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 Posted: Mon May 05, 2008 4:06 pm Post subject: |
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| Quote: | | Does renters insurance cover the cost of finding a new place to live? Deposits, transfers etc? |
In most cases yes. It's called Loss of Use/Additional Living expense coverage.
All policies are not the same so if you rent, call your agent and ask for an explanation or just look it up in your policy. |
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Fishman
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| Posted: Mon May 05, 2008 11:13 pm Post subject: |
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| I agree with what everyone is saying. Honesty is the best policy...... |
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lisar1208
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| Posted: Thu May 08, 2008 4:28 pm Post subject: |
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Somehow we came all the way from "Honest and Reliable Insurance Agents" to what's covered under a renter's policy.
How did that happen?? 
From what I've read so far, we've talked about a person's faith and doing everything possible to be honest and open with a client or potential client.
But what happens when an insurance agent makes an "honest" mistake?
A doctor can leave a sponge inside a person during surgery and normally the only thing that happens is that the doctor removes the sponge, then everyone is ok.
A car dealer can sell you a used car with a bad alternator, then fixes the alternator, then everything is ok.
It seems that insurance agent's are held to a higher standard of professionalism than most any other profession. I mean, when an insurance agent makes a mistake, everyone hears about it.
Why is that?
Maze
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InsuranceMaze
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| Posted: Fri May 09, 2008 11:25 am Post subject: |
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| good question, I never really thought about it that way. |
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lisar1208
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| Posted: Mon May 12, 2008 3:02 am Post subject: |
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I think one of the main reason that insurance agents are held to a higher standard is the fact that insurance is an intangible product that people can not see or hold in their hand. This is compounded by the low level of understanding by the general public on how insurance actually works.
The policy documents are many times difficult for many people to understand so they tend to overly rely on a trained agent to give them a general idea on how their policy works when first signing up.
In the situations described above, the evidence of a problem such as my car is a lemon or a surgical mistake, the evidence is right there and evident in fron to everyone to see, like my car I just purchased doesnt work, or see there is a sponge inside of me. It is easier to fix and most people are happy with that. Honest mistake.
When it comes to having a problem with an insurance policy the only evidence is he said/she said. Yes, a crroked agent may have lied about a product, but the policyholder might have misunderstood or misinterpeted what an agent said, so everything is unclear.
I know as an agent that many times I have been with a client describing product benefits and I have seen their eyes glaze over or seem to stare off into the distance. What if they didn't hear something important because they werent paying attention? I have had to deal with this several times.
When it comes down to insurance it is the responsibility of the policy holder to read and understand their policy, but when their policy does not perform to their expectations it is much easier to accuse an insurance agent of being a crook than to admit they cant understand their policy.
mac
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beatuplunchbox
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| Posted: Mon May 12, 2008 8:00 pm Post subject: |
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| Quote: | | When it comes down to insurance it is the responsibility of the policy holder to read and understand their policy, but when their policy does not perform to their expectations it is much easier to accuse an insurance agent of being a crook than to admit they cant understand their policy. |
I'm sure glad you said that and not me, because everyone would have expected it from me. 
People, being people, often hear what they want to hear. For example if an agent tells a life insurance applicant - "If we design the premiums properly in this Universal Life policy and the interest rates stay at least at the level they are now, based on current projections, you can stop paying premiums on your policy after 10 years."
Now, exactly what did the policyholder hear? Well, I can guarantee you that if you call on this person in 10 years, here's what will happen -
"Well, I don't understand, you told me when you sold me this life insurance policy that I could stop paying premiums after 10 years."
This has happened to me.
What does the agent do now?
Maze
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InsuranceMaze
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| Posted: Mon May 19, 2008 6:11 am Post subject: |
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I don't know the answer to that one, except I will be glad to still have the customer after 10 years. (Or still be in the business that long!  )
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beatuplunchbox
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| Posted: Wed May 21, 2008 5:36 pm Post subject: |
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Hi,
This is one problem in insurance selling. Agents would do their best to present the best financial structure of the insurance policy. They would give good points where people can say, "Yes, it is worth to invest my money here." But the truth is, clients would only stick on what they hear is beneficial for them. Most of the time they will not remember any other conditions applied to the policy.
As Maze said on the example above. The client would just remember the quote, "you can stop paying premiums on your policy after 10 years." Not taking into considerations the if's "if the interest rates stay at least at the level they are now, based on current projections..."
To lessen if not to totally avoid this problem, in Insurance selling, agents should make it very clear to the clients that there are conditions applied to the policy. If there are projections, they are only estimates and not fixed values. Maybe insurance agents can discuss more on the beneficial factor of insurance and that is "protection."
Btw... very good question, Maze. It is something that insurance agents would think about. 
Joven
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joven222
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| Posted: Wed May 21, 2008 6:03 pm Post subject: |
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I dont know if its my area or something, but insurance agents are known to take advantage of people. The hardest thing for me is getting in the door. I think agents are lumped into the catagory of Lawyers and Used car Salesman, something to avoid. Good for us that peole need insurance...
As for getting held to a high standard, ya Id agree, but its because we have a professional license...
As for the insurance being a honerable job, the public would say no...
We have people who are Mortgage Protection Specialist now, instead of term life agents.... Insurance have an ugly feel now a days...(in the publics view)
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TheBrokerDealer
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| Posted: Tue Jun 17, 2008 4:37 pm Post subject: |
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| Quote: | | I think agents are lumped into the catagory of Lawyers and Used car Salesman, something to avoid. |
Yeah, this is true. Insurance agents are often times rejected. This is the general perception of most people. Agents are selling insurance not for the purpose of helping but for the main reason of earning. This is the reason why they thought of agents as taking advantage of people.
This might be a general concept but for me, it depends on the agent to sell not only his or her products but first of all he or she should sell his or her self be having a good reputation. I have known of many good people who have succeed in this business because of their willingness to help. Helping is their priority and money just comes in.
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joven222
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| Posted: Sun Dec 04, 2011 11:30 am Post subject: owner not renter |
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i had a policy wrote up for my snowcone business, insurance agent wrote policy up as renter for content 20000. what in the world could be inside a snowcone stand for 20000. the policy should have been wrote on the building not contents. i have 5 policies with this agent so its not like they dont know me, right. true, i never looked over the policy a tragic fire claimed the building a total loss. so when i go to file the claim she tells me she is sorry but i only have content insurance. i tell her it must be just a honest mistake u made on the policy keying it in the system. i am going thru an investigation right now she coherce with her team and they said they didn't take my app. over the phone another guy in the office did . the lady that did my app said she never talked to me. i cant believe they all are lying to keep from paying the claim and i am suppose to have good faith. i will be moving everyone of them shame on you statefarm
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| Posted: Sat Mar 31, 2012 3:13 am Post subject: eAGcHVcLVLpAOAvBT |
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As an agent I answered this qiusteon many times. As others have noted you do get a discount for a monitored alarm system but the cost of the alarm system was never offset by the discount you received. I always advised my clients to weigh the value of their peace of mind of knowing that they had the additional security because the system cost will not be offset by the discount. It is not going to pay for itself.
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haydar
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