Insurance Awareness Day
Madison, WI—Today is Insurance Awareness Day where individuals are encouraged to consider their insurance needs for a healthy financial future.
"Wisconsin citizens are fortunate to benefit from a robust insurance market that provides a great deal of consumer choice and competitive rates," said Governor Scott Walker. "In fact, Wisconsin leads the nation as the third largest insurance market in the country."
Governor Walker issued a
proclamation declaring today "Insurance Awareness Day" across the state of Wisconsin.
"Insurance Awareness Day is an opportunity for consumers to review their insurance coverages to ensure protection is there when individuals, families and businesses are hit with financial hardship," said Commissioner Nickel. "When considering insurance coverage, it's always a good idea to shop around. A few hours of research can save you hundreds of dollars a year."
Consumer Tips
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Read your policy. An insurance policy is a legal contract. It is written so your rights and responsibilities, as well as those of the insurer, are clearly stated.
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Know what your needs are and find an insurer that meets your needs. Some insurance companies insure not only a car, but a home, life and health. Buy adequate coverage, but do not buy more than you need.
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Comparison shop. Prices for the same coverage can vary greatly.
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Confirm the company and agent are licensed. Find the name of the insurance company or companies involved in the plan. In order to sell insurance in Wisconsin, companies and agents must be licensed. To confirm the credibility of a company or agent, check with OCI to see if the company or agent is licensed. Licensing information about agents and companies can be found on OCI's Web site at oci.wi.gov or by calling 1-800-236-8517.
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Be wary of scams and be careful when giving out personal information. A licensed insurance company should give you information about their plan up front without requiring any personal information like credit card numbers.
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Keep detailed records. Get all rate quotes and key information in writing and make sure all of your insurance information is located in a safe place where you can find it.
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Problem with insurance. If you are having a problem with your insurance, you should first contact your agent or the insurance company that sold you the policy. If you do not get satisfactory answers from the agent or company, you may
file a complaint with OCI. OCI will investigate the complaint to see if any insurance laws or rules have been violated.
Consumer Publications
OCI offers a comprehensive selection of insurance information for consumers. Publications include:
Additional Resources
There are many resources available if you have questions about obtaining insurance coverage. One option is to contact a licensed insurance agent or insurance company. You may also contact OCI with any insurance questions, concerns or complaints at oci.wi.gov or send an e-mail to
ocicomplaints@wisconsin.gov.
Created by the Legislature in 1870, Wisconsin's OCI was vested with broad powers to ensure that the insurance industry responsibly and adequately met the insurance needs of Wisconsin citizens. Today, OCI's mission is to lead the way in informing and protecting the public and responding to its insurance needs.