3/11/2014 - Few Americans scrutinize insurance policies before buying
Despite the many resources consumers have at their disposal to research homeowners insurance policies - not to mention renters, auto and other forms of coverage - few take advantage of these opportunities to learn more about the policies they're buying, according to new polling data.
The survey, which was commissioned by the trade association Independent Insurance Agents & Brokers of America, found that nearly 40% of respondents had never done their homework to find out more about an insurance policy before purchasing one. Additionally, the same percentage noted that they were less than confident that the one they had presently was sufficient.
Robert Rusbuldt, president and CEO of the IIABA, indicated that whether consumers are living on their own or have a family, finding out more about these plans is crucial if people want to be protected from the unexpected.
"This survey shows that many Americans may not even realize they are vulnerable to serious losses," said Rusbuldt. "A lot can happen in a year. The start of a new year is a perfect time to dust off your insurance policies and review them thoroughly."
The poll also revealed that approximately one in every three respondents had not consulted with an insurance agent in the past year.
To ensure you have the right coverage to help protect you in the event of a loss, speak with one of Selective's specialized independent insurance agents today.