Frustrated with my insurance broker

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PPC1052

Final Approach
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I have now made multiple requests to my insurance broker for a copy of my insurance policy. The first time he just sent me the dec page. The second time, he re-sent just the dec page. When I told him that I really want the whole policy, he only sent the endorsements. How many times do I have to ask for a complete copy of the insurance policy? This is getting old. At least I know what I am looking at and can tell the entire policy isn't there. I feel bad for others who may not realize what they are looking at, and wouldn't be able to tell the difference.

Oh, well. For the benefit of all: there are three parts to an insurance policy 1) the declarations page, 2) the body, and 3) the endorsements. Without all three you cannot possibly make a coverage determination.
 
Cancel your policy, get a refund for the under amount, buy somewhere else, or turn around and buy a new policy from him and demand a copy.
 
PPC1052 said:
I have now made multiple requests to my insurance broker for a copy of my insurance policy. The first time he just sent me the dec page. The second time, he re-sent just the dec page. When I told him that I really want the whole policy, he only sent the endorsements. How many times do I have to ask for a complete copy of the insurance policy? This is getting old. At least I know what I am looking at and can tell the entire policy isn't there. I feel bad for others who may not realize what they are looking at, and wouldn't be able to tell the difference.

Oh, well. For the benefit of all: there are three parts to an insurance policy 1) the declarations page, 2) the body, and 3) the endorsements. Without all three you cannot possibly make a coverage determination.
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The body of the policy is often determined by "Forms Included" on the declarations. If so, a google search should turn these up. They should be standard filed forms. Or you could ask your agent for those forms. In any event, you prolly want to look for another agent.
 
Geico266 said:
Cancel your policy, get a refund for the under amount, buy somewhere else, or turn around and buy a new policy from him and demand a copy.
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You might pay a "short rate" penalty for the priviledge. Usually 10% of the "unearned" premium. IOW, $1,000 annual premium with two months left. Unearned premium would be around $167. Short rate return would be $150.

edit - If the plane is financed, your lender would likely not be happy with the uninsured period there. I'd replace the cover, then cancel if you want to move.
 
Papa Foxtrot said:
. Or you could ask your agent for those forms.
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Seriously, I know all of that, and that is exactly what I did, and why I am so frustrated.

No, these are not ISO forms that I can just find anywhere.
 
Geico266 said:
Cancel your policy, get a refund for the under amount, buy somewhere else, or turn around and buy a new policy from him and demand a copy.
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He apparently sent a "copy" to my co-owner when he placed the policy. I am skeptical it was the complete copy. But now he says he doesn't have a copy of that form. Odd. I will have to ask my co-owner if he has a copy. But I don't believe that he can't get a PDF copy of the missing form via e-mail.
 
Ask one more time. If you haven't already, do it in writing rather than over the phone. Politely explain that you have asked for this multiple times and if you don't get a full copy of the policy, he can expect you'll be looking for a new broker of record.

That's not legal advice. It's what I would personally do.
 
Call the insurance company directly. And don't do business with the broker in the future.
 
I'm very happy with my broker. Be glad to recommend her.
 
If your agent refuses to send a policy copy including endorsements, the threat of reporting to your state's office of insurance regulation will usually do the trick.
 
asechrest said:
If your agent refuses to send a policy copy including endorsements, the threat of reporting to your state's office of insurance regulation will usually do the trick.
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If I have to threaten my broker with enforcement action by the state to get him/her to comply with the law, that's going to be my last policy bought through that broker.
 
There is nothing worse than crap service. I would let the company know how the broker represents them, or lack of representation.

If you need another contact that provides excellent service here is who I use.

Gregg Ellsworth
Aviation Insurance Resources
P.O. Box 32
Frederick, MD 21705
Toll Free: 1-877-247-7769
fax: 1-301-682-9793
www.AIR-PROS.com
 
My broker emails the policy and always offers to mail a copy if I request one, which I normally don't. ;)
 
midlifeflyer said:
That's not legal advice. It's what I would personally do.
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Thanks. FYI, I am not looking for, nor do I need legal advice. :wink2: You may rest assured that you are completely absolved of any potential for the creation of an attorney client relationship.

As an aside, all of my requests have been in writing, via e-mail. I asked him for a complete copy of the policy, and in the last e-mail, noted the specific forms from the endorsement that was not sent.
 
asechrest said:
If your agent refuses to send a policy copy including endorsements, the threat of reporting to your state's office of insurance regulation will usually do the trick.
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This is more of a service issue that one that I really want to ratchet up to adminstrative.

I see so many jack-asses in my daily profession that always are looking for fights where none are necessary, I don't really have the stomach for it in my own personal business dealings.
 
So now he's going to mail me a copy he printed off from the carrier's web site. I just think this comes down to him not being used to people that actually want to read their insurance policy, not any steadfast refusal to provide me information. Still, frustrating.
 
