Category: Home Insurance

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Jim Porter San Diego Insurance Specialist Points Out The Questions You Should Ask and The Decisions You Should Make

Jim Porter San Diego Insurance Specialist says “Cost comes up a lot. Ask yourself if cost really is the most important part of buying Insurance.”

Several other questions carry a lot more weight than the cost.

Ask about the Insurance Company that is being recommended to you. Include that in the question about the local agency. Who owns the agency? How long have they been in business? How long have they represented the Insurance Company they are recommending to you? A broker has many Insurance Companies to represent. Some of those companies have come and gone. The ones which have stuck around did so because they treat the broker and their clients well.

Insurance agents are everywhere, so what sets one apart from another? What is their experience? Where else have they worked? How do they handle a claim? How do they describe Customer Service?

Probably the most important question is how much coverage you should have.

The best general answer to that question is that you should have liability protection at least equal to the value of your assets. In other words, look at the value of all of your things; property, money, and all of your other valuables. Add it up; that gives you a really good starting point. Some people think not having a lot of stuff is a good excuse for not carrying much insurance. You worked hard to earn your things, why not protect them adequately. Also, people frequently don’t think of future income when calculating the total value of their assets.

Then there is simply Property Damage Insurance. If you hit and totaled a Tesla or Bentley, and you had relatively low coverage, how would you pay the difference between what your coverage would pay and the actual loss?

Sometimes it is the little decisions we make that come back to bite us. Let’s say you are deciding on the coverage for an automobile policy. You can add rental reimbursement onto an auto policy and the cost will be $30/year. While that policy is in effect if you are involved in an accident and your car has to go to the shop to get fixed the company will reimburse you for renting a car at the rate of $25 per day while your car is in the shop.

Now let’s say that feature is offered but you decide against it at the time of purchase. How will you react when you are involved in an accident and now have to pay for the car rental out of your own pocket.

Have your agent or broker review and explain all of the features in the policy. Make your decisions carefully.

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