insurance agentThere are a few things I wouldn’t do without help from a professional. I’ve jumped out of a plane, flown a commercial aircraft and sailed an ocean liner. I don’t even pretend to know or want to know how to do any of that by myself. Why? Because I know that there are professionals who have done it countless times under various conditions.

Ok, those are extreme activities. So let’s look at a few simple activities you may not want to try on your own. How about changing your oil, cutting down a tree or repairing your overflowing sewer drain?

Why use an insurance agent?

I asked friends, colleagues and clients why they use an insurance agent. One particular client, friend and even a financial advisor said:

“I use an agent because I do not know the correct amounts of property and casualty insurance (auto, home, business) I should have. I do not trust a computer to tell me. I like a personal approach where an agent learns about my family and then uses that info to tailor coverage to meet my needs.”

A couple of other responses included:

“If there is a problem, they will figure it out for us. Better they argue than me!”

“After watching a family member go through the partial destruction of their home, I understand the value of the agent relationship.”

As an insurance broker, I’ve seen various scenarios where assistance from a professional were, dare I say, desperately needed. Insurance limits can be gravely insufficient based on income or values of real estate. Even retirement accounts can be set up improperly. 

Can you get cheaper coverage without an agent?

Sometimes people leave their agent thinking they can get a cheaper rate by going to a direct carrier or directly to the carrier themselves. When the primary source of communication is via the Internet or telephone, it is sometimes hard to avoid surprises.  A big carrier can’t know you and your needs more than an agent would. A deteriorated insurance score (derived by a credit score), a peppered motor vehicle report or even a teenage driver that was discovered can make getting the right customized coverage more difficult.

When it comes to life and health insurance coverage, there are certainly opportunities to think an agent is unnecessary, such as having benefits at work. More times than not, the life insurance benefits are, again, insufficient. Isn’t it better to at least know if your family suffered that kind of financial hardship you already have planned for them?

Interview an insurance broker

You have nothing to lose by interviewing an insurance broker to review your financial affairs. There are few people who can do certain activities on their own. When was the last time you gave yourself a haircut? There are only a select few people who can do that on their own.

Go out and get yourself a great haircut, and then call your insurance agent. Tell them you want to review all of your insurance policies to make sure you’re on track for a future you create for yourself and for your family. 

Photo: Flickr, Mai Le, Creative Commons 2.0 Generic