A couple of weeks ago, one of our summer interns wrote about their most favorite and least favorite insurance commercials. Granted, commercials about insurance in general are not the most exciting, but what message are the carriers conveying?
Some carriers advocate spending 15 minutes to save 15%. Other recommend spending half that time to save money. Still others recommend coming to their site to simply save time. So, let me get this straight. We can save time and money? What about understanding coverages and when the policy will pay?
The insurance carrier that films their commercials in front of the Statue of Liberty employs some very odd methods in their commercials. They use scare tactics about your insurance being increased and not being paid in full for your loss. The consumer needs to take an active role in buying the coverage that is appropriate for them.
When we do protection analysis for current clients and future customers, we review the insurance concepts, the amounts of coverage, the language regarding when the policy will pay, and the other benefits you may enjoy under your policy such as Loss Forgiveness. I don’t have $1.5 billion to spend on prime time ads, but I do recommend that you use an independent insurance agent to help you navigate the challenges of understanding adequate and appropriate insurance protection.