A recent study of 930 U.S. households conducted for Trusted Choice by International Communications Research showed that “almost forty percent of respondents are not confident or only somewhat confident, that they have adequate and appropriate insurance coverage for their needs.” This lack of knowledge of insurance coverage may result in consumers making five common mistakes and having inadequate coverage.
Trusted Choice independent insurance agents identify the following five “mistakes” as some of the more common errors they see:
1. Not knowing your limits
2. Disregarding discounts
3. Consider insurance in estate planning
4. Not assessing your biggest asset
5. Taking the cheapest route
The survey also showed that more than one third of policyholders haven’t met with or talked to their insurance agent within the last year. With the New Year in full swing, don’t forget to take advantage of the opportunity to visit with us about your insurance policies.