Now why do I say that? Well, in almost thirty years of practice, I’ve asked each and every person who has come into my office on a personal injury claim to bring in their insurance policy and to show me what they have. 99% of these people are vastly underinsured and I blame you for not fully explaining to them the benefit of buying high liability and uninsured motorist benefits. You are letting these people leave your office or fill out some fancy form on a website that has them reading offer, thinking they have full coverage, when in fact, they’re vastly underinsured.
How come you’re not explaining to them that for a $150.00 or $200.00 of additional premium a year, they could have a million dollars worth of liability coverage and a million dollars worth of underinsured motorist coverage? You should be taking the time to explain to them what happens if they’re hit by an uninsured driver or what happens if they’re hit by someone who has less insurance than they do.
In today’s world, with more and more people driving without licenses, without insurance or buying some puny coverage because they’ve got DUI conviction on their record. It’s your responsibility to explain to them how cheap this coverage is. Now look, I’m fairly critical of you but it’s probably not your fault. I’ll bet you that the Allstate’s, the GEICO’s and the USAA’s of the world aren’t even teaching you, the sales person on the floor, of the importance of this type of policy.
I know that you’d probably don’t get a great commission for selling an additional $900,000.00 of coverage and picking up anywhere from $14.00, yes $14.00, I’m going prove that to you in a minute, to a $100.00 or $200.00 worth of additional premium. So to a certain extent, I think that the folks who have taught you how to sell insurance are doing you the service. But I know why and I challenge you.
I think that USAA, GEICO, State Farm, Progressive, all of you, are deliberately not informing your customers, your insurers, of the availability and the great deal this additional protection affords them. I think you do that because you don’t make a lot of money from it. And I think you do that because obviously, it exposes you to a lot greater risk. But it’s your duty when somebody comes to you and says, “Here’s my situation. Here’s how much I make. Here’s my family style.” And they ask for you for a recommendation, well even if they don’t ask for a recommendation how much coverage to a buy; that you should be telling him to buy a million dollars of liability coverage and a million dollars of UIM coverage. It’s dirt cheap.
Here’s my challenge, if any of you who are watching this video, disagree with me or can prove to me that you are doing this, I’d love to talk to you. I’ll put you on camera. If any of you who are watching this video would like to send me a sales manual so that I can see what these insurance companies are teaching, I’ll be more than happy to take it, to read it and I’ll give you a chance to give your side of the story.
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