Read The Fine Print: The Agent Isn’t Always Right

I recently got in a major accident in Missoula, Montana. Fortunately it was not my fault. However, because of the severity of the accident, it was necessary for my insurance company to become involved in the claim and settlement process. Throughout the process, I learned a few things about auto insurance, most importantly being that I did not exactly understand the coverage my agent sold me.

When you work with an agent, they sell you the basic policy features and benefits. However, when it comes to processing a claim, the fine print of your policy mandates how everything is dealt with. For example, I had a $5000 medical payment coverage plan on my policy. I was unaware that I had to pay that back since the accident was not my fault. Therefore, it made the settlement process more difficult because I had to work with the other company to get a higher amount so I would not be out of pocket.

Most of the time, the agent does not know or understand these types of details. They are responsible for selling you your policy. When it comes to handling a claim, an adjuster will handle the process. Therefore, if you are purchasing a new policy, you might want to read it through.

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