“I do not have a great deal of patience with the purchasing of insurance or management of risk. I have never even had a claim.”
This can result in multiple claim problems.
The following language should be removed from an insurance buyer’s vocabulary:
o “Just quote what I have now. Email it to me, and I will make my decision.”
o “I’m sorry, but I cannot accept your quote because I have a lower quote from someone else.”
o “I really don’t have time to meet with you, so just renew it the same way it was.”
o “If someone stole from me, I would surely know about it.” o “I have a certificate of insurance from the subcontractor.” o “The landlord buys the insurance on the building.”
o “Here are the specifications I have prepared. Just quote these items so I can compare everyone’s quote.”
o “I have paid insurance premiums for all of these years. Now that I have turned in one claim, the insurance company has denied the claim. They are all a bunch of crooks!”
o “Damage to my product being transported is taken care of by the common or contract carriers that I use. I don’t need separate transit coverage.”
o “My neighbor was covered for this loss.”
o “My friend pays less.”
o “We bid the insurance every year as a matter of corporate policy.”
o “We have five agents quoting this renewal.”
o “They can only take my liability limits, so I don’t want an umbrella policy.”
o “Let’s leave Harry off the list of drivers. The drunk driving ticket he received was his first ticket, and I don’t think he’ll ever do that again.”
o “I never take the loss damage waiver coverage when I rent a car. My personal insurance covers it.”
o “When I rent a car, I rent it in the company name, so I don’t have any liability for accidents or even damage to the car”.
o “When I rent a car in my personal name, the company policy will cover any claims arising out of that rental.”
o “If I list one name on the policy, it will pick up any other related name.”
o “I have 100% coinsurance on my policy, meaning that the insurance company will have to pay 100% of the loss.”
o “Twelve months is plenty of time to rebuild my building.”
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