I have been asked by many people, “why are the insurance policies so hard to read and understand? Is it because the insurance companies are trying to “hide” something from us?”

The answer is no. You have to realize that an insurance policy is made up of a collaboration from the underwriters, agents and attorneys. It certainly feels like the policies are written only by the attorneys! Truth is, it is a true partnership of the above parties deciding what type of risks are going to covered, at how much a premium should be charged for each risk, and how the risk will be paid. A lot of thought goes into this process so that the insurance company makes a little profit, but mostly, that the named insured is protected to the point of having “peace of mind.”

Remember too that the insurance companies are under strict regulation from the state and Federal governments. So therefore the insurance policies have to be worded in simple legal language so that there is no “gray” area as to what is covered and for how much.

When I first looked at an insurance policy during my basic training days at insurance class, I looked at it with total intimidation. Then, as I went over the specific parts of the policy, I began to see a trend of recurring things in each section. There are “definitions,” “conditions,” “what is covered,” and “exclusions.” Beyond that, there is the actual verbage that explains what is covered and under what conditions.

Believe it or not, many people do not take the time to read the policy from “cover to cover.” Of course, it can be “boring” text to say the least! But if you clear your mind, read and take in all that the words describe, it is not complicated to understand. Try it! Then, if you have any questions, or “what if” questions, you can call your agent and he or she will gladly find out if something is covered or not and under what circumstance.

Answer: Insurance policies are really not too complicated!

For all your insurance needs, call Doug Seide Insurance at 480-443-1952.

One of the most underrated areas of any insurance company is the underwriting department. Every insurance company has one…whether you have life, auto, property/casualty, commercial, there is an underwriting department that thoroughly researches each category.

Almost everyone who buys insurance does not know exactly what the underwriting department does. In a “nutshell,” the underwriting department consists of people that either make or tap into a system of statistics that show the likelyhood or “chances” of risk to each category of insurance coverage. Simply put, they are sole source for making your premiums that you pay your agent for coverage.

The most popular comment made by a consumer buying insurance is “why is this not covered?” It is the underwriters opinion, along with real statistics, that a certain type of risk is way to high to cover to keep the insurance company in business. Insurance companies are charged by each state in the USA to keep a large amount of cash “reserves” to cover most losses it will normally encounter in a given time period.

An insurance company walks a fine line of keeping the necessary cash on hand to pay out claims and to have enough to stay in business to further serve their customer base.

In conclusion, the underwriters have a very heavy responsibility to satisfy the customer, the insurance company they work for and the state insurance agencies that govern their businesses.

If you need a quality insurance policy for you, your family and business, contact agent, Doug Seide now at 480-443-1952.

Have you ever thought of what to do in the event you get into a traffic collision? What do you do first? When do you pick up the phone and call the police? What do you say to the other party? Do you direct traffic?

These and many other questions come to mind if you never were in an auto accident before. Some insurance agents even have a pre-printed checklist of what to do in the event of an accident.

We found a great video here from the Pennsylvania Department of Insurance that you will find informative.

Having auto insurance is having “peace of mind.” It is security, knowing your auto is protected, your person, your guests in the auto and other drivers.

The first thing you need to do when looking for insurance coverage is to find out what is mandatory in your state. Most likely there is a requirement to have the minimum coverage of liability. For example, the miminum liablity requirements in the state of Arizona is “15/30,” which means for any single occurance, $15,000 covers any one person/property damage, or a total of $30,000 is available to cover the total number of people’s injuries and property damage.

In some states, uninsurance/underinsurance maybe be required or not. Uninsurance covers you, the insured if the facts show that the other party, at fault for the collision does not carry liability insurance.

Other common insurance coverage is collision, which covers the damage to your auto in the event of a collision. Comprehensive coverage applies to all other damages to your auto such as theft or rocks flying in the air and hits your auto.

Other popular coverages are medical pay and towing. For any other coverages, quite often it will be extended coverage or specialty category.

When reviewing auto insurance coverage with your agent, make sure you only purchase coverages which only applies to what your needs are.

For a quick and easy quote on your auto insurance needs, call Doug Seide Insurance at 480-443-1952.

Nowadays, when you find that more of your “prized possesions” such as motorcycles, boats, travel trailers, snowmobiles, etc., are located on your residential property, do you really know if you have the proper coverage on them?

Specialty Personal Lines

In this post, we will focus on an exellent company, Foremost Insurance Group, that is the recognized leader in the Specialty Personal Lines market. It started back in 1952 when they were the first insurance company to write coverage for moblie homes. They have broadened their product line and refined the policy with years of knowledge and experience. NO OTHER SPECIALTY insurer can match that.

Here is the items that Formost can write insurance on:
Motorcycles, Off road vehicles, Snowmobiles, Personal Watercraft, Boats, Yachts, Motorhomes, Travel Trailers, Mobile Homes, Dwelling Fire or Landlord policies, and NON standard homeowners policies.

Formost’s motto is “To be committed to make it easy for the customer to do business with us.”

1. By flexible billing. There are many payment options to meet client’s needs.
2. Excellent claims. Quickly and efficiently, experienced adjusters, they can write checks on the spot. They all have laptop PC’s and digital cameras so fast, accurate decisions on coverage can be made.
3. Great customer service. The Claims hotline is  1-800-527-3907. Claims service is available at www.foremost.com

The difference you find with Foremost’s SPECIALIZED coverages versus and endorsement on an AUTO or HOME policy is like NIGHT and DAY. Usually the endorsements on the auto or home policy are very limited. They could be missing out on important coverages they are not even aware of.

Call our OFFICE at 480-443-1952 or click the “Contact Doug” tab for a quick and cheerful quote.

We are going to expand on the previous post by adding the characterisitcs of a GREAT agent! Please enjoy….

Many times when we hire a lawyer, a dentist, a plumber, etc., it is because we have an immediate need. Seldom is it that we take the time to “shop” for these service providers with enough time to thoroughly check out everything we should.

Here are several tips when knowing you have a great insurance agent.

• Agent has empathy to your unique situation
• Carefully reveiws every available coverage you may need to protect you, your business, and your family without the “salesy” pitch
• Will answer any and all your questions, even if it takes all day
• Goes over the claims process in advance so you are not “lost” during a time when you need to know immediately what to do in case of a claim
• Keeps in touch with you at least on a quarterly basis to see if you need to make changes to your coverage for whatever the reason
• Makes a concerted effort to save you money via quantity discounts, preferred risk discounts, etc.
• Is knowledgeable in most aspects of the insurance policy. What the agent does not know, he should be able to find you answers right away

Most of the above items are common sense, but you would be surprised at how many people will purchase insurance policies without getting information that is a matter of “life and death” sometimes and find out it is too late to get coverage on something that is not covered due to the short comings of the insurance agent.

Seek your new insurance agent with care!

DO YOU NEED A QUOTE ON AUTO OR BUSINESS INSURANCE? CALL DOUG AT 480-443-1952.