I Just Got Rolled

[Small Town ND]

I recently quoted and helped a customer Save over $5,000 a year on their current Auto, Home, Rental Dwellings and Umbrella Policy. BUT I didn't save her enough as the other guy.

I would not have been mad if she went with the other guy if he had a better product. But he didn't...

I broke everything down and made sure she was protected with no gaps in coverage.

During the whole quoting process, the other agent forgot one of the Rental Dwellings, she has 13, he quoted 12. He quoted an Umbrella with Auto Owners, Auto Owners only allows you to have up to 10 Dwellings covered under their umbrella policy. Problem #1 she has 13, Problem # 2 he covered 0 of them.

He also told her that he was quoting a $1,000 deductible with a replacement cost of $90,000 for one of the rental dwellings. His actual quote was $2,500 and half of the replacement cost.

I was meeting with the assistant most of the time, because she would not meet with insurance and did not want to understand it. The assistant used my Excel format to break down coverages between the two of us.

Long story short... she went with the other guy. Solely on Price, even though he lied, and left big gaps in coverage.

Ugh, Stupid People Annoy Me!

 

[b61mack]

wait until she has a claim.... she will be suing the new agent...

 

[padthaiforlunch]

Have clients sign an authorization to cancel policy form.

I've done this with life insurance -- sent it to the carrier and no follow-up by carrier or former agent.

Is it really any different with P&C?

 

[infoe]

I told her I hope her daughter doesn't HAVE another claim now that she has not disclosed her as an operator of the car on her new policy...and GOOD LUCK!

That's OK…people like this are not even worth having…and she will get what is coming to her. But it goes to show even when you do things the right way...you still will loose policies and get rolled!

Unfortunately dude SF will cover it if the daughter has the claim...but after that rate the daughter or ask why the daughter was driving and if the agent says was just borrowing the car she won't be added and just have a rate increase due to claim...sucks

 

[Insurance-Guy]

Unfortunately dude SF will cover it if the daughter has the claim...but after that rate the daughter or ask why the daughter was driving and if the agent says was just borrowing the car she won't be added and just have a rate increase due to claim...sucks

Maybe? Maybe not! What do you think the chances are that the undisclosed daughter didn't pull on a clue report? If she has a claim and her daughter is in the HH then the company could deny the claim. Although I agree the would probably pay the claim. Is it worth the chance?

 

[Guest]

I have almost always seen a captive pay for the undisclosed kid driver.

They will then add that kid with the accident surcharge and the rate is obviously outrageous. But the client then moves the policy somewhere else, without the kid listed again, and before the claim shows on the clue report.

I have been tempted to call that carrier and inform them, but never did.

 

[infoe]

I have almost always seen a captive pay for the undisclosed kid driver.

They will then add that kid with the accident surcharge and the rate is obviously outrageous. But the client then moves the policy somewhere else, without the kid listed again, and before the claim shows on the clue report.

I have been tempted to call that carrier and inform them, but never did.

+1

when some of my buddies in low premium low income areas in the same captive company as me first started theyd put so much perfume on crap to get the numbers..not listing a driver with a previous claim was child play..of course they had to play the game at the beginning just to get the apps to get out of the training agent phase...

Sad.

 

[adamboyce]

I guess I'll be reading "the wedge" too. I hate when this happens.

 

[Guest]

I guess I'll be reading "the wedge" too. I hate when this happens.

Gee, thx for telling us what you will be reading in the future....