COVID 19 Consumer Insurance Tips

Insurance Questions Amid COVID

These days you can’t go online without seeing dozens of opinions, speculation and, at times, misinformation about how COVID 19 will affect our lives. Every industry has seen some kind of change; some have seen an uptick in sales, while many more have seen varying levels of income loss. Insurance is no different, though admittedly, not seeing losses as swiftly as many other business types. There are adjustments that need to be made on both the consumer side and with insurance providers.

College Students & Children on Car Insurance

Many of our clients have college students that are away for most of the year and are often excluded from their parent’s auto policies while in school. It is important to check with your insurance agent or carrier to make sure those students are back on the parent’s auto policies while they are home for an extended stay.

Aside from the COVID fall out, if your children have a car that is dedicated to them, we encourage that parents limit their liability by:

  • Have children become the official owners of those cars
  • Children purchase their own separate auto policies

Working with Insurance Companies

Many carriers have been more lenient on cancelations and will work with both businesses and individuals to alter payment plans. We know these will be difficult and awkward conversations, but it is important to take a proactive approach to work with the carriers before it is too late. Remember:

  • All requests must originate from the CONSUMER
  • Insurance carriers have millions of clients, they cannot know the financial situation of all them which is why you should contact them ASAP about your specific situation

A majority of auto carriers are also giving discounts to their clients. With the limited number of travelers and commuters, auto claims have plummeted, meaning the carrier makes more profit. Whether you have lost income, or if your financial situation has stayed stable, H&K recommends you take advantage of these discounts.

H&K is still fully staffed and, aside from in person visits, we are fully functional. If you miss our smiling faces, we are available to have client video meetings! We look forward to continuing to serve you and treat you all like the H&K family you are.

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