3 Tips Max Out Your Insurance Value in 2021

The end of the year came and went. You spent time reflecting on the past year of your life. You probably looked forward with excitement over some opportunities coming your way in 2021. You may have read articles offering advice on how to keep your new year’s resolutions.

The end of a year signals a fresh start ahead for our health, finances and general fulfillment in life. We focus on the big picture to plan a better year to come.

We are not experts on keeping resolutions or preparing health meals, but we are experts on insurance.  With the right tips, you can leverage your insurance to help you meet your goals for the new year.

  1. Utilize your Independent Agent when you have a claim.

Bradshaw & Weil is an independent agent. When you work with an independent agent you’re often given the information to contact the company directly for claims rather than go through your agent’s office. This can be to your benefit or detriment. It can get the ball rolling more quickly when in an emergency situation, but it removes the middle man and the opportunity to reduce claims and premium increases when time allows you to look at the situation more objectively with the expertise of your agent. Furthermore, your agent can act on your behalf when they are helping you through a claim scenario. Our agents have a deep understanding of insurance and your policy. Keeping us up to date on the process allows the agent to ensure the adjustor is staying on top of your problem and that you are getting the most from the loss settlement.

2. Take advantage of annual renewal reviews.

We call our clients at least once a year to review their coverage. Many times, those calls are sent to voicemail. Few times we receive returned phone calls. We understand that you are busy, but these calls are so valuable to you. They serve as a reminder that your policy is renewing which means a bill will be due soon. But they also serve as an opportunity to make sure your coverage is adequate. We are blessed to have many clients that have been with our agency for many, many years. Unfortunately, insurance coverage, prices, plans and more have changed over the years. Your own life circumstances have undoubtedly changed. We can’t and shouldn’t make changes to your policy without your consent; however, your coverage could be out of date with your current risk which could leave you susceptible to gaps in coverage. You could also be missing out on discounts! Always review your renewal declarations in detail even if you don’t have the time to discuss with your agent. Insurance is not a set it and forget it policy.

3. Shop your current agent before looking elsewhere.

Price is possibly the biggest motivating factor when someone is deciding on whether or not to purchase insurance. We see it all too often. You get a policy renewal in the mail. The price went up, so you start shopping elsewhere. And we get it. No one wants to pay more than necessary for their insurance. Life is too expensive. The problem that arises is that consumers often only take the one policy that increased to the new agent, so they aren’t getting true representation of what would happen if they switch to a new carrier. Talking to your agent first not only gives them the opportunity to see if they have a better market for you, but it also gives them the opportunity to advise you on what you need to look for if you do decide to switch. You don’t want to make a hasty decision and neglect the increased cost from loss of multi policy discount or allow for gaps in coverage because your new agent doesn’t understand or have the full picture of your account.

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