5 Questions To Ask Insurance Agent Before Buying Health, Car, Home Or Health Covers

good questions to ask an insurance agent

There are certain questions for insurance agents which need answers. Every probable client must ask these questions before deciding what type of policy is best suited for his coverage needs. Any type of insurance is meant to provide peace of mind to a policyholder as you know that your finances are protected. But the policy selection process is an intriguing one and there are bound to be some roadblocks and bumps during your effort to secure financial security for the future.

The task begins with a scheduled meeting with an agent and before it happens, it is vital that you are prepared. In this blog, we discuss 5 good questions to ask an insurance agent prior to finalizing a policy as under:

1. What is covered in the policy and what is not?

If you aren’t aware of what all is covered under the policy that you are about to buy - medical emergencies, surgeries, post surgery rehabilitation, death, etc. You need to be aware that there is a waiting period from 6 months to as long as 2 years in every policy for coverage to take effect. Hence, this is one of the pertinent questions to ask life insurance agent.

Remember, you will not be able to file a claim if any health related problem springs up during this waiting period. So you must verify whether which medical ailments are not covered in the waiting period. Similarly, if you are thinking of insuring your health, you must prepare relevant questions to ask life insurance agent. Such a move will enable you to make an informed decision on your insurance policy purchase.

2. Which insurance policy will best suit my needs?

It is vital that you research several insurance policy options in terms of the coverage features, limits and even pricing and choose the best. For example, if you are planning to buy a healthcare insurance cover, it is pertinent to ready the following questions to ask your health insurance agent.

(i) Do I need a coverage which is not going to change?

(ii) Do I want coverage for only a specific time period?

(iii) Do I have any type of pre-existing medical conditions?

(iv) Do I anticipate any medical ailment in near term future?

Unless you are ready with the questions to ask health insurance agent, you will not gain any insight into the product that you are out to buy.

The same thinking applies to even auto insurance products as there are numerous companies which sell coverage to insure vehicles. It could be difficult for you to make a choice unless you are aware of the basics of the subject. You can have similar type of questions to ask auto insurance agent if you are out to insure your car as it is also one of your valued possessions next to your home that needs to be financially protected.

3. Is there a grace period if I forget to renew policy?

Timely renewal of any type of insurance policy - health, life, car or home is important to ensure that you maintain continuity of benefits. For example, you can have questions to ask car insurance agent in this regard to clarify whether there is a grace period if you fail to renew the policy on time. Remember, failure to renew your auto insurance policy prior to its concluding date can cause lapse of coverage.

But few insurers may also offer grace period during which you can get your existing policy renewed although you may have to pay a fine. It is still worth the consideration rather than being tagged as a high-risk driver later on and pay substantially high premium. You can have similar types of questions to ask your life insurance agent before buying a policy.

4. Is there any feature for paying premium monthly?

Many auto insurance companies allow drivers to pay premium monthly, quarterly as well as yearly. Even life, health and home insurance providers may offer such type of a facility; you can inquire with your agent before finalizing a policy deal. Among the questions to ask a car insurance agent or life, health and home insurance agents, this should be on top of your list.

A person’s financial situation is prone to change and at times, high interest credit card debts and plummeting finances can lead to hardship situation at home. During such times, it might be easier to manage monthly car, like, health or home insurance payments. This is one of the vital questions to ask your home insurance agent or even agent for health, car and life insurance.

5. What kind of claims settlement record the company has?

Rating agencies rate insurance companies on the basis of time that they take for processing claims. But as a policy buyer, one of the most important questions to ask your insurance agent is regarding a company’s claims settlement ratio for the insurance products that you are thinking of buying. You must also find out whether there is difference between time taken for processing cashless claims and cash reimbursements for different categories of insurance policies. Besides, in case of housing insurance, things can be even more complex.

You must have questions to ask home insurance agent so that you are able to get the right type of policy with enough coverage limits if it comes to settling a claim. This way you can prevent yourself from getting into a financial problem. When you come to know later on that a particular situation is not covered under the policy, you will have to spend money on your own for settling a claim.

Thus, there could be more such questions to ask your insurance agent before you purchase a policy for car, home, life or health.

Many companies online provide help to get cheap insurance policies for homes, health, life and cars. These insurance service providers also assist prospective buyers to fix free consultations with local experts. But are their agents competent to answer questions pertaining to the varied products that are being sold in the market? Well, maybe or maybe not.

To learn more about the type of questions to ask an insurance agent, talk to our competent experts at Prospects For Agents today!

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