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How Does Insurance Broker Negligence Occur?

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When you trust an insurance agent or broker to help you choose the proper policy for your circumstances, you expect they will do everything possible to make sure your assets are protected in the event you need to use your insurance.

However, when an insurance broker fails to uphold his or her duty to provide adequate services and you are harmed as a result, you may be able to hold the broker accountable for negligence.

Read on to learn more about how insurance broker negligence occurs.

The Broker Fails to Pay the Premium

If you send money to the broker to pay your insurance policy’s premium, but he or she fails to make the payment and your coverage lapses, you may have an insurance broker negligence case.

The Broker Fails to Purchase Specific Coverage

If you ask a broker to purchase specific coverage, such as earthquake insurance, but the broker fails to do so, he or she may be held accountable for negligence.

The Broker Fails to Seek the Proper Business Coverage

If you own or operate a business and you have an insurance broker help with insuring your company, the broker has a duty to procure the proper coverage for your particular business. Failing to acquire the necessary and feasible policy for your business may result in insurance broker negligence.

The Broker Fails to Acquire Appropriate Homeowner’s Insurance

If you ask an insurance broker to help you purchase the appropriate homeowner’s insurance for your circumstances and your home is destroyed as a result of a disaster, the coverage must be enough to rebuild your home to its pre-loss condition. Failing to do so can result in insurance broker negligence.

If your insurance benefits have been denied due to broker negligence, call our Los Angeles attorneys at (866) 634-4525 or contact us online. We will fight to recover your full and fair compensation.