The right price but the wrong coverage?
If you’re looking to change insurance providers or if you’re looking for more comprehensive coverage offers from different insurance companies – you should beware that these companies might be trying to fraudulently sell you insurance. A law professor recounts testimonies from his legal experience in which “…insurance agencies… [misrepresented] policies in order to almost churn – taking value out of existing policies and [buying] new policies [so that] the insurance agency then got the premiums.”
The Louisiana Department of Insurance details the types of insurance fraud that insurance companies may try to pull on you:
Inappropriate Findings by Adjuster: The insurance company actually tells the adjuster to report lower damages than his actual findings on certain items so that you don’t get fully reimbursed for your entitled amount.
Incomplete or Shoddy Repairs: The insurance company directs the mechanic to perform substandard work or incomplete work.
Fraudulent Insurance Sales: This is when someone who works for the insurance company sells you insurance, but never turns your information over to the insurance company. So, you end up making your premium payments to them without ever being insured! You can prevent this from happening by contacting the insurance company directly and paying that way.
“Twisting – Insurance agents… receive their largest commissions for the first year a policy is in effect… some agents…” will try to get you to buy more plans or get you to change your plan by twisting the truth. You should always double-check information a shady insurance agent gives you, before taking their advice and switching policies.
Stacking, Sliding, and Churning: These are all forms of insurance sale fraud in which an insurance agent tries to sell you insurance coverage ABOVE your existing coverage, even though you don’t need them. They will lie and tell you that your coverage will increase or that your current coverage doesn’t cover what it already does. Usually what they’re selling is already covered under your current policy. Avoid this by double-checking information.
J.E.B. Insurance Services, LLC is a reputable family-operated insurance company. We will never try to take unnecessary amounts of your money for our own personal gains. We care about our clients – they are our first priority. For this reason, we specialize in insuring only commercial trucks and rigs. Our mission is to protect businesses that regularly operate trucks. All of our agents are close to us – and none of them will do you harm – we’ll do just the opposite! In fact, we’ll painstakingly adjust any of our policies to suit your needs so that you aren’t forced to buy excessive coverage just to fit your situation.
If you’d like to learn more about rig insurance us, contact us today!
