We judge insurance on several factors: cost, ease of claims payment, and coverage flexibility.
There are many great insurance companies out there. The absolute best way to make sure you are getting the best policy for you is to request a quote from several companies and compare these factors.
During the process of finding an insurance policy that meets your needs, you will be evaluating a lot of information and it is best to try and stay organized. Keep records of cost (premium and deductible), reviews, coverage, etc. for each quote you receive. To see all of the information side by side, I suggest using an Excel Spreadsheet.
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Cost
Cost is a very important factor, especially with the current state of the economy. You need a policy that meets your specific needs, your financial needs included. To find an insurance policy that meets your budget, you will need to get a quote from several insurance companies and compare the cost.
The cost of the premium isn’t the only important factor. You also need to consider the deductible. In the unfortunate event that something happens, you need to think about what you would be willing to pay out of pocket.
As an example, let’s say you get a dent in your door and it would cost $800 to repair. If you have a $1,000 deductible, then it wouldn’t make sense to file a claim and you are stuck paying the $800 out of pocket.
It is wise to determine the cost of the premium for several deductible levels from each company. That way, you can find a premium cost and a deductible level that meets your needs.
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Ease of Claims Payment
The worst feeling ever is getting off of the phone with an insurance agent after an accident and hearing: “We don’t cover XXXX”. It doesn’t happen as much with car insurance claims as it does with homeowner’s insurance, but it can happen. You will also want to do some research to find out how long it takes a certain company to pay claims, and if there are any complaints regarding claim payment.
When choosing an insurance policy, ask whoever is writing your policy to send you a draft. Do this for each quote you received above. Make sure you read all of the policy details and if their is anything that doesn’t sound right, any situations where they won’t pay a claim, scratch that company off of the list. Even if the policy writer agrees to change the policy, when you are up for renewal in six months they could slip the condition back and you would be in the same boat. It is better to just avoid these types of companies.
Click below to find some top rated insurance companies in your area. When dealing with these companies, it is unlikely you will run into any of these issues.
Coverage Flexibility
As you will find, there are many options for insurance coverage. Your unique situation will determine whether what type of coverage you will need. There are the obvious things like full coverage vs. collision. You will also need to think about the small things, like coverage for cracks in your windshield, accidents that cause bodily harm to others, etc.
There are many options available and once you get all of your quotes lined up, you will want to compare these options side by side and select the ones that are right for you. The right insurance company should be able to craft a policy that fits your needs.
When taken together, cost, ease of claims payment, and coverage flexibility, you will be able to find an insurance policy that is right for you. To get started, simply follow the link below and complete a quote with each insurance company in your area to find the policy that is best for you.
