Why insurance agents should educate their customers, part 2
Back in January, I discussed the importance of educating your customers and prospects.
A recent National Association of Insurance Commissioners (NAIC) survey reinforces this plea.
According to the survey, most Americans think they are knowledgeable about insurance, but survey results prove otherwise. Of the 1,000 Americans adults who took the test, a majority flunked it, with a 40 percent average score.
Some of the NAIC’s key findings:
Health insurance – 58 percent of respondents were aware that health insurance will not cover living expenses if they become disabled and cannot perform their job.
Auto insurance – Only 41 percent knew that auto insurance does not automatically cover a rental car.
Homeowners insurance – Less than 50 percent of those surveyed knew they could legally own a home without homeowners insurance (although lenders will not allow it).
What does this mean to insurance agents? Sounds like there are people who don’t understand what they’re purchasing and agents have the opportunity to reverse this trend through guidance and sharing knowledge and expertise.
Anyone have thoughts or comments on these survey results?