Being licensed in a few states I can see different trends on how consumers treat the auto insurance market in their territory and by seeing these trends I've come to the conclusion that NYC is by far the least desirable place to offer your services.
This isn't because NYC is controlled by only one carrier or because one PIP claim can destroy your loss ratio, it's because of the mind set New Yorkers have about insurance.
I am constantly running into situations where insured's are not providing me with all the correct information such as household drivers and where they actually live.
I mostly came on here to rant but I also do have a situation that I would like you to comment on. I have a family friend insured that bought a car registered under his name but its actually the son who will be driving it. The son lives elsewhere in NYC so I told him that his son needs his own policy and to list him as additional registered owner on the vehicle. He said it will be too expensive and he wants to leave the car on his policy.
The car is already on the policy because my carrier added it when he called in but he didn't give the carrier the right info. What would you do here, would you go to your underwriter on this?
This isn't because NYC is controlled by only one carrier or because one PIP claim can destroy your loss ratio, it's because of the mind set New Yorkers have about insurance.
I am constantly running into situations where insured's are not providing me with all the correct information such as household drivers and where they actually live.
I mostly came on here to rant but I also do have a situation that I would like you to comment on. I have a family friend insured that bought a car registered under his name but its actually the son who will be driving it. The son lives elsewhere in NYC so I told him that his son needs his own policy and to list him as additional registered owner on the vehicle. He said it will be too expensive and he wants to leave the car on his policy.
The car is already on the policy because my carrier added it when he called in but he didn't give the carrier the right info. What would you do here, would you go to your underwriter on this?