The Importance of Being Honest with Your Insurance Agent

Purchasing insurance requires a good deal of trust between you and your agent. After all, you rely on their expertise to get the coverage you need. However, they can only properly do their job if you’re completely honest about your circumstances.

The Importance of Being Honest with Your Insurance Agent

Here are some reasons why honesty is always the best policy when dealing with your insurance agent:

  1. Your Claims Will Be Accepted Quicker. Being transparent upfront means the insurance company will have full knowledge of your history and current situation. As a result, they’ll be able to pay claims quickly instead of spending unnecessary time investigating discrepancies. This can make a huge difference when you need money for repairs, medical bills, or other forms of indemnification.
  2. You’ll Avoid Legal Landmines. In many cases, lying on an insurance application constitutes fraud, leading to denied claims, canceled policies, legal issues, and maybe even criminal charges. Rather than risk these outcomes, it would be wiser to always be candid with your insurance agent from the start.
  3. It Will Be Easier to Buy New Insurance Policies. If you develop a reputation for being dishonest with your insurance agent, that will likely impact their ability to secure favorable policies from the insurer down the road. On the other hand, maintaining transparent relationships will keep the doors open, giving you an easier time when obtaining new covers.
  4. You’ll Be Eligible for Discounts and Lower Rates. When you demonstrate you’re a low-risk, honest client, many carriers offer policy discounts and lower premiums to keep you around. Therefore, your honesty will save you money in the long run, besides giving you a reputational boost.

Being upfront with your insurance agent creates mutual understanding and trust in your relationship. You’ll rest assured knowing you have the proper protection for your cherished assets. So, resist the temptation to be less than truthful – your honesty will pay off with time!