This is where the industry ‘fails’. Between 2013 and 2015, the advertising budget for this American Family increased by $40,000,000, up to $194,000,000. Nearly one-fifth of a BILLION dollars in one year. Perhaps it would be a better idea to redirect some of those funds into providing the very basic and routine coverage needs within their policy, such as personal injury. Fighting their Insured all the way to the State supreme court – not over whether their agent failed to provide what the client asked for, but instead whether the insured waited too long to file their allegation – illustrates everything I need to know to never buy their product. Hope they enjoy their “win”. https://www.statista.com/statistics/370669/american-family-insurance-ad-spend-usa/
good points CU but I have to side with the court majority in that folks cannot expect insurance agents to make decisions for them and then complain when that decision creates unexpected consequences. I know everyone says insurance is complex but not reading your policy or understanding what you bought is the reason for “caveat emptor”. You just don’t leave it up to your agent to do for you what you are supposed to do yourself. Ignorance is certainly not bliss when it comes to protecting yourself. I do find it odd though that AmFam excludes personal injury…that seems to me to be a basic coverage offering for a personal lines writer.
This is where the industry ‘fails’. Between 2013 and 2015, the advertising budget for this American Family increased by $40,000,000, up to $194,000,000. Nearly one-fifth of a BILLION dollars in one year. Perhaps it would be a better idea to redirect some of those funds into providing the very basic and routine coverage needs within their policy, such as personal injury. Fighting their Insured all the way to the State supreme court – not over whether their agent failed to provide what the client asked for, but instead whether the insured waited too long to file their allegation – illustrates everything I need to know to never buy their product. Hope they enjoy their “win”. https://www.statista.com/statistics/370669/american-family-insurance-ad-spend-usa/
good points CU but I have to side with the court majority in that folks cannot expect insurance agents to make decisions for them and then complain when that decision creates unexpected consequences. I know everyone says insurance is complex but not reading your policy or understanding what you bought is the reason for “caveat emptor”. You just don’t leave it up to your agent to do for you what you are supposed to do yourself. Ignorance is certainly not bliss when it comes to protecting yourself. I do find it odd though that AmFam excludes personal injury…that seems to me to be a basic coverage offering for a personal lines writer.