Critical in this litigious society is adequate liability coverage. Individuals who neglect to consider adequate liability coverage sometimes find themselves vulnerable to risks regarding their lifelong savings.

As many insurance products are complex and traditional, it is the insurance agents who provide the critical, personal tie to customers.

Mr. Dinesh Tanna’s professionalism is confidence inspiring as he explains several of the intricacies in the way an individual chooses the right insurance plan.

Having been in the insurance business for over 20 years, some of them working with the most dependable Insurance companies in the country, all of his advice seems invaluable. Talking to him, one begins to appreciate the fact that despite the popularity and prevalence of Internet purchasing, valuable contributions made by insurance professionals is priceless.

"My main job would be to help the customer select the right coverage and navigate through the often complex claims process." Says Mr. Tanna. “There is a misconception that these services add cost to premiums, when in most of the cases it is not true.” He adds.

“First, you have to understand yourself and the risks to which you are vulnerable. Then some research, either on your own or with the assistance of an agent will help. Next, one has to the compare different programs and companies. Finally, implement risk management programs. And remember to review your insurance program every year!”

What about people who already have insurance companies serving their needs? I wonder.

“Most people have big insurance companies serving their needs. While I do not say that it is essentially a bad idea to have it that way, the advantages of having a personal one on one relationship with your insurance advisor is so much more beneficial. I can say with confidence that I have helped my clients save hundreds of dollars every month, adding up to several thousands a year, often just because of misclassifications. Most lay people are ignorant of simple money saving deals available. These may even provide more coverage!”

“The Indian community abroad is an educated lot, most of us know and understand risks and are particular about taking insurance. What is unfortunate is most of us don’t really get what we think we are receiving. That is where my services would come in. I can help my customers with important Insurance purchasing decisions, about the coverage to purchase, what limits to set and how much risk to retain.”

What should an average person like me know about different insurance plans, I ask Mr. Tanna?

“There are a lot of ways to save on the basics, like health, auto, life, property and casualty. Many among us are paying way more than we need to for these coverages. Sometimes without even switching your company you can save money by raising deductibles and taking advantage of all discounts for which you are eligible. Sometimes changing your company may be appropriate, how does one know? Having been in the business for so many years I have some idea of how the machinery operates. Everybody has a unique financial and risk profile, what works for one may not hold for another.”

“Life is not static. You are constantly growing, changing. Your business may be growing, your family changes, you get married have children. Insurance needs and pricing changes. You may have taken insurance much before these changes and may expect to reap the same benefits years down the line. Consumers should review their total insurance strategy at least annually. A significant change in your situation should trigger a more immediate review. The same is true of businesses.”

I ask Mr. Tanna to share some tips on insurance matters.

Says Mr. Tanna.

"The Standard Homeowners policy only provides limited coverage for Jewelry. It usually is around $1,000. Purchasing additional values can enhance this policy.

Most people are unaware that there is a difference between “Standard Replacement Cost and Guaranteed Replacement Cost”. ‘Standard Replacement cost’ will not necessarily pay the entire cost to replace a house in case of total loss.

On an auto policy all drivers including inexperienced ones must be listed properly. If a driver, living in the same household is not listed to drive a particular vehicle, in case of an accident; the insurance company may refuse to pay.

Make sure that backup of water and sewer is covered on your Homeowners insurance policy. Most people are unaware of the fact that it is not covered on a standard policy.

For a small amount one can purchase this coverage."

Mr. Tanna adds “ I have met with and talked to so many of my clients who are so interested in their plans but have no idea about what they can expect from their insurance agents. I believe that a client must expect expert advice from his insurance agent. As a professional it is my duty to apprise my client of the various options available.”

Mr. Tanna lives in Burlington with his wife and three children. He likes to be involved in community matters and enjoys community social events.

Lokvani thanks Mr. Tanna for talking with us and educating us on the various aspects of insurance coverages.

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