Mar 01
Don’t Get Scammed On Your Insurance
It’s easy to believe the lowest quote you come across when searching for your insurance but this is not an industry in which you want to take the ‘cross your fingers and hope for the best’ approach. Insurance is big business and there are scams a plenty to cash in on it. Don’t be their next victim.
First, start with the company or the underwriter behind the provider offering the policy that you are considering. This is who is actually insuring you. Make sure that they are actually supporting the company and policy who is claiming them. Call the headquarters to be sure, and call the insurance department in your state.
Then check the business practices and integrity of the underwriter. Standard & Poor’s and A.M. Best ratings are a good way to do this. Some new underwriters are too new to be included in this list. Not a good sign.
Next, check on the company offering the policy you are interested in. If it claims exemption from state regulations, check with your state insurance department. Ask for references so that you can find out quick they were on paying claims, if they honored claims at all. Check with the Labor Department Office of Investigations.
Bottom line is that anyone can make any claims that they like on their Web site or promotional literature. It’s up to you to wade through all that and check out the regulatory agencies behind them to see if it’s true or not before you find out the hard way.
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September 25th, 2007 at 2:37 am
A vital purchase like insurance, which leads to so much information being shared with the company, simply must be approached with the due diligence mentioned in this posting. Not to do so is to leaves oneself open to the possibility of fraud and other substantial problems down the road!
Jerry
http://www.leads4insurance.com