Direct Interception of a Bad Sale?

[RFNAPLES]

I know I have explained coverages on people that it has gone in one ear and gone right out the other. They did'nt understand a word I said, nor did they care. So each situation is very different.

You have quite a list of designations, going for anymore? how long did it get you to get them all?

When a client doesn't take my recommendations, I give them what they want but have them sign a statement similar to:
"Client understands that...but doesn't want same at this time." This is CYA but often converts them to my recommendations.

I have been studying insurance since 1969 and have many other designations in progress but mostly on hold. The school of hard knocks continues to mentor me.

 

[STIBROKER]

I have been studying insurance since 1969.

gtfo.....really........

 

[RFNAPLES]

gtfo.....really........

Yeah almost as long as you have been practicing fire blowing!

 

[saieddie]

Most families have more than one vehicle and since 50% of the losses are probably not their fault, I don't recommend rental reimbursement. Most of my clients have health insurance and AAA therefore I don't recommend med pay or towing.

It's not a matter of trying to get business, but insurance philosophy. It is how I handle my own insurance too.

You had me there until the end. Its going to be different in every state, but in Va. med pay, t/l, and rental are probably the cheapest coverages on the policy, and are usually the least worrisome on getting paid out. I understand the rationale about having health insurance, but most people have a deductible that med pay covers. Unless you have a spare vehicle, who wants to pay for a rental? Even on an uninsured motorist claim, if the accident isn't your fault, your company isn't going to pay for substitute transportation unless you have the coverage.

 

[RFNAPLES]

You had me there until the end. Its going to be different in every state, but in Va. med pay, t/l, and rental are probably the cheapest coverages on the policy, and are usually the least worrisome on getting paid out. I understand the rationale about having health insurance, but most people have a deductible that med pay covers. Unless you have a spare vehicle, who wants to pay for a rental? Even on an uninsured motorist claim, if the accident isn't your fault, your company isn't going to pay for substitute transportation unless you have the coverage.

I understand your position but respectfully disagree and will continue to advise my clients to minimize their insurance premiums (their only known loss), making sure to cover the large risks while not risking more than they can afford to lose. If you dollar trade with the insurance company, odds are you will lose due to the operating expenses and profits of the carriers. Therefore, small risks should be self-insured/managed.

 

[VaDwayne]

I run into a lot of poorly written policies, usually from direct writers doing whatever they can to be competitive. I refuse to cut corners because they will eventually come back to bite you. I have a non standard auto agency in my office building and I send the cheapskates over there. Those types of clients are not profitable and they are usually high maintenance.

LOTS of poorly written policies:

I am getting ready to write a daycare facility that is currently insured for $310,000 on their facility which is about $45 a square ft. to replace, with a 90 % coinsurance. I have done two estimates and both put the value at $650,000( so they are at 50% insured to value).

There is no abuse an molestation coverage, no D&O for the board of directors, no non-owned for the employees that are using there own car, and their contents is covered for $75,000 when the now have about $150,000. Their Workers' Comp. is in the completely wrong class.

They said that they haven't seen an agent in 10 years...

 

[b61mack]

the op did the right thing, he listened, and when the time was right, explain what his opinion was. good find vaDwayne, remind them of the mc martins..

 

[VaDwayne]

the op did the right thing, he listened, and when the time was right, explain what his opinion was. good find vaDwayne, remind them of the mc martins..

I will, very good advice. Thank you