Whether you’re looking to get insurance for your home, car, or small business, you need to make sure you’re asking the right questions. When you meet with an insurance agent, their job is to find the coverage they think is best for you.
However, in order for this to happen, you need to engage with them and tell them everything you can about your circumstances. This includes if you’re planning on making any changes to your living situation, adding new products or services to your business, getting a new car, etc.
For some top examples of insurance questions you should be asking your agent, keep reading.
1. Am I Applicable for Any Discounts?
As a frugal home or business owner, saving money is the name of the game. When it comes to asking the right insurance questions, you need to find out if you have any discounts available to you.
For example, if you have an exemplary driving record, you may be able to save money on your auto insurance. Alternatively, installing a security system at your home or business may also lower your premium.
Some insurance agents won’t come out and tell you about the discounts you qualify for, so make sure you ask.
2. If I Move, What Happens to My Homeowner’s or Renter’s Insurance?
Whether you’re a homeowner or renter, do you know what happens to your insurance coverage if you move? This is an important question to ask your agent. In most cases, your coverage won’t naturally carry over.
It’s important to keep your insurance agent apprised of any major changes you make to your living situation. Most likely, you’ll need to update your information to keep your homeowner’s or renter’s insurance valid. When you move, the value of your home or rental will change, which will affect your policy.
3. How Many Insurance Companies Do Your Represent?
Most insurance agents work for a company that represents or uses a myriad of insurance groups. The agent you’re working with likely has access to multiple companies and their products/policies, which helps them find the best coverage and rates for your specific situation.
One of the most important insurance questions to ask your agent is how many options are available to you.
4. If Someone Is Injured at My Home, Am I Liable?
If someone is injured inside your house or on your property, will you be liable to cover the damages? Will you be covered by your insurance policy if they decide to sue you?
Make sure you ask your insurance agent how much your policy covers in terms of liability. The last thing you want to do is pay for a lawsuit out of your own pocket because your insurance didn’t provide enough coverage.
5. Will My Car Insurance Cover Other Drivers?
Most of us don’t think twice about letting someone close to us drive our car in a pinch. However, what would happen if they got in an accident? Does your auto insurance cover other drivers?
One of the most important insurance questions to ask your agent is what exactly is covered by your auto insurance. Different options and policies cover different events. Ask about the following scenarios:
- Automobile accidents
- Other drivers
- Damage to property
- Damage to persons
- Theft
- Break-ins
- Vandalism
- Medical expenses
- Hail damage
- Uninsured motorists
- Car rentals/replacements
- Towing
6. How Much Is My Homeowner’s Insurance Affected by Where I Live?
If you’re on the verge of moving, you may want to ask your insurance agent how much your premium will be affected by where you live. For example, people who live in higher risk areas for damage from the elements (wind, hail, landslides, flooding, etc.) can expect to pay more on their premiums.
While this may not be the deciding factor for where you move, it may be helpful in narrowing your search.
7. What Do You Recommend?
For most of us, we’re not well-versed in insurance policies or even know what half the terms mean. One of the most important insurance questions you can ask your agent is what they recommend for your situation.
This includes everything from total coverage amounts, extra coverages based on your circumstances, and what deductible you should go with. Sometimes, you can save a tremendous amount of money on your monthly payments by opting for a higher deductible. But is it a good idea?
8. What Kind of Business Insurance Do I Need?
For business owners, asking insurance questions to their agents is vital to make sure they’re completely covered in any situation. Business owners deal with the public and other businesses who have all the reasons to pursue a lawsuit should you cause physical or financial harm.
You need to make sure you’re covered if you default on a contract with another business or personal contractor, if someone gets hurt on your property, or if one of your products or services somehow causes harm or damages to consumers.
However, you also need to make sure your assets are covered in case of theft, fire, or other natural disasters.
9. Do I Have Access to an Agent at All Hours?
You can’t control what time of day tragedy strikes. Whether you’re dealing with an auto accident or a house fire, it’s vital to be able to reach an insurance agent at all times. Ask your agent what their policy is for after-hours claims, incidents, questions, etc.
You may not be able to reach your agent directly, but there should be other sources of information available to you 24/7.
10. What Does My Homeowner’s Insurance Cover?
Lastly, before signing a contract for a homeowner’s insurance policy, one of the most important insurance questions to ask is what all is covered.
For example, if you bring in a new roommate, start a remodeling project, or refinance your house, will it affect your policy? It’s important to know these things in advance, rather than being caught unaware in the future.
Have More Insurance Questions?
There’s no shortage of insurance questions that might pop into the average home or business owner’s mind. And we have no shortage of answers.
If you’re interested in getting a quote or have any other questions, contact us today to see what we can do for you. We offer home, business, auto (including recreational vehicles), renter, and life insurance policies.
