Buying a policy that is too specialized. Be wary of purchasing too-specific variants of broader types of insurance. You may need life insurance, but you shouldn't buy it at the car dealership or travel agent. Consider this rule of thumb: "Don't buy insurance from somebody you went to buy something else from." As your agent we will help you make sure your coverage is appropriate for a broad range of risks.
Not updating your coverage. Call us to help evaluate your coverage whenever you go through a life change, such as childbirth or marriage. Also, it should be done at least once annually. If your home has gone up in value, make sure you increase your policy limits. If you have a replacement cost policy, your replacement cost needs to be more than 80 percent of the value of your home.
Only Comparing Rates. Yes, you should compare rates but its also prudent to take a look at what you're getting for your money. You can check out insurance companies by looking at how they rank with third-party insurance rating companies, such as A.M. Best, Fitch Ratings, and Standard & Poor's. Your agent will also be a valuable asset when you need some help negotiating the maze or understanding what is, or is not, covered on your policy. A discount house may not offer the kind of help we can and do with all of our clients.
Not Comparing Agents. Not all agents are created equal. Loyalty only serves when loyalty serves you too, make sure your agent is taking good care of you. First, make sure your agent is properly licensed, as we are in The Porche Insurance Agency. Second, make sure your agent takes the time to fully understand your specific situation so they can apply all the discounts you may qualify for. Third, make sure your agent explains what you are buying for your money in a way you can understand. We are very proud of the service our agents provide.
Not Knowing Your Insurance Policies. By far the biggest mistake is not knowing what's included and what's excluded on your policies. We take every effort at The Porche Insurance Agency to help you understand your coverage. You need to take the time to read your policy. Yes, its boring but knowing what's in there can be very valuable. Contact us when you have any changes such as starting a new business, or remodeling your kitchen to ensure you're covered to your satisfaction.
Thinking you don't need coverage. Often people start a small business out of their home so don't need coverage or assume their homeowners policy will cover them. A business needs specific coverage that are typically excluded from a homeowners policy. Also, when your business does apply for coverage later it will cost more. A business that has been in operation without coverage will have eliminated itself from "new business" discounts.