Fast Food. Same day shipping. Instant Results. In today’s world the consumer is constantly told that they can get what they want as fast as they want it. Does the same hold true for insurance? Many companies have started offering a direct to consumer platforms that try to remove the licensed insurance agent from the equation. You can get a quote online in a matter of minutes. The real question is what are you really buying?
Here is just one example. In Arizona the state minimum for auto insurance is $25/50/15. That means you have $25,000 per person, and $50,000 per accident in bodily injury, plus $15,000 in property damage. If you buy this policy online and are involved in a serious accident with an SUV, or any late model car you most likely would not have coverage to repair the other persons vehicle, let alone the medical bills resulting from an accident. They could come after you personally for the difference. If you realized that you could have bought limits of $100,000/300,000/100,000, or higher, you would be better protected, and your personal assets would have a much larger wall of protection as well.
The above example is very basic. Add in multiple cars, multiple drivers, a house, boat, ATV, a home business, a small business, an employee. The list goes on and on. The more assets we have the more we need to transfer the risk we face in order to protect those assets. A proper insurance policy is one way to do that. It does not matter if it is an auto and home policy, or a large commercial package, the value an insurance agent can bring to the decision making is crucial. Educating and consulting a client on risk exposure and proper limits are just two of the many benefits of working with an agent.
Most people look at insurance and scratch their heads. It can be confusing. This is where the value of working with a licensed insurance agent is crucial. Insurance agents have the education and expertise to navigate the legalese of an insurance policy. They are required to take licensing classes and continuing education. They are here to consult with the client and help them understand their risk and what is the best way to protect it. Things like increased limits of liability, personal umbrellas, and even understanding how different deductibles can affect a rate. Working with an insurance agent can help you get the answers you need in order to make an informed decision.
So the next time you see a commercial promising you great rates by going online and getting a quote just remember to ask yourself, “What am I really getting, and does it protect my family and my assets?” You may want to reach out to an insurance agent to help you get the answer. We are far from being extinct.