I recently had an insurance salesman call to renew our polices. He talked me into taking extra cover on one policy to make up for one that id cancelled. He called at my business and i had to run between him & my customers as it was his only time to be able to see me, so it was a fluster. When i asked him how much xtra, he said what i thought was $50.00, he'd said it soflty & i asked him to repeat and i was sure that is what he said. It was not till next morn that we read it was actually an extra $500 to be direct debited from our account. We also saw where he was to make a very nice commission off the policies, which i had signed without knowing because he slipped it in with the policy update forms and as i realised later he had sat other papers on top so i could not see what i was signing, took advantage of me being busy. we cancelled the policy the next day and let them know we were not happy with the misleading antics. Is what he did illegal?
2007-10-02 01:45:23 · 6 answers · asked by dmaree 1 in Business & Finance ➔ Insurance
He most certainly did, he is required by federal law to disclose everything about your policy, not doing so is illegal and should be reported, this salesman should be fired.
2007-10-02 01:54:47 · answer #1 · answered by trey98607 7 · 1⤊ 1⤋
Misrepresenting a policy is illegal for any agent. I would suggest contacting your insurance carrier for the policy and providing them a summary. The call may result in the carrier making some concessions and/or assisting you in obtaining a broker of record change.
Word of the wise, read any fine print before you sign anything. Agents mistakes can result in significant financial exposures.
If remedies are limited with the carrier you can always file a complaint with your department of Insurance. This can lead to them loosing their license and/or appointments with the carriers.
2007-10-02 02:18:52 · answer #2 · answered by Dimples_in_NJ 3 · 0⤊ 0⤋
As I agree that he did this in "not great circumstances" I also feel that you need to take responsibility for the fact that you signed something without reading it or having it explained to you to your satisfaction. You should ALWAYS conduct business when you are able to take your time. In my opinion, you should be looking for an agent that feels the same way and who will look out for your best interests. What he did is NOT illegal as it was conducted in a "busy and hectic" enviornment and it is basically "he said she said" as to what he answered when you asked, and then YOU signed the papers. Find a new agent and ALWAYS do business when you have the time to read what you are signing. Good Luck!!
2007-10-02 02:16:46 · answer #3 · answered by Queen B 6 · 2⤊ 0⤋
I'd call it unethical, for sure, but likely not illegal - you did NOT give him the full attention, and you did NOT read the papers before you signed them.
You were lazy. He was unethical. You both share the blame for this.
But you're right to fire him. With the next agent, I hope you take time, undivided time, to know what you're getting, and read all the forms before you sign.
2007-10-02 05:14:59 · answer #4 · answered by Anonymous 7 · 2⤊ 0⤋
Your instinct is robust, it is not properly worth carrying collision. holding complete may well be 50/50 proposition because of the fact comp fees are often notably low. interior the tip, that could be a intense mileage motor vehicle, with a salvage identify, it is 14 years old. i might bowled over in case you'll be able to desire to get everywhere close to $3,000.
2016-11-07 01:06:33 · answer #5 · answered by ? 4 · 0⤊ 0⤋
Report him to the better business bureau, and your states attorney general. He was scamming you. I live in ny state. and once called the attorney generals office about a auto repair shop that ripped me off. They gave me my money back soon as they were contacted by the AG office. They will look into his past dealings also.
2007-10-02 03:42:01 · answer #6 · answered by canam 7 · 0⤊ 0⤋