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Started By
Message
re: Insurance agent cost me thousands
Posted on 2/8/24 at 7:23 am to nola tiger lsu
Posted on 2/8/24 at 7:23 am to nola tiger lsu
quote:
this seemed like an agent error.
You seem to not know shite
0
Posted on 2/8/24 at 7:30 am to chinhoyang
quote:
file a complaint with the insurance commission.
Another one
Posted on 2/8/24 at 7:49 am to DCtiger1
quote:
Correct. We also don’t have Uninsured motorist coverage for property damage, only BI
incorrect, Collision coverage, or if you chose not to have collision uninsured motorist property damage covers your vehicle( UMPD up to 25k with a $250 deductible) should you get into an accident should someone with insufficient limits or no coverage hits you.
This post was edited on 2/8/24 at 7:52 am
Posted on 2/8/24 at 8:07 am to deathvalleygrassmmmm
We don’t have that in Florida. You would have to file under your collision coverage and pay your deductible. I’m not talking about LA. Follow along
Posted on 2/8/24 at 8:20 am to chinhoyang
What’s you auto liability limits?
Posted on 2/8/24 at 9:14 am to deathvalleygrassmmmm
Come back and explain yourself
Posted on 2/8/24 at 10:12 am to DCtiger1
quote:
What’s funny is you think insurance rates are controlled by agents and are somehow negotiable.
Perhaps negotiable is the wrong word, but you get the point. Insurance comapnies do not make assumptions in your favor and they assume you are too lazy to shop.
One has to be very pedantic with an insurance agents in regards to what one is insuring, the value and coverages, and goals for risk mitigation. I've saved my business a lot of money by correcting assumptions and reframing the classifications of what we do.
One also should shop every few years. Are rates negotiable? Not really, but an independent agent can compare policies and premiums from different carriers and find you a better deal. If you have a captive agent you can shop him and you should.
Posted on 2/8/24 at 10:22 am to tadman
As an agent, no one is assuming anything. If you want to leave to save a buck, so be it.
This is a pseudo intellectual attempt at saying you go for the cheapest coverage at levels you think are reasonable, because you don't value advice from someone in the industry that deals with claims on a daily basis, and that's fine.
however, there are millions of customers that care more about coverage and value than price.
I can't do anything about rate, but I am always happy to review coverage and make sure it's the right fit. In today's world, almost everyone is underinsured somewhere in their portfolio. If price is the only concern, I recommend those customers shop around. 9/10 they end up coming back.
quote:
One has to be very pedantic with an insurance agents in regards to what one is insuring, the value and coverages, and goals for risk mitigation. I've saved my business a lot of money by correcting assumptions and reframing the classifications of what we do.
This is a pseudo intellectual attempt at saying you go for the cheapest coverage at levels you think are reasonable, because you don't value advice from someone in the industry that deals with claims on a daily basis, and that's fine.
however, there are millions of customers that care more about coverage and value than price.
I can't do anything about rate, but I am always happy to review coverage and make sure it's the right fit. In today's world, almost everyone is underinsured somewhere in their portfolio. If price is the only concern, I recommend those customers shop around. 9/10 they end up coming back.
Posted on 2/8/24 at 10:32 am to DCtiger1
Completely anecdotal, but I find people put too much into content and not enough into structures. You don't need to pay for your wife to redecorate the house
Posted on 2/8/24 at 11:00 am to jmarto1
People that look to save a buck somewhere on insurance aren’t actually saving that money, they are spending it on something they prioritize more. Hunting, fishing, cigarettes, travel, alcohol, a new pool, etc etc.
Posted on 2/8/24 at 11:29 am to DCtiger1
quote:
alcohol
and that is a big one there. Same people who complain about the price of gas don't bat an eye about 10 drinks a night
Posted on 2/8/24 at 11:34 am to DCtiger1
quote:
What’s you auto liability limits?
no comp or collision
$1,000,000 on liability
Posted on 2/8/24 at 11:36 am to chinhoyang
Posted on 2/8/24 at 11:42 am to Im4datigers
quote:
report him to the insurance commissioner
No idea how Louisiana works, but in Arkansas you can file a complaint online. I had to do it once when someone hit me and the person at fault's insurance adjuster wouldn't call me back. After I filed a complaint with the insurance commissioner's office I thought the adjuster was going to personally write me a check that day, bring my favorite bourbon to me, and mow my yard for me.
My brother in law had to file a complaint with the insurance commissioner's office many years ago and had the same type of experience.
tl;dr: file a complaint with the insurance commissioner's office and that will get action going.
Posted on 2/8/24 at 11:45 am to boosiebadazz
quote:
Decent chance he didn’t remit your premium and pocketed it instead.
I'd bet money on this being the case. My trashy SIL was running a similar scam for a bit when she was selling insurance.
Posted on 2/8/24 at 11:52 am to IAmNERD
quote:
I'd bet money on this being the case. My trashy SIL was running a similar scam for a bit when she was selling insurance.
the OP already admitted there was never an actual lapse in coverage
Posted on 2/8/24 at 11:55 am to chinhoyang
quote:
no comp or collision $1,000,000 on liability
Do you live in Michigan? That sounds like a Michigan policy.
Their system is so fricked.
Posted on 2/8/24 at 12:37 pm to DCtiger1
quote:
Insurance agent cost me thousands
As an agent, no one is assuming anything. If you want to leave to save a buck, so be it.
BULL. shite. Time 1000. Buddy I have bought insurance for myself, my company, etcetera. I have to watch yall like a hawk. I have had to write letters and, as I said, be incredibly pedantic and teach your underwriters as if they were small children, until they understand what we do and how to classify the activities. I have had to be very specific about where the risks lie and where my vendors have their own E&O policies versus where we create the intellectual property and make product and bear the risk. Y'all were just happy as a clam to pass the info along, not ask questions, and take the money. Basically I did the agent's job for him.
quote:
This is a pseudo intellectual attempt at saying you go for the cheapest coverage
Yes I'm so pseudo intellectual because I want to not pay for coverage I don't need. Let me ask you something: WHY THE HELL WOULD I PAY FOR SOMETHING I DONT NEED????
Posted on 2/8/24 at 12:40 pm to tadman
You haven’t taught me or my underwriters anything buddy. I don’t employ underwriters, the carriers do. Just like every single profession out there, you’re arguing the exception not the rule. Maybe you should’ve been more selective with who you do business with?
Do you know how many people don’t know what they need until they need it? What a meager attempt at proving a point
Do you know how many people don’t know what they need until they need it? What a meager attempt at proving a point
Posted on 2/8/24 at 3:37 pm to boosiebadazz
quote:
Decent chance he didn’t remit your premium and pocketed it instead.
Folks would be surprised how much that has happened over the years...I owned a insurance agency for 30 years....Back in the early 90s myself and several agents in my area started losing business/clients to another agency...this went on for a good while and we couldn't compete with that agencies prices.
About 2 years later it all came to a head....This owner/agent was pocketing the premiums and giving folks fake policies...He had enough cash flow to pay smaller claims...What finally got him was a total loss on a $500,000 home he didn't have the money to cover. Then his clients started calling the insurance companies they thought they were insured with to find out these companies had never heard of them or their fake policy numbers....My former clients started coming back to me.....Fine with me...I got new commissions.
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