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 Tip #1: Be very careful where you submit your personal information!
There are many online venders that promise you online quotes. If you DO NOT want your phone to ring every 5 minutes for the next month because an agent or telemarketer is calling you from a lead they bought through an online vender read this tip closely! If there is not a direct phone number on that website to talk directly to an agent DO NOT enter your information. Only submit your personal information to websites that belong to an agency. If you give websites that only ask for your information without any way for you to contact them, any information you submit on that site will be sold to other companies then resold to 3-20 agents. Those agents will then call you all hours of the day to sell you insurance. Our site at Insurance Solutions, Inc. will keep your personal information private and only use your information within our agency to deliver to you accurate quotes.
Tip #2: Make sure you are not working with a captive agent!
When looking for an agent/agency to assist you with your insurance needs ALWAYS research until you find an agent/agency that represents several insurance companies products. If the person helping you can only quote for one company, unless you fit into that companies unique market niche at that time you are probably not going to get the best rates available. Always ask for several quotes from any agent/agency. All insurance companies have certain age classes, policy types, smoking preferences, and pre-existing conditions they are trying to either acquire and/or reduce the policies they have in-force with these and other factors. The point being someone with High Blood Pressure may be better to purchase a policy through company X today but in 2-years company Z may better suit that person for premiums and/or riders. Today company X may not have many policies insuring clients with High Blood Pressure so they lower the rates until they have the balance they are looking for then in 2-years they may raise the rates when they have the balance they wanted. Agents/agencies that are active in that area of insurance and represent several insurance companies will know which companies and policies you should apply to so you get the company that is specializing in your insurance needs unique niche today.
Tip #3: All identical policies from the same company will have the same premium!
All policies that have the same coverage from the same insurance company will cost the same! No agent can get you a better price from an insurance company if they are quoting the same options. Many agents say they can get you a better price from a company. They will then lower the benefits in the policy that you will not realize you are losing to make it look like they can get you a better deal on a policy. We recommend avoiding working with agents that use this tactic to make a sale. Also, you cannot save money buying directly from the insurance company. They do not lower the price when they don't pay a commission to an agent. Your policy will be serviced much better if you have chosen an agent/agency that supports their clients, claims and policy questions after the sale. Unlike if you buy directly from the insurance company you only have the choice to work with the insurance company if you ever have any question or policy concerns. Remember an agent that is appointed with several companies will be looking for the best deal for you. An insurance company will not tell you if their competitors have a better price or policy for your situation.
Tip #4: If you are unsure about a pre-existing condition, a company or policies always talk to an agent before buying online!
Even if you prefer to buy your policy directly online, talk to an agent first if you have any questions about a policy. You owe it to yourself to call the agent/agency and ask questions. It is the agent's responsibility to help you understand what you are buying and if it is right for you. We ALWAYS recommend calling and talking to an agent if you have any pre-existing conditions or take prescription medications. Any online quoting software quotes the preferred best rates and will not reflect prices according to your medical history. As stated before all companies treat conditions different. An experienced agent can place you with the right company to apply for coverage the first time. They will also give you a better idea of cost so you are not shocked when the underwriters come back with a higher price than you were quoted online.
Tip #5: Remember you deserve customer service!
Although it is not necessary or even cost effective to have your agent in the same town as you reside. Make sure if you buy from an online company you have the option to talk to an agent and preferably your personal agent. If you call into the agent/agencies phone number and you go to voice mail during business hours all the time or do not receive prompt call backs (within 24 hours) from your agent you may want to find an agent that places a higher value on customer service. Many companies now, don't even take calls from clients instead you must submit an online help request. Not that online help is not good in fact it can be more efficient than a call but you deserve to be able to talk to your agent on the phone if that is how you want your insurance support.
Tip #6: Don't work with a brand new agent.
In most states an agent can take a 3-day course, pass a test and be selling you insurance policies the next week. Although most agents continue their education and go on to be very effective agents in assisting their clients, let them practice on someone else. Always ask how long your agent has been in the insurance field. If they have not been in the field for six-months or more most new agents will not be as knowledgeable as you and your family deserve. Signs you have a newer agent: All calls go to the agents voicemail on his/her cell phone, no direct office number answered during office hours, no 800# to call, the agent is not affiliated with or has not formed a business entity like a Corporation or LLC, the agent can not offer answers to the most basic insurance questions. If you sign up with a new agent that leaves the insurance industry and is not part of a larger agency the insurance company will not reassign you an agent. You will then have to work directly with the insurance company that holds your policy.
Tip #7: Don't be afraid to split your family's policies up with different companies if it gives you better rates!
If the difference is only $10/ month then it may not be worth the hassle. However we have assisted clients in saving anywhere from $50-$400/month by being a little creative on which family members apply to certain companies. This is especially true when it comes to group coverage. Many times the primary insured though a work plan can be inexpensive but to add a spouse and/or child the rates can be 30-100% higher than placing the rest of the family with an individual company. Also for people with pre-existing conditions it may be beneficial to have that person apply for coverage with a company that is better suited for that individual and the rest of the family apply through a different company. Many times in life insurance quotes depending on the type of life insurance being quoted and the amounts even for a husband and wife the same age we will find 2 different companies for each of them to apply with to receive the best rates.
Tip #8: Allow 1-3 months to apply for insurance before you need a policy to go in to effect if at all possible.
Most companies are quick to approve new policyholders once the underwriters have all the information they have requested. However nothing can be more frustrating for an agent and potential insured then doctors not sending records promptly when they requested. You can help speed this process up by contacting your doctor's office and requesting that they send your records as soon as they receive the request from the insurance company. It is also very important for you as the applicant to send any additional paperwork directly back to the company or agent as soon as you receive the request. If the agent or insurance company calls to verify application questions don't be alarmed. It is fairly common to request a verification call and if you miss their call return it as soon as you can. The underwriting process is typically a 1-week to a 6-week process depending on the type of policy you applied for and several other factors. As agents if we have 1-3 months to approve your application and if we do not get the class rating or riders we expected this extra time will let us work for you to apply with another company. This will ensure you get the best policy and rates. If you need insurance to start immediately or with the next 3 weeks, then ALWAYS call in and talk to an agent to make sure we have you apply with a company that can have a coverage start date matching your needs. |
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