BelmanInsuranceAdvisor.com Looks at How the Industry Derives its Premium Rates, and Offers Five Money-Saving Tips For Agents to Pass to Clients
New York, NY (PRWEB) July 18, 2013 -- Actuarial tables are the resource by which the insurance industry lives and dies. They measure the smallest variables in the lives of clients, or potential clients, to determine the risk the client may prove to be. BelmanInsuranceAdvisor.com believes offering “inside” advice to clients as to how these tables are viewed, and how (possibly) premiums may or may not be affected, is an honest approach for the insurance professional.
Most people understand that insurance is a risk game. The riskier a proposition they are, the more they are going to pay for insurance. Based on Kiplinger’s article, Belman Insurance Advisor provides five factors or talking points to discuss with clients in order to lower their insurance rates.
1. Monitor and/or raise the credit score – most companies charge higher premiums for items like automobile insurance based on credit scores.
2. Record of moving violations – insurance companies look at the record of moving violations for a range of insurance types from auto insurance to health insurance.
3. Weight – health and life insurance companies take a close look at body mass index to determine risk factors.
4. Zip code – auto insurance premiums are based, in part, on the number of claims filed in a certain zip code.
5. Hobbies – a client whose hobby is reading is more likely to be better rated than one who does deep cave dives for fun.
Insurance is, in a large part, a business of trust. An insurance professional who offers their client ways to save money on insurance is creating good will, and is going a long way to earn and keep the trust of the people they service.
Belman Insurance Advisor looks at what drives insurance premiums up, and offers five rate-reducing talking points for professionals to discuss with clients.
About BelmanInsuranceAdvisor.com:
BelmanInsuranceAdvisor.com proffers intelligent and valuable information to insurance professionals to guarantee continued profitability.
Belman Insurance Advisor, BelmanInsuranceAdvisor.com, (708) 320-8567, [email protected]
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