ACE and Assurex Study: Wealth at Risk | Don’t Overpay To Be Underinsured
Are you spending your hard-earned wealth wisely when it comes to insurance?
In 2010 and 2012, ACE Private Risk Services® conducted a survey of more than 600 independent insurance brokers and asked if their clients were over or underinsured with their mass-carrier insurance for 21 types of coverage. The results were not supportive of mass-carrier coverage, to put it politely, showing less than diligent concern a nonpersonalized insurer can have for a client’s financial security.
According to the survey, 63 percent of independent insurance agents were able to insure a new client properly and keep the annual premium at no more than 5 percent above the mass-carrier price. In half the cases, it was less.
An independent insurance agent considers your holistic lifestyle when recommending insurance coverage. Because of the multiple facets that comprise your lifestyle, there are more variables that a discerning agent can use to adjust coverage in order to keep you properly insured and not paying too much simply because you can afford it.
We hope after reading this white paper, you are able to determine if you are also overpaying to be underinsured, and what steps you can take to be more financially secure in the future.
Contact Kim Lucarelli, Director of Sales, Personal Client Management team with any questions or concerns.