![]() ![]() Furthermore, a prospective insured 65 years of age or older is owed a duty of honesty, good faith, and fair dealing by an insurer, broker, agent, and others engaged in the transaction of insurance. It is illegal for an insurance agent, broker, solicitor or insurance company to misrepresent the terms or benefits of any insurance policy. Also, as your financial situation changes over time, it is important to review your insurance policies to decide if the same terms and types of insurance are still right for you. Purchasing insurance that meets your needs can be challenging sometimes a product is pushed on you, sometimes you can't get what you want. Fortunately, unless a senior has exhibited driving behaviors that are considered high risk, it is likely his age will only affect his coverage if he's unable to meet his state's medical requirements for obtaining and maintaining a driver's license.īack to Top Senior Insurance Bill of Rights (SIBOR)Īs a senior citizen, you have worked a lifetime to build up assets and want to take precautions to protect yourself and those assets. However, rather than deny coverage altogether most insurance companies will simply offer coverage at significantly higher rates. This usually means someone with multiple traffic violations such as a DUI or DWI convictions, and/or numerous at-fault accident claims. The most common reason an applicant is denied coverage is if he/she is considered a high-risk driver. If you should become ill or pass away, this will assist the timely processing of any claims made upon the policies.Ĭan Automobile Insurance Companies Deny Seniors Coverage?Īuto insurance companies can deny coverage for a variety of reasons but not just because you are a senior. Tell a trusted friend, family member, or financial advisor where you keep all your important documents, including your insurance policies. Use this opportunity to make sure the policy you received is exactly what you purchased and what you need. Don't delay opening your mail, as insurance information is often time sensitive. Use this opportunity to make sure the policy you received is exactly what you purchased and what you need.een 10 to 30 days. Most life and health policies have a "free-look" period of betwMost life and health policies have a "free-look" period of between 10 to 30 days. Also, be aware of duplicate coverage between policies you own and policies you are considering. Make checks payable to the insurance company or agency name. Don't buy coverage you can't afford, and never pay with cash. Also, be aware of duplicate coverage between policies you own and policies you are considering.y the best coverage that meets your needs and budget. It is important to buIt is important to buy the best coverage that meets your needs and budget. ![]() If an agent is unwilling to explain a policy to your satisfaction, then do not sign the application or buy the policy. It is always a good idea to have a record of what was said for future reference. ![]() Dishonest agents can take advantage and fill in the blanks without your approval.Īsk the agent questions and take notes for comparison. Omitting or falsifying information can cause the company to deny your claim or cancel your policy. Agents should never use high-pressure sales tactics.Īnswer All Questions on the Application Correctly It is not wise to purchase insurance at the first meeting. Never Be Pressured or Intimidated by an Agent If you are considering buying, reviewing, or replacing insurance, then the following insurance tips can be of assistance.Ĭall the California Department of Insurance at 80 to see if an agent or company is licensed to sell insurance in California, or you may check our website Each agent is required to print his/her license number on all business cards, quotations, and advertisements. Since your needs and financial situations change over time, it is important to understand and review your insurance policies to decide if the same policies are still right for you. Insurance can be one of the most important ongoing purchases you make to protect yourself and your family from financial hardship. Purchasing the right insurance that meets your needs can be challenging.
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