Repeat After Me, Coinsurance Is Bad!

For the 432,234th time now, I have had an agent send me a proposal of insurance that includes coinsurance.Insurance buyers, ask your agent if you have coinsurance on your property insurance policy. If the answer is yes, ask your agent why they have allowed your insurance company to include a penalty that might hit you when you have a loss.For the … [Read more...]

Property Insurance – Agreed Amount

I am in the middle of about 150 different insurance bids and one thing is standing out, agreed amount. First, agreed amount is an endorsement to property insurance that removes the coinsurance penalty. Coinsurance is a penalty. Agreed amount removes the penalty. It is a good thing for insurance buyers. I am amazed at how many agents deliver … [Read more...]