It may be time to shop around for Insurance coverage

Are you getting the most from your insurance?

•  September 18,  2015

Is your auto insurance plan doing everything for you that you need? Does it provide adequate coverage? Do you have a good rapport with your agent? Is the price right? These are some of the questions you should ask yourself. Be sure that you’re getting a good deal for what you pay. Don’t get shortchanged. Shop around to see if some other company can offer you a better deal on your auto insurance.

Premiums

A major concern should be whether or not you are getting the most for your money. Shop around to compare what types of premiums different insurance companies offer and what they cost. Of course, the lowest priced insurance doesn’t necessarily equate to the best deal, so be sure and compare their customer complaint ratio and customer satisfaction as well. You might also give some of these companies a call and see which ones seem to be the most willing to discuss different options with you.

Customer Service

What kind of service are you getting from your auto insurance company? Is their call-in center easy to navigate? Do they take the time to explain details to you? Is their service prompt and expedient?

Customer service is one of the most important aspects of your relationship with your insurance company. If you don’t feel that you are getting the best service, then make some comparisons with other companies. Consumer information regarding insurance companies can be found at the National Association of Insurance Commissioners website. There you can find financial data and consumer complaints for various insurance companies.

Financial Stability

An important question to ask, which many people ignore, is whether or not your insurance company is financially stable. How long have they been around? Are they established? One thing you can do is to go to the website for A.M. Best to find out how your current insurance company stacks up against others on the market.

Independent Insurance Agent

Another option would be to go to an independent insurance agent and seek advice. An independent agent can be a great resource as well as an expert who can offer advice on any questions you may have.

Insurance is a very competitive industry. For most of us, we are happy to stick with the what we have, because it is working for us. Also, changing to another company doesn’t necessarily mean that you will get better coverage or service. However, it is a smart financial practice to shop around periodically and see if you can save money by changing insurance carriers. Just be sure to do the proper research to know that you are going with a company that will not only save you money, but serve you well, too.