Apples to Apples Quotes

“Apples to Apples”…  What Does that Really Mean?

In our industry we often get inquiries to provide a quote for a customer based on “Apples to Apples”. Now we all know the intention of the statement, but what does that mean to an insurance professional? Asking your Box Insurance representative to provide a “quote” on coverage that is based on another agent’s quote or an existing policy is asking us to trust that someone else has done a good job of determining what your needs actually are.

At Box Insurance Agency, it is our mission to protect you and your property, and to make sure you Experience 360˚ Protection℠. Think about it as a “second opinion”. If you were to seek a second opinion from a medical professional, would you want them to diagnose you based on another doctor’s findings or would you have them do their own evaluation to determine your needs? Our protection begins by looking at what you have at risk.

Comparing premiums at inadequate limits is not a good measurement of insurance protection or even price, for that matter. The real savings will be when you have the right coverage at claim time…

Consider this scenario:
Suppose you are carrying minimum required limits on your auto policy. In Texas, this means that you have a limit of $25,000 per person and only $50,000 total for any/all bodily injury to others. Now suppose you are distracted in stop-and-go traffic and the car in front of you stops abruptly. You don’t hit the brake in time and WHAM… you have run into the back of that vehicle. Now in that car in front of you is an adult couple who is taking grandmother back to the nursing home after a visit. Both Mom and Dad will claim to have whiplash, but Grandma, amongst other injuries to her frail body, gets so upset she suffers a heart attack and is rushed off to the hospital to be treated. She is in intensive care for a week. Think about this; you will have a total of $25,000 to apply to Grandma’s medical bills. The rest of the cost will be out of your pocket. What about Mom, Dad and Grandma’s mental anguish that they suffered due to the accident? Who is going to pay for their visits to the psychiatrist and the time off work?—YOU ARE!

Let’s back up to when you asked for that “apples to apples” quote. When you took the lower priced policy based on the coverage that you currently had instead of looking at what your protection needs were, perhaps you saved some premium, but you cost yourself Grandma’s medical bills! Perhaps that same comparison at higher limits of liability, where you would have been better protected, would have been different. Given the opportunity, our Protection Specialist, will take you through a 360˚ Protection interview and make some recommendations based on the discoveries. You will then get a chance to select from a menu of options to best suit your budget and your protection needs. It is possible to save money and be protected right-don’t be fooled into thinking Apples to Apples is the best way to shop for insurance!