Paying For A Superstorm
http://thekojonnamdishow.org/shows/2012-11-12/paying-superstorm
Guest Host:
Marc Fisher
Superstorm Sandy ravaged much of the Northeastern seaboard, causing some $20 billion in property damage alone. Insurance companies, homeowners and businesses are now in the process of sorting out what's covered and what's not, and many people are finding they're on the hook for more than they expected. Our region may have dodged the worst of this storm, but experts say now's the time to make sure you've got the coverage you need.
Guests
Billy Simons
Owner, Rust Insurance Agency
Bob Hunter
Director of Insurance for the Consumer Federation of America, former Insurance Commissioner for Texas
Chris Graae
President, Insurance Information Institute
Comments
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Your guest just stated that "absolutely" there is a penalty for shopping around for auto insurance. Can you ask him to elaborate on what the penalty is and how that should be weighed against the benefits of shopping around?
Hi, I was a guest on the show today and know exactly what you're referring to. I think he'd misheard the question and was saying that absolutely you should shop insurance... not that you'd be penalized. Insurance only hurts your credit if you are cancelled due to non payment of premium. Not, shopping your coverage.
I hope that helps!
Billy Simons
Rust Insurance
Thank you very much for that clarification. I think the caller may have been concerned that shopping insurance coverage would affect a credit rating the same as applying for credit. I was concerned about that, so I appreciate your response.
Thank you,
Adrienne Wyker