Buying insurance online is quick and easy. You can compare policies, examine prices, and even buy insurance from your phone. But insurance can be confusing. You might still have questions about what your policy covers, what it doesn’t cover, and what to do if you need to make a claim.
An insurance agent can help with that. His job isn’t done when he sells you a policy. He can explain to you what is and isn’t covered by your policy, look at your policy with you, and answer any questions you might have.
What are the Hidden Perks of Having an Insurance Agent
Here are some of the perks of having an insurance POS.
1. They Can Help You Find Coverage Gaps
It is easy to look at the premium and coverage amount and assume that you have enough protection. But important details can sometimes be missed.
An insurance agent can help you check things such as:
- Policy exclusions
- Coverage limits
- Deductibles
- Waiting periods
- Add-ons
- Claim conditions
For example, a person buying motor insurance may make a decision on the basis of the premium. The Insurance POS can advise the customer regarding add-on covers such as zero depreciation or roadside assistance.
The same applies to health insurance. An agent can help to understand waiting periods, room rent limits, etc., before buying the policy.
2. They Can Explain Complicated Policy Terms
Insurance policies can be very detailed with the terms and conditions. The fine print is sometimes hard to grasp on the first read-through.
An agent is a great resource for explaining all the policy details and answering questions regarding the insurance you need. You can ask them to define any specific term, find out which services are included and which are not, or ask for clarification on a certain condition.
Having someone explain the fine print of the policy can be handy during the comparison process of similar policies. Reviewing the differences in the language of the policies would help you choose a more beneficial option.
3. They Can Review Your Policy When Your Needs Change
Your insurance needs may change over time. However, many people simply renew their policies without checking whether the coverage still suits them.
An insurance POS can help you review your policy when there is a major change in your life.
You may need to review your coverage when you:
- Get married or have children
- Buy a new car or property
- Add family members to your health policy
- Have a change in income
- Need higher coverage
- No longer need certain covers
A regular policy review can help you avoid having too little or unnecessary coverage.
4. They Can Help You Understand the Claims Process
In most cases, a person purchasing an insurance policy does not think about claims. However, when the time comes to actually file a claim, the process may seem overwhelming.
An insurance agent can walk you through the process of filing a claim and what documentation is needed to support the claim. The insurance POS can also answer any questions related to policy details. It should be noted that the insurer will be the one to evaluate and approve the claim in accordance with the language in the policy, but an agent can help you navigate the process.
5. You Have Someone to Turn to When You Have Questions
Online insurance platforms are great, but sometimes you need to speak to a person who can address your specific situation.
An agent can become your go-to person, and you can always turn to them with any questions you have relating to your insurance renewal, changes you want to make to your current policy, or any questions about your coverage.
This can be especially helpful if you have multiple types of insurance or if your personal situation fluctuates often.
What Should You Check Before Choosing an Insurance Agent?
Not every insurance agent will provide the same level of service. Before choosing one, check:
- Registration: Make sure the agent is properly authorised to sell insurance.
- Insurance options: Ask whether they work with one insurer or offer options from multiple insurers.
- Product knowledge: They should be able to explain the policy clearly.
- After-sales support: Check whether they help with renewals, changes, and claims.
- Transparency: Make sure they clearly explain the premium, coverage, exclusions, and any applicable charges or commissions.
Conclusion
An insurance agent can assist you in many ways other than just finding a policy. They can help you understand and close gaps in coverage, find out if they cover the things you need, review your insurance as your needs evolve, and assist you in the claims process.
A good insurance POS can make insurance simple and easy to manage. Before choosing an agent, look for someone who is properly authorised, transparent, and willing to support you beyond the purchase of the policy.
Also Read:- Guide to Becoming an Insurance Agent in India
FAQs
Is buying insurance through an agent better than purchasing it online?
Both options are good, but buying insurance through an agent helps to get assistance and support, while online buying is more convenient.
Can an insurance agent help with claims?
Yes, an agent can help with the claims process by explaining the steps to you and telling you the necessary documents for the insurer to consider and settle the claim. However, the insurance company has the final say.
Can an insurance agent help you pick the best policy?
Yes, an agent can recommend different policies and their benefits to help you pick the best one that suits your interests and financial capabilities.
Can an agent go through your insurance policy?
An agent can go through your insurance and help you decide what needs to be adjusted or added.
Does an insurance agent cost anything?
Depends, mostly they can be paid differently based on the product and the channel used to purchase the policy, so it is better to ask if there are any compensation policies applied.