There are a lot of insurance agents out there, but are they reliable or scamming? Here are some things to look for.
As a potential client, you’re fully entitled to see credentials, testimonials, and other information that would confirm the professionalism of the agent you’re working with. If the insurance agent gives you vague background information or isn’t willing to provide their professional credentials, this could be an immediate sign of a scam. Your health and money are far too important to simply take someone at their word. Take the time to research the insurance agent. Be sure that they are reputable and have the options that are most in line with your needs. The more you know, the easier you’ll be able to identify dishonest insurance agents.
It’s only natural to push a sale, but if you find that an insurance agent is overly aggressive, this may indicate that they’re only interest is in themselves. When you hear things like “this offer won’t last for long”, or if the agent is pressuring you to buy a policy you haven’t had the chance to validate, it’s time to walk away. Don’t feel bullied. Insurance is an investment, it’s understandable that you may need time to consider options. If the agent doesn’t respect this, you’d be better off working with an agent who will.
Be Wary of Writing Checks to Individual Insurance Agents
If an agent requests a check made out to them personally, this should be an immediate warning sign that the agent is selling you a scam. Premiums are paid to the insurer, not the agent. This is also why dedicated research is so important prior to even meeting an insurance agent.
Be Aware of Unethical Practices
Familiarize yourself with some of the ways a dishonest agent might prey upon your lack of insurance knowledge. Insurance churning is a common malpractice. While not necessarily illegal, a dishonest agent may try to convince you to purchase additional insurance that you don’t actually need. While it’s perfectly reasonable for an insurance agent to suggest an improved policy, be sure that the policy is in-line with your goals.
Take full ownership of your policy. If your insurance agent gives you additional coverage that you didn’t ask for, which is called ‘sliding’, make sure to address this immediately. You should always have the final say on what your policy contains. This extra coverage could actually inflate your premium, meaning you’ll pay more. Therefore, it’s important for you to go over the details of your policy and know what coverage may be included in a package. If the agent omits information, this is a sign of dishonesty.
Be aware of the costs or risks of a policy. An honest insurance agent will be fully transparent, telling you how the policy works, what’s covered, costs, and other key details. When an insurance agent doesn’t disclose such information, you risk investing in a policy that really isn’t the best fit for you. Make sure to research the policy yourself and ask questions. See how the agent answers, if he evades or doesn’t answer completely, seek an agent who is upfront and knowledgeable of policies that can benefit you individually.
Seek Reputable Agents
At Freedom Insurance Agency, we value our reputation for having integrity and working with highly competent agents. Our goal is to not push policies but to work with our clients in securing the best insurance policies to fit their needs. If you have any insurance needs or questions, please reach out to us and let our qualified agents help!