Common Mistakes Made When Purchasing Insurance

There are a number of common mistakes some individuals and businesses make when it comes to purchasing insurance. Insurance is the product you buy in case the unexpected happens. Unfortunately, by the time you need it, it’s too late to make sure you have the right type and amount of insurance coverage. Make sure you don’t make the following mistakes while buying business insurance or personal insurance.

Having two agents is better because they keep each other competitive
Having two agents duplicates effort and can create coverage gaps. For example, there are certain coverage’s that can be included under a liability policy and auto policy. One agent is better able to manage your entire insurance program.

The lower the premium the better
Premiums are determined by a combination of exposures and coverage. If you get a lower premium you may be missing needed coverage. For example, does the lower premium include replacement cost coverage on buildings and equipment?

The internet is a great place to get good insurance deals
Low cost internet insurance usually allows you to select the coverage and limits you want. But in most cases you end up with a limited and inadequate program. You find this out after you have an uninsured claim.

Buying from a national company is always better
Don’t listen to the entertaining advertising on TV. Most national agents only represent one insurance company. They can’t shop your account to determine the best combination of price and coverage. We are an independent agent; we represent many companies and search the market for the best combination of pricing and coverage.

Through our relationships with many A-rated national and regional insurance companies, we provide a comprehensive array of insurance products for a variety of personal and commercial clients.