AgentSync’s Post

Consumers have access to so much information now. This makes researching the goods and services you're seeking so important as you sift through the details. When it comes to insurance, it is all about what you find in the back of the policy - you know, the stuff written by attorneys, for attorneys. This article is just an example of the a few misconceptions policyholders don't know about insurance. #Flood not being covered by standard policies is definitely one of my biggest concerns, especially when we get the kind of weather events we have been seeing more frequently. My opinion, do your own research so you can be informed but then work with an independent agent to be sure you're not simply price shopping or only looking at coverage limits on the policy declarations. https://lnkd.in/grntrFuk

This, 1000%! To anyone out their dissatisfied with the cost of their premium, "the actual culprit is a bad storm of inflation, litigation abuse and government-made dysfunctions, which have been exacerbated by a string of bad weather." To anyone doubting this truth, if I get my way and litigation abuse abates, I advocate myself out of a job but the world is a better place. Policyholder advocates that argue to the contrary conveniently argue in favor of their own self-interest. For the situation to improve, all stakeholders must recognize that when policyholders litigate inflated claims, they are hurting other members of the risk pool by forcing them to subsidize those claims in the form of increased premiums, which are passed on to consumers. Whether resulting from ignorance or apathy, social inflation will persist until not just insurers, but members of the risk pool and the culture more broadly put a stop to it.

With significant changes made to the Owners Corporation Act which came into effect on 1 December 2021, both owner’s corporations and lot owners need to ensure they are aware of their rights and obligations in relation to the various types of insurance available to protect their interests. Several steps can be taken by lot owners and owner’s corporations to minimise claims and in turn, reduce insurance premiums. https://bit.ly/3PS6FsQ #ownerscorporations #ownerscorporationsinsurance #reduceinsurancepremiums

Insurance advice is really valuable.

Insurance rates are under the same pressure as the rest of the economy, inflation is taking a toll on every aspect of our lives. #propertyinsurance #highnetworth #insurance #insuranceindustry

At the end of the day, the customer you’re helping should be aware of any and all changes to their party—including the increasing of deductibles or the reduction of certain coverages. Talk to your client. Let them know that the market isn’t what it was 10 years ago. Consumers will always be blinded by the increase in price, so it’s your job to help them understand. If they do find a better price elsewhere, make sure they know what to look for when they do get that better price. Specifically speaking, make sure if there were any changes in their coverages—such as their Personal Liability in a homeowners policy or Bodily Injury/Property Damage in an auto policy. Just because this would help the customer save some money does not mean they are properly covered in case of an accident or a claim! Help them understand the importance of proper coverage. Help them understand insurance. 👍🏻

Insurance rates are under pressure - not just in Louisiana - with a multitude of contributing factors. #insurance #insuranceindustry #insurancecrisis

🚨 Breaking News Alert! 🚨 Two more insurance companies, America Insurance Co. and Trans Pacific Insurance Co., have just announced their plans to leave California. They will both withdraw from the homeowners and personal umbrella insurance markets in the Golden State. What do you think about this latest development? Share your thoughts and insights in the comments below! 📰 #Insurance #California #BreakingNews

Have insurance questions? We've got answers! Check out this insightful article from State Farm on important insurance questions to ask your agent. Remember: At Amy Schumaker State Farm, we're here to help you understand your coverage. Let's make informed decisions together! #InsuranceQuestions #AmySchumakerStateFarm https://lnkd.in/gWZxcVWS

Systemic bad faith practices in the insurance industry are slipping through the cracks of regulatory oversight. The recent 60 Minutes report should be a wake-up call for regulators, policymakers, and all of us advocating for a fair and honest insurance system. Will they take action or continue turning a blind eye? https://hubs.ly/Q02RTd6g0 #InsuranceReform #RegulatoryOversight #BadFaithClaims #60Minutes