What is your insurance company doing for you?

So obviously I talk to many people daily about insurance and finances. I am consistently reviewing coverages to determine if they have a good deal currently and if I can help them better their situation. Here are a few things I notice on a daily basis:

-- People don't know what their insurance coverages are. Do you know what your current Automobile coverages are? Did you know that the minimum requirements in the State of Texas are about to go up? If you were to accidentally hit the Lexus SUV with a mom and her kids, would you have enough coverage? One bit of advice...never have only the minimum coverages. Please. Also, it doesn't cost much at all to add on Uninsured Motorist coverage...just do it.

-- People tend to shop way too much on cost and not enough on value. Hey, as I tell most of my clients, we will sometimes beat the competition as far as price goes and sometimes we won't. For those who end up nickling and diming me as far as the rate is concerned, I tend to just say thank you very much and good luck. I can understand if someone doesn't like a higher rate when you are paying 4 or 5 hundred more per year, but when someone is shopping a rate around to better it by a few bucks, it makes me question what is really important. Remember, you get what you pay for...that is the same in insurance as it is anywhere else.

-- People tend to put more important into their auto or home insurance instead of life insurance. Why? Do you really have enough money right now to take care of everyone if you were to pass away? I'm not talking about in 10 or 15 years when you've supposedly decided to take the money and invest it. I'm talking about right now... If you don't at least have a term life insurance policy to cover you right now while you are building your nest egg...you need to get one.

-- More and more right now are forced to call into a phone bank in another state when it comes to customer service or claims. Most companies have these call centers, even the big ones and the most respected ones, but are you with a company that doesn't also have local service? If so, you need to re-look at the situation. Is there claims and customer service close by? I know with us, I can sell someone in Houston or Dallas (I'm in the Austin area) and they can be helped customer service wise by a team of service people right in their area. That's important.

-- People sometimes stay with a company because they feel a loyalty to them. Loyalty is good, especially when it's deserved. If that agent is a great help, contacts you consistently, helps when needed and the service has been good...it's a good thing to have this loyalty. Unfortunately many have loyalty based on length of time with the company as opposed to actual service. Just because you've been with XYZ Insurance Company for 20 years doesn't mean they care more about you than they do the guy whose been there only for 5 years. Be loyal when it's a smart decision for you personally.

Let me know if I can answer any questions for you. Thanks!