I’m an Adjuster and majority of my work involved deductible reimbursement claims. Agent and Adjuster alike, we all had to pass the same exam to be licensed. The amount of times I’ve had to explain to an agent what a deductible was is crazy. For example- they have a $500 deductible, but the repair is only $345. There’s no insurance deductible, there’s no approved claim. I get vouching for your insured, but common sense has to kick in eventually.
Agents not knowing what’s deductible is??
byu/SquillWat inInsurance
Posted by SquillWat
5 Comments
Not every state has identical licensing exams for agents and adjusters. The average agent has never read the policies they sell and they commonly misrepresent coverage out of ignorance. Personal lines and commercial lines both.
I work in commercial. One of the brokers the other day sent me an email asking if their “deductible would be lower because the damage wasn’t as much as they expected”. They’re all useless I swear lol
Nowadays I’m an IA, I spent many years as a commercial producer. From what I’ve seen 95% of newer personal lines producers don’t have a clue, independent or captive. All they’re worried about is getting a prospective insureds prior quote or current coverage and beating the price. With the producer and insured not completely clear on what coverages are in place.
The ones that get me are the ones who can’t figure out what a fucking declarations page is. No, not a binder, no, not a full jacket, not a certificate of insurance, I asked you for a damn dec page.
Agreed! And don’t bother trying to explain coinsurance & coinsurance penalties to them either.