Why is this important?  To become a licensed insurance agent in Michigan, candidates have to pass a licensing exam.  These exams are not easy.  Although I don’t know exact pass/fail data, anecdotal evidence from friends in the industry suggests around half of exam takers have to re-take the exam after additional study.  When I took my exam in 1998, I preceded it with a week long licensing class.  Imagine learning about details of insurance contracts and coverages from 8 in the morning until 5 at night for five days in a row.  Sounds like fun right?  They’ve since come out with alternative options like self study, or self study with a three day classroom review….. but it’s still tough!

Once you receive that coveted license, you are required by state law to take 24 hours of approved continuing education classes, including 3 hours of ethics, every two years in order to maintain your license.  That should be reason enough why our staff is at times unavailable.  But that’s not the important reason.

Insurance is constantly evolving.  Court cases that challenge contract language are popping up right and left these days.  One little word change in your insurance contract could wipe out coverage that you thought was there.  Have you ever considered the difference between the word and and or?  It can be huge when dealing with an insurance contract.  The one way we stay up to date with these changes is through continuing education programs, especially those that go deeper into the insurance vault of details like the designation programs.  The knowledge the instructors convey, and the ability to discuss insurance situations with other attendees, is critical to knowing what coverage issues could pop up, or how to better insure certain risks.  We’re proud that 80% of our staff are licensed agents and very proud that 40% hold designations.

So next time you call and your service person is out of the office, they may just be enjoying themselves at an insurance education class.

As a Trusted Choice agency, we are dedicated to you and are committed to treating you as a person, not a policy.  This commitment means we shall:

• Work with you to identify the insurance and financial services that are right for you, your family or your business and use our access to multiple companies to deliver those products.
• Help you solve problems related to your coverage or account.
• Explain the coverages and options available to you through our agency, at your request.
• Return your phone calls and e-mails promptly and respond to your requests in a timely manner.
• Provide 24/7 services to our customers, offering any or all of the following: Emergency phone numbers, internet account access, email and call center services.
• Use our experience and multiple company relationships to customize your coverage as needed.
• Commit our staff to continuing education so they may be more knowledgeable in serving you.
• Treat you with respect and courtesy.
• Conduct our business in an ethical manner.

We pledge this to you, our clients and ask that you let us know if we fail to meet our commitment, so we may take corrective action.

www.trustedchoice.com

For my first post, I want to define the method of delivery for insurance products.  There are three main ways to purchase insurance.  You can go direct to the company.  There are companies that market online, or on tv, that have a 1-800 number to call, or website to click.  They will provide quotes for the coverage you think you need, and will sell you that coverage.  The problem arises if it doesn’t actually cover the assets and risks that you need it to cover.  One of my favorite quotes I heard recently “Saving 15% could cost you everything you own”.  Scary, but true!

The second method of delivery is going to a direct writer.  These are insurance agencies, usually local in your area, that write for one specific company.  They will quote your coverage, hopefully counsel you on the coverages you need, and sell you the coverage you ask for.  There’s nothing wrong with these agencies, but they do have limited options only writing for one company. 

The third, and in my opinion, best way to purchase insurance is through a local Independent Insurance Agency.  Yes, I’m slightly biased given I work for one , but I truly believe it’s the best method … and here’s why.  Independent Insurance Agencies work for you.  They are licensed with several different insurance companies which allows them to search the market on your behalf finding not only the best coverage, but also the best price.  I put price second because it really is a secondary concern.  You could pay $50 a month for car insurance, but if it doesn’t have the coverage you need when you have a claim – that policy you paid for is just a piece of paper. 

Don’t get me wrong – money is important, especially in this economy.  I just read this morning that Michigan’s unemployment level has jumped again to over 15%.  That’s huge!  People need to cut back in order to pay their bills.  There are some things however, that you shouldn’t cut back on - not only because it puts your financial future in jeopardy, but it usually doesn’t save that much money anyway.

If you have concerns about your coverage or your premiums.  Call your independent agent to review your policies.  They are there for you, to help you make the right decisions to protect your future.