Did you know failure to deliver a timely insurance renewal can be purposeful? Insurance agents can use strategies to force you into renewal whether you want it or not. Often, insurance agents do this for their own benefit and performance gain. Insurance agents like these do not have your best interest in mind.
You need a “partner who can lead your search for business medical insurance that meets your needs.” Someone to help you find insurance that “is helpful to your employees and fits your budget.” The question is, how do you tell the difference? What do you need to watch out for and what do you need to pursue? AUI is here to help you figure it all out.
Understanding Insurance Policy Renewals
Most insurance policies automatically renew from year to year. Insurance policies change yearly and prices almost always to up, so double-checking information is crucial. Comparing your plan to other plan options before renewing is important. In addition, the carrier can change your plan at renewal time. You need to ensure you are getting the best coverage possible for your money.
How Do Insurance Agents Make Money?
Simply put they are paid by an insurance carrier. The terms agent and broker can be confusing. Insurance agents work for a specific company that provides health insurance. Brokers represent the customer and not a specific insurance company. We recently wrote a blog on this topic HERE.
While agents can help you with insurance plans, they do not always put your business needs first. An agent may suggest specific plans they make a higher commission on. Putting themselves first not your business.
Agents Bad Behavior – Failing to talk to you about renewal deadlines
We have heard stories of agents failing to remind customers about renewal dates until days before the deadline. They know by waiting to tell you, it can make you feel like you have no other option but to renew for another year.
DOES YOUR CURRENT AGENT:
Compare plans? Inform you of renewal? Communicate consistently? Put your needs first?
THEY SHOULD.
Shopping for New Health Insurance Policies
The renewal process takes time, especially when you are looking into different options.We need to ensure you have enough time to review your current plan and new plans before deciding. Policies can add or exclude things from year to year and costs can change. An agent may not want to give you that bad news if your plan has a loss in coverage or your plan design is changing.
Often agents have to deliver difficult information to a client and who wants to always be the bearer of bad news? At AUI we look at these conversations as part of an industry standard and instead of looking at the negative we prefer to look at is as an opportunity to discover a better insurance solution.
Why you should talk to our team at AUI
At AUI we take a proactive approach to your benefits. We will find you the best options and build relationships with you because we care about you. We want to see your business succeed and finding the correct plan will help you achieve that. You deserve better and want to prove that to you by providing it to you.
“Let’s face it: health insurance issues aren’t always rosy. At AUI, we understand how employee benefit changes can impact small businesses. That’s why we get to know all our clients and stay in touch with them throughout the year.”
We will be with you every step of the way. Contact us today to get started!
