Consumer Guide:
Auto & Homeowners Insurance

NAOSA Gold Standards of Professional Practice™

Auto & Homeowners Insurance

The focus of the NAOSA research into auto and homeowners insurance is in honesty of pricing and transparency of what is being covered. Insurance can be very confusing with all the different options and it is very easy to get misquoted or simply misunderstand the quote that was given to you. For example, when receiving quotes, an unscrupulous agent may lower your coverage amount or increase a deductible in a certain portion of your policy in order to be competitive or “cheaper” than the competition.

The National Association of Senior Advocates member professionals have identified two business practices in the auto and homeowners insurance industry that make up our Gold Standards of Professional Practice. The goal of the following Gold Standards is to eliminate bait and switch techniques that are utilized at times to undercut the competition.

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Policy Replacement and Comparison

Some insurance agents will not quote similar coverage when attempting to replace a competitor’s policy. Instead, the agents will suggest less coverage in multiple areas, which will have the obvious effect of a lower premium. In many situations, the current policy that is the target for replacement is no more expensive than the replacement policy if the agent performed an “apples to apples” comparison. Therefore, when comparing policies for potential replacement, all comparisons will be made utilizing a “line-by-line” comparison method. Comparison quotes will be for the exact amount of coverage currently in force. Only after such comparison may recommendations be made for decreasing or increasing current coverage.

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Quoting State Coverage Minimum Auto Insurance

At times, unethical agents will quote the minimum coverage required by the state in order to win business. In reality, the vast majority of drivers will be required to carry coverage over and above these minimums. This is a classic “bait and switch” scenario. At no time will a NAOSA member utilize this tactic by quoting state minimum coverage unless specifically asked to do so by the customer.

Are you a professional in the auto and homeowners insurance business?
We welcome your constructive input to assist in the protection of all consumers. Please contact us.

NAOSA Gold Standards of Professional Practice™

Auto & Homeowners Insurance

The focus of the NAOSA research into auto and homeowners insurance is in honesty of pricing and transparency of what is being covered. Insurance can be very confusing with all the different options and it is very easy to get misquoted or simply misunderstand the quote that was given to you. For example, when receiving quotes, an unscrupulous agent may lower your coverage amount or increase a deductible in a certain portion of your policy in order to be competitive or “cheaper” than the competition.

The National Association of Senior Advocates member professionals have identified two business practices in the auto and homeowners insurance industry that make up our Gold Standards of Professional Practice. The goal of the following Gold Standards is to eliminate bait and switch techniques that are utilized at times to undercut the competition.

Z

Policy Replacement and Comparison

Some insurance agents will not quote similar coverage when attempting to replace a competitor’s policy. Instead, the agents will suggest less coverage in multiple areas, which will have the obvious effect of a lower premium. In many situations, the current policy that is the target for replacement is no more expensive than the replacement policy if the agent performed an “apples to apples” comparison. Therefore, when comparing policies for potential replacement, all comparisons will be made utilizing a “line-by-line” comparison method. Comparison quotes will be for the exact amount of coverage currently in force. Only after such comparison may recommendations be made for decreasing or increasing current coverage.

Z

Quoting State Coverage Minimum Auto Insurance

At times, unethical agents will quote the minimum coverage required by the state in order to win business. In reality, the vast majority of drivers will be required to carry coverage over and above these minimums. This is a classic “bait and switch” scenario. At no time will a NAOSA member utilize this tactic by quoting state minimum coverage unless specifically asked to do so by the customer.

Are you a professional in the auto and homeowners insurance business?
We welcome your constructive input to assist in the protection of all consumers. Please contact us.

CONSUMER GUIDES

Be Sure to Review All the NAOSA Gold Standards of Professional Practice™ Before Making a Buying Decision

Simply click on the industry to access the Consumer Guide

Auto and Home Insurance Owners

Home Care & Assistance

Insurance & Investments

Legal
Professionals

Long-Term Care Insurance

Medicare Supplement & Medicare

Real
Estate

Reverse
Mortgage

Advantage
Insurance

Senior Living Communities

Home Improvement / Home Repair

Senior Living Brokers/Consultants

CONSUMER GUIDES

Be Sure to Review All the NAOSA Gold Standards of Professional Practice™ Before Making a Buying Decision

Simply click on the industry to access the Consumer Guide

Auto and Home Insurance Owners

Home Care & Assistance

Insurance & Investments

Legal
Professionals

Long-Term Care Insurance

Medicare Supplement & Medicare

Real
Estate

Reverse
Mortgage

Advantage
Insurance

Senior Living Communities

Home Improvement / Home Repair

Senior Living Brokers/Consultants

NAOSA Guarantee

NAOSA requires members to act in utmost good faith when working with clients. Members must agree to work under “the fiduciary standard” and act in a way that the member reasonably believes to be in the best interest of the client. In addition to compliance with all federal and state regulations, each professional member of the National Association of Senior Advocates must follow and act in accordance with a standard of guidelines called the NAOSA Gold Standards of Professional Practice™.

The NAOSA Gold Standards have been created by professionals in their specific fields. The NAOSA Gold Standards strive to eliminate any gray areas that may exist in various business practices. Although these gray areas may be legal in many cases, NAOSA experts agree that they generally do not serve the best interest of the consumer.

The NAOSA Gold Standards of Professional Practice™ also strive to offer transparency in various professions, and aim to educate consumers on the various business models of these professions. Consumers must have information to make an educated decision when considering a specific product or service.

Members who are found not in compliance with these standards will be censured, with membership subject to revocation.

NAOSA Guarantee

NAOSA requires members to act in utmost good faith when working with clients. Members must agree to work under “the fiduciary standard” and act in a way that the member reasonably believes to be in the best interest of the client. In addition to compliance with all federal and state regulations, each professional member of the National Association of Senior Advocates must follow and act in accordance with a standard of guidelines called the NAOSA Gold Standards of Professional Practice™.

The NAOSA Gold Standards have been created by professionals in their specific fields. The NAOSA Gold Standards strive to eliminate any gray areas that may exist in various business practices. Although these gray areas may be legal in many cases, NAOSA experts agree that they generally do not serve the best interest of the consumer.

The NAOSA Gold Standards of Professional Practice™ also strive to offer transparency in various professions, and aim to educate consumers on the various business models of these professions. Consumers must have information to make an educated decision when considering a specific product or service.

Members who are found not in compliance with these standards will be censured, with membership subject to revocation.

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TESTIMONIALS

What Our Members Say

An independent organization like NAOSA is really needed. It’s so hard to find the right information these days and even harder to find businesses and professionals who I know I can trust. Thank you NAOSA!

Retired CPA

Lakeland, Florida

The NAOSA consumer guides are great. Clear explanations, without all the complex language, is extremely important in helping me make the right decision.

Retiree

Potomac, Maryland

NAOSA has brought me tremendous value when networking with like-minded professionals, it has really helped me stand out from the crowd. I highly recommend it.

NAOSA Member

Austin, Texas

In a world filled with mistrust and spin, honesty and integrity offer a tremendous opportunity for professionals and businesses who do business the right way.

Anthony L. Cinotti, Founder

National Association of Senior Advocates

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