Decisions, Decisions: From Whom Should You Purchase Insurance Coverage?

We purchase insurance coverage for everything from the cars we drive to our very lives. We rely on the insurance we purchase to be there for us when life throws us curve balls, helping us pick up the pieces and repair our belongings and sometimes, ourselves. Who we choose to trust with our money and peace of mind matters so that after years of paying our premiums when they are due, we have the coverage we need when the unexpected happens. A Miami insurance recovery attorney from our firm explains what you look for when choosing where to buy the insurance you need to protect yourself and your loved ones. 

Insurance Agent vs. Insurance Broker

Although you often hear the terms “insurance agent” and “insurance broker” used interchangeably, they are not one and the same. An insurance agent represents a particular insurance company, while a broker does not represent any one company. They are able to choose policies from multiple companies. Both agents and brokers hold their licenses to sell insurance. 

When you are speaking with a person that sells insurance, ask them if they are a broker or agent so you will know who they represent and the options they have to choose from. 

Reputation

One of the best ways to determine where you should buy your insurance is through word of mouth. Ask around to people that you know and trust to find out who they use and what their experience has been. Often, some of the best advice is found by speaking with other people in situations similar to yours. 

In addition to the reputation of the agent or broker, you will need to look into the insurance companies the agent or broker represents. Are they highly recommended? What is their reputation in the insurance industry? Are they known for paying claims, or do they have a reputation for denying coverage?

Meet With The Prospective Agent or Broker

Our Miami insurance recovery attorney suggests that you meet with several agents and brokers before making a final decision on who you will purchase your insurance from. When you meet with them, do not be afraid to ask hard questions to learn more about them and the insurance they sell. You may want to consider:

• Their level of experience. Are they new at selling insurance? Are they knowledgeable regarding the products they sell? Check into how long they have been in business, and their financial strength. 
• Do they seem to care that your needs are met? Your agent or broker should be someone that takes a genuine interest in what your needs are and makes sure you obtain the best insurance product that meets those needs. If they are pushing too hard for the sale, and not making sure the fit is right, they are likely not the right choice for you. 
• Do they present you with different options? Your insurance agent or broker should present you with different options that meet your needs. If they do not, they may not be the best choice. 
• Do you like the agent or broker? This may seem like a silly question, but the truth is that you (hopefully) will be engaged with this person for years to come, so it is important that your relationship is founded on mutual respect and that your personalities do not clash. 

Do Your Research

There are many ways to research an agent or broker, as well as the company whose insurance products they sell. Our Miami insurance recovery attorney suggests that you look at their websites, taking note of their history and staff credentials. Search for independent reviews. While all reviews may not be credible, look for trends in what customers have to say. 

Financial ratings of insurance companies should be reviewed as well. Consider looking at Standard & Poor’s, Weiss Ratings, Inc., etc.

In Florida, go to the website of the state’s Chief Financial Officer and review their tips on how to choose an insurance agent or broker. There is even a number listed that you can call to verify that a company is licensed to sell insurance in the state of Florida. 

Look at Credentials

There are many credentials a person that sells insurance in the state of Florida is able to earn. See what credentials your potential insurance agent or broker has completed. Examples include Chief Financial Planner (CFP) and Certified Insurance Counselor (CIC).

Accessibility

Is it important to you that you have actual access to your agent or broker, and that they have an office, or offices, in your community? For some people, it is important to them to have a local place where they can go when they have questions about their coverage. For others, as long as they have some way to get in touch with their agent, it does not matter if they are local or not. It is truly a personal preference. Either way, our Miami insurance recovery attorney states it is a good idea to find out:

• What are the company hours? Are they accessible 24/7? Do they have a protocol in place for emergency situations?
• Are they up-to-date with technology, making access easier than ever?

Speak With A Miami Insurance Recovery Attorney At Ver Ploeg & Marino

Even after putting in the work to discover who you want to buy your insurance from, and purchasing that insurance and faithfully paying your premiums, your claim for coverage may still be wrongfully denied. When this happens, a Miami insurance recovery attorney at Ver Ploeg & Marino is here to provide you with the representation you need to obtain the compensation you deserve. Schedule an appointment with our firm to learn more about our services. 

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