Allstate has it exactly right! As a 25+ year independent agent producer, clients that do not purchase CAT coverage (what should be the essentials) are future problem clients.
The typical client who only buys what is the least expensive, ignoring important (CAT) perils, is a peril amongst themselves. These are the same client types that after an uncovered (unpurchased coverage) loss, will go out and get an attourney, or join into a class action suit to find coverage they failed to act on in the first place.
Allstate is not alone in this. I’m seeing other carriers who are “warranting” their policies to void coverage if a client, for instance carrys “Windstorm” coverage, but fails to purchase NFIP Flood coverage. They have a policy warrant” that states the insured must carry NFIP Flood Insurance and buy up to the maximum limits of NFIP, otherwise the “windstorm & fire coverage” is void.
Sounds strange on the surface, but it makes sense. Insurance companies want clients who want insurance and who take a pro-active (not reactive) stance about proper coverage. It’s the same reason that NFIP has a 30-day waiting period, so that the worst-of-the-worst type clients don’t rush out to buy Flood Insurance in the face of an approaching Hurricane. Its the same reason certain “Windstorm” insurance associations have 15-Day or more waiting periods.
Minimalist type insurance clients who suffer a loss very often become the maximum problem in which large volumes of time and energy are needlessly spent by agents, and carriers in their claims handling departments.
Yes, responsibility lies in the hands of the consumer, but the “good hands people”, like any other insurance carrier, simply want good pro-active clients, with good attitudes about coverage needs.
You are so right! I’ve been in the business for 28 years & the people who nickel & dime you to death always end up eating up all of your time and never follow the recommendations that you suggest for them.
Right now they want cheap, after a loss it always ends up being the agent’s fault that they don’t have the proper coverage.
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deserve each other.
SEEMS THIS INDUSTRY JUST CAN’T BE
STRAIGHT UP WITH THEIR OWN.
IF THEY WOULD USE THE MONEY THEY WASTE ON LEGAL FEES, ADVERTISING, AND CAMPAIGN
CONTRIBUTIONS…THEY WOULD HAVE ALL OF THE BUSISNESS FROM EVERYONE.
THEY HAVE TO ‘GET ONE OVER ON US’,
Allstate has it exactly right! As a 25+ year independent agent producer, clients that do not purchase CAT coverage (what should be the essentials) are future problem clients.
The typical client who only buys what is the least expensive, ignoring important (CAT) perils, is a peril amongst themselves. These are the same client types that after an uncovered (unpurchased coverage) loss, will go out and get an attourney, or join into a class action suit to find coverage they failed to act on in the first place.
Allstate is not alone in this. I’m seeing other carriers who are “warranting” their policies to void coverage if a client, for instance carrys “Windstorm” coverage, but fails to purchase NFIP Flood coverage. They have a policy warrant” that states the insured must carry NFIP Flood Insurance and buy up to the maximum limits of NFIP, otherwise the “windstorm & fire coverage” is void.
Sounds strange on the surface, but it makes sense. Insurance companies want clients who want insurance and who take a pro-active (not reactive) stance about proper coverage. It’s the same reason that NFIP has a 30-day waiting period, so that the worst-of-the-worst type clients don’t rush out to buy Flood Insurance in the face of an approaching Hurricane. Its the same reason certain “Windstorm” insurance associations have 15-Day or more waiting periods.
Minimalist type insurance clients who suffer a loss very often become the maximum problem in which large volumes of time and energy are needlessly spent by agents, and carriers in their claims handling departments.
Yes, responsibility lies in the hands of the consumer, but the “good hands people”, like any other insurance carrier, simply want good pro-active clients, with good attitudes about coverage needs.
Why kill ourselves with these type of clients?!
You are so right! I’ve been in the business for 28 years & the people who nickel & dime you to death always end up eating up all of your time and never follow the recommendations that you suggest for them.
Right now they want cheap, after a loss it always ends up being the agent’s fault that they don’t have the proper coverage.