⚡ Key Takeaways
- These nine mistakes collectively cost Connecticut families an estimated $2,000 to $8,000 or more per year in overpaid premiums, missed subsidies, coverage gaps, and lost savings opportunities—compounding over decades into five- and six-figure financial consequences.
- Most consumers do not realize they are making these mistakes because the wrong broker has no incentive to point them out—the broker benefits from the status quo, not from correcting it.
- Every mistake is avoidable with the right broker selection—and the right broker selection costs nothing because broker services are free to the consumer.
- Connecticut
- An
- broker is only as valuable as the carriers they represent—an agent with five appointments shops 15% of the market, while one with thirty provides genuine comparison shopping.
- A free coverage review from a comprehensive broker can identify $500 to $3,000 or more in annual savings for the majority of new clients—and takes approximately 30 minutes.
- We Find Your Insurance built our practice specifically to prevent every mistake on this list—because our business thrives when clients receive maximum value, not when they overpay.
Frequently Asked Questions
How do I know if my current insurance broker is making these mistakes?
Ask yourself these diagnostic questions: When was the last time your broker contacted you proactively (not in response to your call)? Can your broker tell you how many carriers they compared before making your current recommendation? Did your broker explain why they recommended your specific plan over named alternatives? Does your broker handle all of your personal insurance lines or only one? Can your broker explain Covered CT and Connecticut’s Medigap underwriting rules? If you answered ‘no’ or ‘I do not know’ to two or more of these questions, your current broker relationship may be costing you money.
Is it difficult to switch insurance brokers?
Switching brokers is one of the easiest changes you can make in your financial life—and one of the most impactful. Your existing policies remain in force regardless of which broker services them. You do not need to cancel anything or restart coverage. You simply authorize your new broker as your agent of record with each carrier, and they assume service responsibility for your existing policies while optimizing your coverage going forward. For products like health insurance and Medicare, switching typically happens during the next enrollment period. There is no penalty, no fee, and no coverage disruption.
Can a free coverage review really find savings?
In our experience, the majority of new clients who come to us with existing coverage have at least one actionable optimization—typically worth $500 to $3,000 per year. The most common findings include: Medigap policyholders paying $100 to $200 per month more than the cheapest carrier for identical standardized benefits, health insurance enrollees in Bronze plans when Silver with CSR would cost less total, life insurance policyholders paying Standard rates when a different carrier would offer Preferred for their health profile, and residents who qualify for Covered CT or Temporary Premium Assistance but were never enrolled. A free review costs nothing and takes approximately 30 minutes.
Why would a broker help me for free if they are not earning a commission on my existing policies?
When we review your existing coverage and identify optimizations, several outcomes generate commissions: if we move your Medigap to a cheaper carrier, the new carrier pays us a commission. If we re-enroll your health insurance in a better plan, the marketplace carrier pays a commission. If we identify uncovered needs (disability, long-term care) and you choose to address them, those new policies generate commissions. Even for policies we review but do not change, the relationship we build through the review leads to future business—when your needs change, when family members need coverage, and when you refer friends and colleagues.
What should I bring to a coverage review?
Bring whatever you have readily available—do not delay the review because you cannot find everything. The most useful items include: copies or policy numbers for all existing insurance policies (life, health, Medicare, disability, long-term care, annuities), your most recent tax return or current income estimate (for subsidy analysis), a list of current medications with dosages (for formulary review), names of your primary care physician and key specialists (for network verification), and any specific concerns or questions about your coverage. If you cannot locate some of these items, we can often pull relevant information from carrier systems once you authorize us.