Consumers Don't Trust Insurance Companies

This from CNN... "One in seven Americans or a member of their family have had trouble with an insurance claim within the past two years, according to a new survey by Money Magazine and market research firm ICR."

One third of survey respondents don't trust insurance companies to treat their customers fairly.

Whole Story Here

Testimonial!

"I have to admit, I was skeptical when we first hired you. I'm quite happy with the work you have done. Thanks for your help."





Al Monier

Executive Director

Rumford Group Homes, Inc.

Flood Insurance

I got another call a few weeks ago from someone wondering if it is common for an insurance company to exclude damage by flood. Answer: yes, quite common. In fact, few property insurance policies cover flood damage. Coverage can be added if you ask your agent for it. Some insurers will add it right to your commercial property insurance. Others will require a separate policy.

Homes are never covered for flood under a homeowner's policy. You can only get flood insurance for your home or personal property through the National Flood Insurance Program.

If you have any questions about your exposure to flood or your flood coverage, talk with your insurance advisor.


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Consider Your Insurance Renewal Dates Carefully

This is commercial insurance advice...

The most popular renewal date for business insurance programs is January 1. The first of July is also popular. The "quarter changes" of April and October first are also busy times for insurance companies. You don't want your insurance to renew anywhere near these dates. Underwriters and agents are scurrying around, trying to renew three or four times their normal workload. Unless you are spending $1,000,000 a year on your insurance, you won't get the attention you deserve. If you currently have one of the above policy dates, consider changing it to a date like February 17. Think about your cash flow. Select a month for renewal when you have money in the bank and time to spend with an agent.

One exception... rarely do I recommend changing policy dates on workers' compensation policies. The experience modification calculation does not respond well to changing policy periods.