I just started a job this week as an insurance customer service representative with no prior insurance experience. I was very upfront about this in the interview. I don’t take the p&c classes until the end of Sept and I am feeling very overwhelmed. I work for an independent agency that works with 8 different insurance companies.
The owner is gone most of the day. There is one lady in the office with me but she has so much she is trying to do that she doesn’t always have time to teach me. And when they are working with me, the speak as if I’ve been in the industry for a long time. They also rush through showing me things because they are busy. I’m upfront if I don’t know what they are talking about and I ask lots of questions but I am overwhelmed.
With no prior insurance knowledge I’m feeling very in the dark. I work in Michigan and I’m looking for advice or free resources to help me learn more about insurance.
I bought condo insurance and condo earthquake insurance through a local agent. The condo earthquake insurance was $188. A couple of weeks later, I contacted the agent about adding $50,000 assessment loss on top of the condo earthquake policy and he quoted me $421.
That seems high considering the base policy was just $188. Also, I found it really weird that he didn't ask for the HOA's blanket earthquake insurance policy (5.6 Mil/15% deductible)
Explore the journey of Dannielle Thomas, who as a small girl, learns what it means to be generous, kind, and compassionate by watching her father – an Allstate Agent. As she grows up, she understands what it means to be a good person, in life and in business. And as an adult, she continues in her father’s footsteps by continuing his legacy of goodness.
Cheap Car Insurance: How to get Lower Auto Insurance Rates. Are you paying too much for car insurance? Obviously we were! Here is how we saved $200.00/month! We did a lot of calling around to Progressive, Geico, Liberty Mutual and finally a big company transferred me to Answer Financial and I could not be more thankful for waiting that additional time for another agent. Between the home and cars, our savings is $200.00/month. We were being charged DOUBLE for the 2018 Dodge Challenger Hellcat Widebody SRT through American Family insurance. We also have a 2018 Dodge Challenger T/A 392 and 2018 Dodge Ram Power wagon. Out of the 3 2018 vehicles the hellcat is the CHEAPEST with the new company we are with now!! Our new insurance agent is amazing!
Claim-Your request to an insurance company to cover an accident or other loss.
Collision coverage-Pays for damage to your car caused by physical contact with another vehicle or an object, such as a tree, rock, guardrail, building, or person.
Commission-The fee that an insurance company pays an agent or broker when they sell a policy.
Comparative negligence-The percent of responsibility that each driver shares in an accident when both drivers are at fault.
Comprehensive coverage-Pays for damage to your car caused by something other than a collision, such as fire, theft, vandalism, windstorm, flood, falling objects, etc.
Declarations page-Usually the first page of an insurance policy. It lists the full legal name of your insurance company, the amount and types of coverage, the deductibles, and the vehicle(s) insured.
Deductible-The amount of the loss that you must pay before your insurance company pays anything. Only comprehensive and collision coverage have deductibles.
Endorsement/rider-A written statement that changes the coverage or details of an insurance policy.
Exclusion-These are the specific things that your insurance policy does not cover or limits coverage for. For example, your policy may not cover certain kinds of dangers, people, property, or locations.
Gap coverage-This pays the difference between the fair market value of your new car and the balance you owe on your loan or lease.
Insured-The person who can receive covered benefits in case of an accident or loss. Also called the policyholder.
Insurer-The company that issues your insurance.
Liability coverage-Insurance that helps pay for the injuries and damage to others from accidents that are your fault.
Limit-The most money that your insurance company will pay for your loss.
Medical payments coverage-Covers limited medical costs for you or others in your car, when you are in an accident.
Non-renewal-This is when you or your insurance company does not renew your policy at the end of its term.
Policy-This is your contract with the insurance company. It explains your coverage. It also states the rights and duties of both you and the insurance company.
Premium-The amount you pay to buy an insurance policy.
Private passenger automobile-Four-wheeled motor vehicles for use on public highways, like cars, station wagons, SUVs, and vans. They must be registered with the state.
Quotation (quote)-An estimate of your insurance premiums based on the information you give to the agent, broker, or insurance company.
Recision-The cancellation of a policy back to its start date. If this happens, the insurance company does not pay for any of your losses, and your premiums are refunded. This can happen if you knowingly gave false information when you applied for the policy.
Subrogation-When one insurance company pays money on a claim, and then tries to get paid back or reimbursed by another insurance company.
Surcharge-An extra charge that is added to the premium by an insurance company. This usually happens because a covered driver has had an accident or moving violation that is their fault.
Uninsured/Underinsured Motorist Coverage (UMC)-Provides coverage for a policyholder involved in a collision with a driver who does not have liability insurance or whose liability limits are too low to pay for all the damage.