Feeds:
Posts
Comments

Posts Tagged ‘payments’

In my last blog, I discussed some of the unique insurance needs mobile professionals should consider for protecting their homes, vehicles, and personal items while on the road.

This time, I asked insurance expert Valerie Vollmer to share some pointers on evaluating different carriers. Below are some key factors to consider when shopping for insurance.

Reputation counts

Learn about the company’s history and its financial standing. Vollmer says to check out its A.M. Best ratings, and look for at least an A grade. Also, research its fiscal health. You want a company to have the funds readied in case you need to register a claim.

Geographic coverage

It’s not just about what types of insurance a company sells, but where those policies are honored — especially for mobile professionals. If you’re crossing state lines for contracts, make sure your insurance will go with you. Inquire about where the policy is in effect.

Lapse allowance

Of course, the best way to avoid any loss of coverage is to pay the premiums on time. Still, be informed on what kind of “forgiveness” period is allowed. Vollmer says most companies offer a 10- to 30-day grace period to get your payment on the books. To avoid that situation altogether, set up an automatic withdrawal program; chances are, you already have one with some of your regular bills.

Align with an agent

Because travelers move around so much, Vollmer says developing a relationship with an agent who understands your unique circumstances is even more important than for “regular” customers. Your agent can act as a surrogate in your absence, or at least an informed resource if you have to file a claim while on assignment. A single point of contact helps alleviate some stress or frustration. And, let’s face it; if you’re filing a claim, you’re already in a stressful situation.

Look for loyalty perks

While not every carrier offers every type of insurance, many sell multiple plans and offer discount premiums if you purchase a grouping, like home and auto. Others may reward long-term customers with loyalty discounts.

Good to know

Insurance may not be a topic you think about frequently — that is, until you need it. Regardless, if you’re in the market for a new company or it’s been a while since you reviewed your policies, it pays (or saves) to know that you and your belongings are protected if something happens on an assignment or at home.

Special thanks to Valerie Vollmer of Vollmer Insurance Services in Agoura Hills, Calif.

Anne Baye Ericksen has written for Healthcare Traveler Magazine since 1996. She resides with her family in Simi Valley, Calif. 

Read Full Post »