At Lindstrom Restoration, we often encounter clients who aren’t sure about their insurance details or coverage. Unfortunately, this can lead to underinsurance or gaps in coverage, resulting in unexpected out-of-pocket costs for restoration. We’ve seen instances where homeowners lacked critical coverage, like sewer backup or sump pump failure, leading to significant financial losses. To avoid such situations, we recommend taking the time to choose an insurance agent that is professional and provides more than just a policy. Here’s why:
1. Personalized Risk Assessment
Professional agents assess your unique needs and risks, offering tailored coverage that ensures you’re not underinsured or overinsured. By analyzing your specific situation—such as homeownership, family growth, or future plans—they can recommend coverage that protects your assets. This personalized approach saves you money in the long run and provides peace of mind knowing that you’re fully protected.
2. Comprehensive Policy Reviews
Life changes, and so should your insurance. A good agent will regularly review and adjust your policies to keep up with significant life events such as buying a home or retiring. They can help you avoid unnecessary coverage and identify cost-saving opportunities, making sure your policies always fit your needs. This proactive approach often leads to cost savings while ensuring proper protection.
3. Claims Assistance and Advocacy
At Lindstrom, we’ve seen how stressful claims can be when homeowners lack an advocate during the settlement process. While agents can’t legally represent you, a value-added agent will assist with claims by guiding you through the process, speeding up paperwork, and ensuring efficient communication with the insurance company. This advocacy is crucial in helping you achieve a quicker, fairer settlement. In some cases, they may even recommend trusted public adjusters or attorneys if you need additional support.
4. Educational Resources and Advice
Insurance policies can be complex, with terms, conditions, and exclusions that are easy to overlook. Agents who provide value-added services empower you with resources like newsletters or consultations to help you better understand your policies. They can also assist in making informed decisions on when to file a claim versus self-insuring a smaller loss and inform you of available discounts that may lower your premiums.
5. Access to a Professional Network
A well-connected agent can refer you to trusted professionals such as contractors, financial planners, and legal advisors. This network can help ensure quality service beyond just your insurance needs. We’ve seen firsthand how choosing unvetted contractors can lead to poor workmanship and even financial losses. A value-added agent minimizes this risk by recommending reputable vendors who can be trusted to do the job right.
6. Enhanced Customer Service
Expect better availability, responsiveness, and personalized attention from agents who provide value-added services. This higher level of customer service makes your insurance experience more pleasant and less stressful. Some agents are even available for emergencies during weekends or after hours, adding an extra layer of support when you need it most.
How You Can Find Value-Added Service Insurance Agents
The simple advice here is to interview agents as part of your vetting process. This will help you determine if they are the right fit for your family. Consider asking the following questions:
- Do you perform annual insurance reviews to make sure we have the coverage and limits we need?
- What is your agency’s usual response time to personal inquiries? Who do we contact after hours or on weekends for emergencies?
- Will you get actively involved in the claims settlement process if needed and advocate for our family?
- Do you have a network of professionals (contractors, electricians, plumbers, attorneys, etc.) that you can refer us to for various services?
By asking these questions, you can gauge whether the agent provides the value-added services you need for proper coverage and peace of mind.
Value-Added Service May Save You More Long-Term
While cost is an important factor when choosing insurance, it should not be the only consideration. An insurance agent who offers value-added services provides significant benefits, from personalized risk assessments and regular policy reviews to claims assistance and access to a professional network. These additional services can enhance your overall insurance experience, providing you with the coverage you need and the support you deserve.
If you suffer a loss, value-added service during the claims settlement process can also be financially wise. At Lindstrom Restoration, we’ve seen many situations where policyholders chose unvetted, incompetent contractors who ended up costing homeowners money by doing poor work or going out of business. We’ve also seen unfortunate cases like a young couple who wasn’t informed by their 1-800 company about the consequences of not having sewer backup and sump pump failure coverage. After spending $28,000 on a basement remodel, they lost it all when their sump pump failed during a heavy rainstorm.
Insurance agents who offer value-added services minimize the risk of such situations by providing vetted referrals to vendors who do quality work and can be trusted. When selecting an insurance agent, consider the long-term value they bring beyond just the price of the policy.
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