Why is it important to have longevity with an insurance company?

Now more than ever it is important to understand the benefits of staying with your current insurance company. Doing so will provide several benefits which I have detailed below:

  1. Stability and Reliability: Established insurance companies often have a track record of financial stability and reliability. Longevity means the company has weathered economic downturns and changes in the industry, which can instill confidence that they will be there when you need them most.
  2. Accumulation of Benefits: Many insurance policies offer benefits that accumulate over time, such as cash value in permanent life insurance policies or loyalty rewards for staying with the company. More examples are accident forgiveness or diminishing deductibles when filing no accidents. Longevity allows you to maximize these benefits.
  3. Familiarity with Your Needs: Over time, your insurance needs may evolve. Staying with the same insurer allows them to become familiar with your situation, making it easier to adjust your coverage as necessary and potentially offering better-suited products. Our carriers offer not only robust coverage but multiple lines of business meaning all of our carriers can meet your needs.
  4. Simplified Administration: Dealing with a single insurance provider and agent can simplify administrative tasks, such as billing, policy management, and claims processing. Longevity with one company means you’re accustomed to their procedures and may have established relationships with their representatives.
  5. Potential Discounts: Some insurance companies offer loyalty discounts or other perks for long-term customers. These discounts can help reduce premiums and save you money over time.
  6. Consistency in Service: Longevity with an insurance company can lead to consistent service experiences. You’re likely to know what to expect in terms of customer service quality, claims processing times, and overall satisfaction.

However, it is of your best interest as an insured and your independent agent to periodically review your insurance coverage to ensure it still meets your needs and remains competitive. While longevity with one insurer has its advantages, it shouldn’t deter you from exploring other options if they can offer better coverage or pricing. As the insured, you have control over your insurance. It is the job of your agent to offer options, counsel, and advice.

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Are you ready to save time, aggravation, and money? The team at the Oak Insurance Group is here and ready to make the process as painless as possible. We look forward to meeting you!

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