8 Insurance Questions to ask your Financial Advisor

When speaking with a financial or insurance advisor about their best practices for navigating the insurance world, here are a list of questions to help guide your conversations.

Understanding their approach:

  1. What is your philosophy on insurance coverage? Do you prioritize comprehensive coverage or cost-effectiveness?

  2. How do you stay up-to-date on the latest insurance trends and products?

  3. Do you specialize in any specific types of insurance (e.g., life, health, property)?

Tailoring coverage to your needs:

  1. How do you analyze my individual needs and risks to recommend the right insurance policies?

  2. Are there any coverage gaps in my current policies that you would recommend addressing?

  3. Do you offer any risk management strategies beyond simply choosing the right policies?

Communication and service:

  1. How can I expect you to communicate with me regarding policy changes, renewals, and claims?

  2. What level of support can I expect from you if I need to file a claim?

Extra questions:

  • What are your qualifications and experience in the insurance industry?

  • How do you compare your services and fees to other advisors in the market?

Remember, the best way to get the most out of your conversation is to be specific and open about your concerns and priorities. Don't hesitate to ask follow-up questions based on your advisor's answers.

Ted Middleton