Social Media and Insurance Rates

Social Media has taken the world by storm.  Everyone is on social media and while it’s a great way to share photos and information, Insurance companies are now taking it into consideration when providing insurance policies.  The average person probably doesn’t have much to worry about when shopping around for a quote, but if you’re looking to sign a serious policy with big numbers, you can expect the insurance agency to do their homework.  They aren’t discriminatory either. Be it life insurance, homeowners, small business or liability, insurance companies will look into social media to determine now if you are a big risk or not.  Here are the top things insurance companies will look at when determining your eligibility for coverage.

Relationship Status

Your relationship status is a big deal with underwriters for determining coverage.  If you happen to be lying just to get a better deal, there’s a good chance you will be penalized.  Underwriters might take a look at your status to makes sure you aren’t lying about the fact that you’re married.

Bad Habits

Have you been caught drinking or smoking on your social media sites?  These health reducing habits will definitely be considered when you go shopping for life insurance.  Even things such as liking alcohol brand pages and cigarette companies can be a red flag.  If your seen doing some other reckless things like driving with no seatbelt or riding a motorcycle without head gear health insurers might deny you benefits in the event of an accident.

Photos of you Being Active

Are you currently involved with a lawsuit or disability claim?  Did you recently collect benefits due to workers comp?  Insurance companies will scour the web for photos of you doing anything active as a way of claiming fraud against you.  Additionally, if photos are taken of damage to your home and then when the adjuster comes to appraise it, it’s worse – chances are they will deny your claim.

No one said you had to delete all your social media accounts.  Just be conscious of what you post and realize that Social Media and Insurance Rates are connected, maybe not in every case, but it can play a factor.  It could be the difference between being covered or not, and that my friend is a problem you don’t want to have.

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