Business with licensed companies, unless none are available.
Your lender or line holder wil require this information and
may or may not approve of the insurance company your agent
has elected to use.
Never sign blank formas or blank applications. This only
invites mistakes, misunderstanding, and possible fraud. All
applicable questions should be read and answered by the person
applying fro the insurance. Read the form or application before
signing and dating it. If you have questions, ask the broker-agent.
If you cannot get satisfactory answers to your questions,
ask the broker-agent. If you cannot get satisfactory answers
to your questions, it might be wise to avoid signing a document
you don’t understand.
You may contact our Consumer Hot line and ask questions.
Ask for copies for your records: this avoids misunderstanding
at a later date. Make certain that you have in writing and
signed by the broker-agent, exactly what coverages you have
purchased, the name of the insurance company, the amounts
of the coverage, the deductibles(if any), and a copy of your
broker fee agreement (if any). Verbal assurances that “you’re
covered” are quite difficult to prove if you are facing a
claim and have no documents to evidence insurance coverage.
Even the assistance we offer will not allow us to resolve
questions of fact.
But truthful and accurate in your replies to the question
asked, as they will be verified. Omitted or inaccurate answers
will only cause delays, denial, and/or rescission of coverage.
I a broker-agent makes an offer toyou that sounds too good
to be true, it probably is. Ask them to put it in writing
and date it. If they refuse, it might be time to shop fro
another borker-agent. Don’t ask your broker-agent to break
the rules. just this once as you both could be prosecuted
fro fraud against an insurance company. Your professional
broker-agent is there to help you and therefore should have
your best interest at heart.
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