This week, I once again had the pleasure of sitting down and chatting with the Queen of Insurance, Collette Biedenkopf from TWFG Insurance. Collette is “THE Insurance Advisor Extraordinaire” and one of our trusted VIP Partners. She was kind enough to offer some important advice that I am here to share with you, Gumbonation. So, let’s dive into the questions that she says everyone should be asking their insurance advisor:

What is the financial rating of the insurance company or companies they represent?
Insurance companies’ ratings are an indicator of their financial strength and ability to honor their contractual obligations to policyholders. It is for this reason that you should always inquire about their financial rating before delving into a coverage plan with them.

Is the particular insurance company admitted in the state?
An admitted company has to contribute a certain amount of money to a fund. The fund is set up so that if the insurance company were to go bankrupt, there would be a fund available to pay the client claim. If they are not registered with the state and they were to go bankrupt, you as a client would not be compensated in any way for your loss.

What is the company’s history with handling claims? 
Insurance companies must act in good faith when handling a claim. Is this company doing so, or are they constantly having issues when dealing with claims? It is your responsibility to do your homework. That is why it is so important to do business with a trusted and knowledgeable insurance advisor.

We want to thank Collette for this awesome advice. You can go to our website and click on our VIP Partners/Sponsors for a link to Collette’s website or visit her site directly at .  If you would like to contact Collette, you can reach her at (985) 951-2070. And as always, we are here at Mortgage Gumbo to help. You can always contact me, Dwayne Stein at 504-207-7600 or at [email protected].