I am renewing my automobile insurance. What questions should I ask my broker?
Insurance brokers have an obligation to explain the types of coverages available to you so that you can make an informed decision. Insurance policies should not be treated with a one size fits all approach. There are optional benefits available that will provide additional benefits and higher level financial compensation if you are involved in a motor vehicle accident. The insurance coverage you are buying should fit your
Often times I see clients who are under insured given their particular situation or who lack a specific type of insurance altogether. It is very important to sit down with your broker to review your current circumstances to determine what coverages you need and what coverages you may not need or what coverages need to be modified or enhanced. It is the brokers responsibility to not only inform you of the coverage, but also provide advice to you to ensure you have the best coverage given your individual circumstances.
Having a meaningful discussion with your broker ahead of time may mitigate the need to fight to recover damages later.