Insurance Agent Offered You a Surplus Policy? Here’s Why You Should Think Twice!

🚨 Is Your Cheaper Insurance Policy Actually a Trap? 🚨

In this video, Mendy from Panther Public Adjusting breaks down the risks and benefits of surplus insurance policies. You might be offered a cheaper policy, but is it worth it? We dive deep into what surplus policies really are, the potential hidden costs, and what you need to watch out forβ€”like binding arbitration and the lack of appraisal options. πŸ€”

Before you sign anything, make sure you understand all the details! Mendy shares some critical tips for reviewing your policy, and we explain when a surplus policy might actually make sense. πŸ’ΌπŸ’‘

πŸ“§ Got Questions?

Email us at: questions@pantherpa.com

πŸ“ž Call us: 833-PANTHER (833-726-8437)

Like, share, and subscribe for more helpful insurance tips! πŸ””

Youtube Chapters:

00:00 – Introduction: Surplus Policy Offer

00:06 – What is a Surplus Policy?

00:19 – The Risks of Non-Domestic Insurance Carriers

00:36 – A Real-Life Example: A Homeowner’s Surplus Policy

01:01 – Why the Appraisal Option Matters

01:14 – What is Binding Arbitration?

01:35 – The Problem with Arbitration in Rhode Island

02:14 – Is a Surplus Policy Always a Bad Idea?

02:38 – When a Surplus Policy Might Make Sense

02:45 – How We’ve Helped Clients with Surplus Policies

02:59 – What You Should Do Before Agreeing to a Surplus Policy

03:03 – Contact Us for Policy Reviews

03:09 – Closing & Call to Action

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