Posted On: February 27, 2007, 9:12 am CST

Posted By: DDT

The Consumer

1. knows what coverage's they need.

2. will ask their professional insurance agent about possible other coverage's they may need

3. will purchase all of the coverage's needed and in limits adequate to meet their needs

4. will immediately advise their carrier of any substantial changes in their needs or exposures


The Agent / Company

1. knows what coverage's the consumer needs

2. will ask the consumer questions to determine what other coverage's are needed

3. will document what coverage's were recommended but not purchased

4. will provide their Personal Lines clients the same service as their Commercial Lines clients


In a perfect world…

1. The consumer would know that they don't know what coverage's they need, but would be smart enough to know when the agent isn't doing the job.

2. The agent will take the time to listen to the consumer and recommend all of the coverage's that are needed, but only the coverage's that are needed.

3. The consumer will listen to the agent and purchase all of the recommended coverage's.

And let's not forget about the states. In the prefect world premiums would be allowed to reflect the real exposures, whether or not the public believes it. In 30 years in the business, there is one truth and that is in a free market there will be carriers out there wanting to write the business if the premium can reflect the real exposure and allow us the possibility to make a profit.