The insurance brokers in New York are generally good and you do not need to worry about it. However, scapegoats are in every field, and you may find a person, who has been involved in wrongdoings, mistakes, or faults. Sometimes, they offer you unexpected policy inclusions as well. In this situation, you may question the liability of the agent.
It is also possible that the insurance agent is not satisfied with your behavior or cannot fulfill your requirements. If it happens, he can mislead you in providing you the features that are not included in a plan. In such an event, the agent will not adhere to his duties. To deal with these agents, you have numerous options.
But the law may complicate the situation for you as well. Therefore, it is necessary to take necessary actions after examining all scenarios, which you may face during the proceedings. We will discuss these scenarios here, and guide you on how to deal with all of them.
First, you should learn the duties that an insurance broker New York performs on your behalf. Let us explore all of them!
According to law, there are numerous types of duties, which a broker needs to perform for the insured. We will discuss all of them.
- They have the responsibility to present those insurance coverages that exactly address the needs of the insured. For that, they need to identify the actual needs of the insurance buyer.
The broker also must notify those drawbacks or issues to the insured with an open mind and clear vision.
- He also needs to consider all defined needs that the buyer is interested to get. Insurance coverage is the biggest need that convinces the buyer more than anything other.
- Informing and explaining the policy to the insured is another major duty of the insurance broker in New York.
For example, you show interest in buying liability coverage for your business. In this situation, you need to pay the insurance premium. After a few years, you want to submit a claim against your insurance. But somehow, the insurance company denies it. The reality may be that there will be some policy exclusions that may become the hurdle in obtaining the claim.
It is also possible that the insurance broker has misguided you. Sometimes, there are some blind spots, which are not informed to you. In this case, you can sue the broker for wrong practices. The decision, in this case, will be in favor of you, and you can get the damage from the broker, equivalent to the amount that you were expecting against the claim.
Some Exceptions should be in mind!
The fact is that the insurance brokers do not need to advise you against your will. They only offer you those policies, which are available and near to your requirements. For example, if you were thinking that he would guide you to the coverage that you should get ideally but did not get it,
you would not be liable to sue against him. The insurance broker presents all the insurance policies, available in the market and is offered by the insurance companies. He will also explain the benefits and drawbacks of all as per his information.
Now, you need to decide the best policy that suits you more. You are also liable to pay the insurance premiums, as you were informed about it as well previously.
Still, you can sue if the broker has not informed you about the types of the insurance and amount of coverage. Some courts in the United States have given decisions regarding this issue in which they think that it is the imposed duty of the agent to guide his clients properly, and if he fails, he should be blamed.
Contact the insurance attorney in this situation
If you are facing the same issue or any other concern about the performance of your insurance broker in New York, you need to get advice from the insurance attorney. These are the right people, who understand the actual condition and guide you accordingly. Without prior consultation, we do not recommend you start the legal proceedings against the agent, as it can have counter effects as well.