Switching Agents, One Step at a Time
Your agent stopped replying, or the names on the paperwork all sound alike. Nothing changes until you sign, and you see what to check on a broker of record letter first.
What to Check Before You Switch
Your agent stopped replying. Or your producer moved, the book was sold, and the names all sound alike. Or a savings offer arrived and you cannot tell what it would cut.
- Who you have.
- Check who your agent is. The license record is public, and Licensing shows where to look it up.
- What you signed.
- Send us a copy of anything you signed, and we will read it back to you.
- What an offer quotes.
- Ask to see the coverage the offer quotes, and put it beside your current coverage line by line.
Nothing changes until you sign.
Before You Sign a Broker of Record Letter
- The letter.
- A broker of record letter is a written statement you sign that tells your insurer which agent represents you.
- Before you sign.
- Before you sign, we read the letter back to you.
- Your prior agent.
- Whether your prior agent is told depends on the contracts involved. You are told what to expect before you sign.
- Your renewal date.
- Start with the date your policy ends. It sets how much time you have to decide.
State Facts
In New York, broker of record letters
- The New York Department of Financial Services has stated that a broker of record letter is a written statement signed by an insured, that it is not a creation of statute or regulation, and that no notification requirements relate to it.
- The Department’s opinion is dated December 1, 2003.
Frequently Asked Questions
What does a broker of record letter do?
It is a written statement you sign that tells your insurer which agent represents you. Nothing changes until you sign, and before you sign we read the letter back to you.
Will my current agent be told?
That depends on the contracts involved. You are told what to expect before you sign.
I am not sure which agency I signed with. How do I check?
Look up the name on your paper in the public license record, which Licensing points to. Send us what you signed, and we will read it back to you.
How do I find out who my insurer is?
Look at the declarations page of your policy, which names your insurer. Send it to us and we will read it back with you.
A savings offer arrived. How do I compare it?
Ask to see the coverage the offer quotes, and put it beside your current coverage line by line. The price means little until the two lists match.
My agent stopped replying. Who can I call?
Call (203) 604-0722 or text (203) 819-7059, or email dwenz@verisrisk.net.
Send Us Anything You Were Asked to Sign.
Request a quote, and a second look at your renewal comes before any decision.
