Agency Blog

As Independent Insurance Agents, We Offer Real Options

As a consumer, you should only expect the very best from your insurance agency. If you only look at the products of one insurance company, how sure can you really be that your policy is the best? When you work with an independent insurance agent, you have real options. This way you know you’ll be matched up with the best insurance company for your needs.

Compare All Your Insurance Options

Different insurance companies offer very different product lines. To find the right coverage at the best price, you need to carefully review all your choices. But who has time to drive to or call every agency?

With an independent agent, you don’t have to. These agents sell products from multiple insurance companies. In one meeting, you’ll compare the rates and coverage terms of nearly all your different insurance options. This way you’ll be able to find the best insurance without wasting your valuable free time.

Smoother Transitions Between Different Insurance Products

Your life is always changing. Your insurance needs to keep up. The plan you put together today could be completely inadequate a few years down the road. As time goes by, you might need more coverage for a growing business or family. Later on, you might also be able to qualify for new discounts or could be better off with a new line of insurance.

When you only work with one insurance company, these changes can lead to problems. Since each company can only offer so many products, your old company might not have suitable options for your new situation. In some cases, your insurance company may end your coverage altogether because it doesn’t want to deal with your new risk level.

With an independent insurance agent, you will never have these problems. Since the agent represents multiple companies, you will have access to a variety of options that may meet your needs. If your current company becomes a poor fit, you can immediately switch you to a company that works.

The advantages of an independent agent over a non-independent agent are quite clear, but are they enough for you to consider switching agencies? How do you think non-independent agents can compete against this type of insurance agency? Let us know what you think.

Want to learn more about independent agencies? Contact our Amherst, New York, office to find out how we can help you.

Does Everyone Need an Umbrella Policy?

Have you asked yourself if you should have excess personal liability insurance, more commonly known as umbrella insurance? If your assets or income potential exceed the limits of liability coverage under your home insurance or auto insurance, the simple answer is, yes.

Your umbrella policy begins to pay when your other liability policies are exhausted, or if you are sued for an action such as slander or libel that is not covered under home or auto insurance.

Typically umbrella insurance is a great value. Adding this coverage to your package can cost just a few dollars a month, for which you receive $1,000,000 or more toward legal expenses and damages if you are sued.

Who can benefit from umbrella or personal liability protection?
• Business owners: While your business insurance likely offers a great deal of protection for your company’s interests, you may be held personally liable for any losses or claims not covered by your business policies. Adding a personal liability or umbrella policy to your coverage plan can help you address any lawsuits or claims.
• Parents: Despite our best efforts as parents, children do not always make the best decisions. If your child makes a mistake that leads to another party’s injury or loss, you may be held responsible for their damages. Umbrella insurance enhances the protection offered by your home and auto policies, and significantly reduces the chances of out-of-pocket expenses in the event of another party’s loss.
• Professionals: Individuals who offer professional services, including doctors, lawyers, architects, teachers and others are often exposed to liability from clients who feel they have been misrepresented or misled in some way. Adding a personal liability policy on top of existing business insurance coverage is important to avoid uncovered losses and out-of-pocket expenses in the case of a lawsuit.
• Wealthy families: Unfortunately, individuals and families with wealth often become the target of frivolous law suits. Such legal action can be very expensive – umbrella policies offer protection against these expenses, and may also cover the costs of adverse judgments.
• Property owners: Property ownership opens you to a wide range of liability. If a visitor to your commercial or residential property is injured, you may be held responsible for their losses. Umbrella policies offer protection against these costs, and provide the financial assistance you need during ongoing legal proceedings resulting from such an incident.

Do you carry an umbrella policy? Have you thought of how you will handle expenses if you are sued?