Why Use a Insurance Coverage Checklist?

Agent Tips and Strategies

Why should you use an insurance coverage checklist?  There are three reasons to use an insurance coverage checklist:

  • E&O Prevention
  • Makes you look like a hero to clients
  • Additional sales opportunities will present themselves

E&O Prevention

In the last week I needed to complete my annual errors and omissions application process. To be truthful it’s almost as bad as compiling data for my business tax return.  I painstakingly pull data from my agency management system to compare that with the reports provided by the companies we represent, inevitably some of the data doesn’t match and several hours are invested to find out why.

One of the underwriting questions on the E&O application is whether or not the agency uses any type of checklist for coverage analysis?

How many agents really use coverage checklists?

I have never taken a poll but based on the feedback we received from new customers coming to our agency, I would hazard a guess that very few agents use coverage checklists.

A coverage checklist can prevent E&O Claims!

Very few clients ever take time to read their insurance policies, and when a claim occurs that’s not covered by their insurance policy the client might blame you or your agency and even go as far as filing a lawsuit against you!

A coverage checklist can help you document whether or not certain types of coverage was discussed and or offered. A coverage checklist can save your bacon!

I’m including an attachment for a coverage checklist that we have used in our agency in the past.    Take a look at this coverage checklist for homeowners insurance.  Feel free to use this as a guide to develop your personal coverage checklist, or if you would like one customized to your agency with a sign off form my graphic department can do that for a very small fee. ($50 or less) Call me for details or send me an email.

Click on: Pathway Coverage check list- Home Insurance web Version

In the next article we will discuss why using the coverage checklist can make you look like a hero to new clients.