Watch Out for Misleading Quotes

By |2020-07-15T02:16:14-06:00March 5th, 2018|

All of us here at the agency would like to wish you and your families a happy spring! We’re sure you’re as excited as we are to start getting outside more and enjoying our beautiful and sunny Colorado weather. Everything in the agency has been going very well. Jim and I have been continuously improving our connection with the office and our customers while working remotely from Florida, Jan has been preparing for her daughter to graduate from college, and Paula has been busy packing as they are about to move into a new home!

Something interesting that I have been noticing in the mail more frequently is insurance quotes from different local agencies. These quotes claim to know the renewal date of your current insurance policy, the purchase price of your home, and other personal information in order to calculate a quoted premium for how much your insurance would cost with that agency. The quoted price seemed exceptionally low to me, so I decided to investigate it a little further.

The first thing I noticed when I called the agency about the quote I received was that they did not actually have any saved information on the quote they sent out. Instead, it was just a best case only quote for the homes in my area. In order to get a real quote, the agent told me he’d have to run two reports: the soft hit insurance score and a loss history report which are typical reports to be run in order to get a quote. He went on asking more and more information about my property including roof age, my current carrier, renewal date, and the current premium I’m paying. As I could’ve expected, the quote he ran for me this time was MUCH higher than I received in the mail. The quote in the mail said I could pay a yearly premium of $445 for coverage while the one I received over the phone was nearly $1,200 per year!

After all is said and done, we wanted to make sure you were aware that not all quotes are as great as they seem. Please take all quotes with a grain of salt and be careful that they are from legitimate agencies before giving them any of your personal information. Most importantly, please give us a call so we can review your coverages with you. We can always check the rates with our other companies too, to see if there is a policy that better fits your needs!


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