Los Angeles, CA (PRWEB) March 10, 2013
Online insurance agent, BMCC Insurance, warns consumers of common insurance mistakes to avoid in their new blog post entitled, “Five Insurance Mistakes to Avoid.” As consumers continue to look for ways to save money on personal expenses, many have looked to insurance, but unfortunately have left themselves short on key elements of their insurance coverage by cutting too much.
With the help of the Insurance Information Institute,
BMCC Insurance compiled some of the more painful insurance shortage issues that their customers have shared with them.
1. Switching their homeowner’s insurance policies from replacement cost to real estate value.
2. Removing rental car reimbursement from their policies.
3. Reducing the levels of personal injury protection on their auto coverage.
4. Buying by price alone.
5. Not purchasing renter’s insurance.
Insurance is a natural place to look for deductions in household expenses, but it’s important for consumers to know that these cuts have consequences. Armine Bradley, Operations Manager for BMCC Insurance, relayed a story wherein an insured was involved in an accident and the at fault person is avoiding her. Long story short, because she delete rental car reimbursement from her auto policy, she is having to pay the rental car out of pocket, and hoping to get it back, if and when the person at fault returns her calls.
The article suggests several alternatives if one is looking to save money, including raising your deductible from say $500 to $1,000 on auto for instance. This change will save the insured money while keeping them from making a cut that could have catastrophic consequences.
BMCC Insurance represents over twenty A-rated insurance companies which provide coverage to consumer and business clients.
Areas of specialty include auto, homeowner’s, life and commercial lines. BMCC Insurance is located in Encino, California.