesman |
| Shop around. Talk with at least five agents | | | | than a true professional. |
| from at least three different companies or | | | | |
| offices. Talk with them about your insurance | | | | Making the Final Selection |
| needs and see what types of coverage they | | | | |
| have in mind. Compare not only the premiums | | | | Before signing the dotted line, it is |
| you will pay, but also the coverage being | | | | important to do a little more homework. |
| provided. | | | | First, review the financial stability of the |
| | | | agent's company. If the company goes under, |
| A good agent will explain things thoroughly, | | | | then all of the premiums you will have paid |
| and it should be evident whether they are | | | | won't amount to anything. |
| looking out for their own interests by trying | | | | |
| to sell you the most insurance possible, or | | | | There are several annual reports on the |
| looking out for you by trying to find the | | | | financial soundness of insurance firms, the |
| types of insurance that best suit your needs. | | | | most famous of which is Best's Insurance |
| Visiting with at least four or five agents | | | | Reports. |
| will make these distinctions clear. | | | | |
| | | | Secondly, check your state's insurance |
| Evaluate. Evaluate the different types of | | | | department for claims and complaint |
| coverage proposed by each agent you meet. You | | | | information on your agent's company. Some |
| should be able to eliminate at least two | | | | companies develop a bad reputation for not |
| agents from consideration right away. | | | | paying on claims, and no matter how friendly |
| Schedule follow-up meetings with the other | | | | your agent is, it is important to remember |
| agents to ask them any new questions you | | | | that insurance is a financial product, and |
| might have. | | | | you and your agent are ultimately involved in |
| | | | an impersonal, business transaction. |
| Also, call the Better Business Bureau to see | | | | |
| if any of the agents you are considering have | | | | While it is important to have an agent with |
| had any complaints against them. If so, what | | | | whom you can get along, at the end of the |
| were the complaints? An agent with a bad | | | | day, your insurance must be a useful element |
| record should definitely be avoided. | | | | in your financial planning. |
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