Insurance is a hot topic. With healthcare insurance debates raging in Congress and your social media feed it seems like a subject everyone should have an opinion on. There are important distinctions, however, in types of insurance, policies and even insurance companies. Insurance isn’t an offering that can be collapsed into one concept; just because it’s called insurance doesn’t mean it works the same way.
With healthcare insurance taking the lion’s share of our attention, I think it’s easy to assume all insurance adopts the same practices…particularly in raising rates at every opportunity. That simply isn’t the case as it applies to other types of insurance. Despite the requirement for car owners to hold a policy in some states, rates can even go down year to year for policy holders in low risk circumstances and environments.
But being a careful driver in regions that don’t see much hail isn’t the only way to strategize for better insurance rates. It could be something as simple as meeting with your agent twice a year to look at your policy and assess whether you’re maximizing your coverage for the best price, which is a service any insurance professional should willingly perform for his or her clients.
Another way to strategize is to look for unexpected opportunities in alternate policies. Country Financial offers medical coverage in their auto insurance policies that can offer more immediate benefits to their customers who suffer an automobile accident since there is no deductible to pay before coverage. That means in the event of an accident, you pay nothing out of pocket to get the care you need. Another interesting feature of their medical policy is that you could be struck by a vehicle as a pedestrian and still receive the same level of coverage if you opt for it in your plan.
The trick here is knowing what’s out there in insurance offerings and ways to leverage it for the most benefit. So trying to figure out what’s available and how it all works together yourself can be an impossible challenge whereas developing a relationship with a trusted insurance professional could be a great opportunity to address that challenge.
If you need an assessment of your current insurance policy or would like to develop an integrated insurance plan contact me for a free review of your current plan and methodologies to streamline your home and auto coverage