As mentioned in my previous post, I am amazed at the insurance coverages my clients never even knew existed. This challenge goes out to all insurance salesmen to better inform your clients of the coverages and give them examples of why they need it. I know they probably don’t want to pay the extra money and you don’t get much additional commission but it’s your job to explain why $50-$100 extra a year can save them $1,000-$25,000. I have these three things and so should you:
- Personal Injury Protection(P.I.P) and/or Medical Payments (Medpay) coverage- this covers you and all the passengers in your automobile regardless of fault or liability- if you don’t have health insurance this is a must;
- Underinsurance(U.I.M) coverage-exactly what it sounds like, except easier to understand when I explained that it helps cover you and your passengers or family when someone injures them that does not have enough insurance or assets to go after; and
- GAP Coverage& Renters Insurance-both of these coverages take care of your possessions when they are damaged. The first being your automobile that is over financed and not worth what you owe on it. The second for your possessions while renting someone else’s home or apartment.
I can not help you if you are not helping yourself by taking advantage of the insurance coverage that actually benefits you and not someone else. As much as I comment about how I hate insurance companies, they are a necessary evil. If you are able to play the game of insurance successfully you can and will come out on top.