Ron Levy said:
If I have to threaten my broker with enforcement action by the state to get him/her to comply with the law, that's going to be my last policy bought through that broker.
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No doubt, and rightfully so. But he still needs his policy in the meantime. Surprisingly, loss of a piece of business is not terribly motivating for some agents; it's a strange phenomenon that I don't understand. I'm in the industry, so I'm just relaying what may provide some extra leverage. No agent wants an inquiry from the state regulator, and at least here in Florida, the OIR sends official inquiry with response required for every case.

Depending on how the broker is set up a call to the supervisor or owner might work as well. Sometimes you get an account manager that can't be bothered.
 
PPC1052 said:
This is more of a service issue that one that I really want to ratchet up to adminstrative.

I see so many jack-asses in my daily profession that always are looking for fights where none are necessary, I don't really have the stomach for it in my own personal business dealings.
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I understand, and it was less a suggestion that you do so, and more a statement of options. I want sure what your scenario was, but some scenarios would call for it.
 
PPC1052 said:
Thanks. FYI, I am not looking for, nor do I need legal advice. :wink2: You may rest assured that you are completely absolved of any potential for the creation of an attorney client relationship.
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Whew! I was worried there for a moment!
emoticon-0141-whew.gif
 
I second Air Pro's. Great outfit.
 
asechrest said:
No doubt, and rightfully so. But he still needs his policy in the meantime. Surprisingly, loss of a piece of business is not terribly motivating for some agents; it's a strange phenomenon that I don't understand. I'm in the industry, so I'm just relaying what may provide some extra leverage. No agent wants an inquiry from the state regulator, and at least here in Florida, the OIR sends official inquiry with response required for every case.

Depending on how the broker is set up a call to the supervisor or owner might work as well. Sometimes you get an account manager that can't be bothered.
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Let me share a fact I witnessed when I lived in Fla... Was there for the first 30 years of my life and can attest to the "less then ethical" business people...

My next door neighbor was a insurance agent. His dad started the business and gave it to the "son"... This guy /druggie/ deadbeat had a perfect scam.. He would sell hundreds of of auto and homeowners policies a month... 99% of the time he would pocket the premium and give the customer a fake copy of a name brand insurance company's policy... He bet the odds of having a claim were less then the chance he had to use his Errors and Omision , = E&O agency policy..... That SOB made more money in the 10 years he lived next to me then any crook should make in a lifetime.....

Point I am making is.................... There is a chance this agent is doing the same scam.. :dunno::dunno::rolleyes:
 
Yes, these cases still pop up every now and then. Here's one just this year. I don't know how you'd ever get a wink of sleep. The thought of an honest E&O claim keeps me up at night. I can't imagine knowing I had huge chunks of business without a legitimate policy in force.

If I had never seen a binder or an official policy copy from my agent, I'd be very interested in demanding my documents as quickly as possible. That's part of the reason I offered reporting to the OIR as an option, in case the scenario called for it.

N801BH said:
Let me share a fact I witnessed when I lived in Fla... Was there for the first 30 years of my life and can attest to the "less then ethical" business people...

My next door neighbor was a insurance agent. His dad started the business and gave it to the "son"... This guy /druggie/ deadbeat had a perfect scam.. He would sell hundreds of of auto and homeowners policies a month... 99% of the time he would pocket the premium and give the customer a fake copy of a name brand insurance company's policy... He bet the odds of having a claim were less then the chance he had to use his Errors and Omision , = E&O agency policy..... That SOB made more money in the 10 years he lived next to me then any crook should make in a lifetime.....

Point I am making is.................... There is a chance this agent is doing the same scam.. :dunno::dunno::rolleyes:
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Understand that my co-owner placed the policy, not me. So, I am asking for a second copy. There is no reason to suspect fraud.

Insurance agents think they know the policy terms, and for the most part, they do. It's just they don't always know all of the exact details regarding obscure issues, or how the policy language is effected by case law. If they have a CPCU rating, they will know more than the average bear. But regardless, it's trust but verify.
 
asechrest said:
If I had never seen a binder or an official policy copy from my agent, I'd be very interested in demanding my documents as quickly as possible. That's part of the reason I offered reporting to the OIR as an option, in case the scenario called for it.
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He sent the dec sheet, which is the only part of the policy that's personalized with the named insureds and hull information. Of course, the company representatives signature is electronically reproduced. The rest is just copies of forms. I am not sure that the broker couldn't provide forged copies of everything if he was so inclined. Consequently whether he will or won't give copies is only marginally probative of fraud.
 
PPC1052 said:
He sent the dec sheet, which is the only part of the policy that's personalized with the named insureds and hull information. Of course, the company representatives signature is electronically reproduced. The rest is just copies of forms. I am not sure that the broker couldn't provide forged copies of everything if he was so inclined. Consequently whether he will or won't give copies is only marginally probative of fraud.
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For what it's worth, I think your current course of action is the appropriate one. Just got a little carried away with stories of my vocation. :D
 
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