Do you know what is most important when considering your Atlanta Insurance purchase?

I have narrowed down the top five things a person or business needs to consider when purchasing insurance or changing their insurance plan:

1. Financial Stability of the Company – This is the most important item on my list. It is very important to make sure that your insurance carrier has a strong financial rating (A- or better). I will get into financial ratings in another post.
2. The ability and timeliness of claims being paid – This sort of goes with number one, because financial ratings will have a lot to do with a companies ability to pay out a claim. Another thing to consider is the timeliness and convenience of when and how claims are paid. Some carriers provide concierge claims centers, others send an adjuster. Both are good, just make sure your company has a strong record of awarding claims fast.
3. How well does the coverage meet your needs? – Very important. Before you purchase an insurance policy, make sure that the agent has explained how and why the selected coverage options meet your needs. Thoroughly review your insurance quote and ask every question that is unclear to you. Having inadequate coverage can really hurt if you ever have a major claim, and having too much coverage can result in spending thousands of dollars unnecessarily.
4. Price and Price Stability – Obviously, price is a major factor in your decision. Be sure however, to consider price stability. How much does the premium change over time? Insurance premiums will always fluctuate… but be sure that you aren’t purchasing a policy just because the price is low. Many companies will make a Market Investment and lower the price to capture a large percentage of the marketplace, than rapidly increase those premiums over the next year or two. Bottom line is important, but DO NOT shop just on price.
5. Level of Service Provided by You Agent – This is my favorite. Make sure your agent and agency are providing you with a level of service that you are comfortable with. Judge this on how quickly you get a response, and how helpful the agent is when assisting you if there is a problem (be it billing OR claim). It is important to find an insurance agent that you are comfortable working with because it is likely that you will be paired up for the long run.

Follow all five of these guidelines and you are certain to make a good decision on your next insurance purchase!

Chris Jordan is an Independent Insurance Agent in Atlanta. Specializing in Atlanta auto, home, life, and business insurance… Chris offers consumers a unique interactive experience by broadcasting live via webcam during business hours. Visit him online at http://www.chrisismyagent.com

Google estimates that 124,000,000 users searched the term insurance in the month of March, 2009. Those searches do not even include those who searched for related terms such as car insurance, homeowner’s insurance or the dozens of other related search terms for insurance.

This tells me two things; first, consumers are using the internet to shop for insurance. This is a no brainer obviously, but 124 million is a staggering number! Secondly, this shows me just how competitive my field really is. The good news for agents is that there is a high demand.

I assume that these searches are split… some looking to actually purchase online and some merely seeking information. My goal is to help users with both. I have a thorough understanding of how the online marketplace for insurance works. If you are interested in learning more, please continue reading…

I am obviously biased here but I strongly recommend that consumers purchase their policy from a local agent (particularly an independent agent) rather than buying online or calling a 1-800 number. Individuals who purchase their policy online most times do not have a solid understanding of every aspect of the coverage. Even if someone does, they are missing money saving opportunities that are not available through a website. Most of the time you end up with an expensive policy that doesn’t cover you adequately. And my beef with 800 #s is this; 90% of the time you are calling a call center in another state. Although these agents are licensed professionals, they are usually licensed in all 50 states. Insurance laws vary by state. The knowledge these individuals have is spread too thin. You need someone well-versed in your state’s insurance laws.

There are also sites that allow you to enter your information and “receive” quotes from several different companies at once. I wont name names here… but I despise these sites. Here is why; you enter your information to get a quote. Instead of instantly receiving quotes (and if you actually do, the rates are normally high… see paragraph above) you will get calls for the next month from several different agents in your area trying to help you. This is because that original website sold your information, as a ‘lead’, to these agents. Many of the sites that capture user’s information are not even licensed to sell insurance. So ultimately, what you thought was going to be care-free comparison shopping becomes a nightmare. It waists everyone’s time involved! You get called repeatedly and the agents who purchase these leads are wasting valuable time calling upset consumers who already made their purchase. The website is happy of course, because they made their money. In summary, this is why I really despise the concept. I have never purchased a lead online and never will.

My solution for individuals seeking insurance online is to use it for information only and then contact a local independent agent when you are ready to purchase. The reason that ‘independent’ is important is that these agents have broad access to the marketplace and can really comparison shop for you. Also, you would be surprised how much faster and easier it is to purchase locally!

I’m biased here too… but I hope that you will give me the opportunity to work with you: I am local, independent, AND I am online!

Thanks for reading and stay safe!

Atlanta Insurance