December 2012

Insuring Against Natural Disasters

Every few years, it seems like a major natural disaster strikes. For many, it’s a tragedy as they might lose loved ones, their car, their home, etc. For everyone else, it’s a reminder of what COULD happen. There’s no doubt that we can’t be entirely protected but insurance does exist to get some level of protection. It’s important to understand that in most cases, basic insurance coverage do not cover “acts of god”, or natural disasters. Getting insurance to protect you from massive flooding, hurricanes and tornadoes does exist but it’s something that you have to shop for separately. According

Wedding Insurance, To Use Or Not?

Weddings, they’re the best day of your life but also the most stressful. So many amazing and memorable moments to look forward to but it sometimes becomes difficult to start thinking about everything that can go wrong. There are a few things such as your significant one not showing up that you can usually (hopefully) get a sense of. Other factors though are much more difficult to control. Some weddings can end up costing tens of thousands and to have to worry about no hurricane making its way to the alter is certainly not ideal. What Is Wedding Insurance? There

Pay-Per-Usage Or “Prepaid” Insurance?

I might be hoping for too much here and I have already made a long serious of requests for future insurance policies but I have one more for today. I would absolutely love to see more “pay-per-usage” insurance or even pre-paid. For example: –Car insurance that charges “per mile”: It doesn’t take a genius to know that this would be very popular. If someone knows he will be barely driving but would like to get some insurance at a decent price, the current system does not really make it possible. I think there would clearly be demand for this and it could

How To Avoid Being Upsold

It happens ALL the time. You buy an electronic item, an appliance and end up buying accessories, insurance, etc. The same happens when shopping for insurance. You start off looking for term insurance and the agent will end up trying to sell you disability, health care, etc. It’s obvious why agents would try to do this. The easiest is getting a client to buy from them. Once the client is ready to open his wallet, trying to sell the benefits of getting other types of insurance is much easier. How The Agent Does It They will start off by being

Why Most Insurance Agents Are Terrible

Last week, I wrote about finding out if the insurance agent or broker was acting in your best interest which can clearly end up being a big problem when shopping around for insurance. Thankfully, I think most of us know to be on the lookout for those. What we aren’t as trained to do is trying to determine if we are dealing with a competent agent. Most Of Them Are Crappy The reality is that that according to numbers that I’ve seen, 92% of agents eventually fail and exit the business. Why is that? Most Agents Don’t Belong In The Business I

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