Reviewing Coverage is a Win-Win for Carriers and Insureds

I recently came across an article encouraging Tennesseans to review their home insurance coverage. I wanted to share this because this is something everyone should do periodically, not just the good people of Tennessee. Reviewing your coverage is beneficial for all insureds. Likewise, it offers carriers a chance to reinforce with insureds the scope and limits of their current coverage while also counseling insureds on recommendations for additional coverage. Carriers can also update insureds about new products and services that may be appropriate for their needs.

One piece of advice the author offers is to figure out how much coverage you actually need. The author recommends taking a home inventory to make sure you have the right coverage to adequately cover all of your belongings. I couldn’t agree more but who has the time to do a proper inventory even if your carrier strongly recommends it? What if carriers offered insureds periodic coverage reviews and included an offer for a free contents inventory as an incentive? A number of insureds might take carriers up on the offer, and in the inventory process discover that they needed more coverage. This could be a great way for carriers to strengthen customer relationships by offering a service that gives insured the peace of mind of having the right coverage to match their needs. It builds trust and provides carriers more opportunities to educate their customers about the services they have to offer.

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