How should I choose a company?
There are four main considerations you need to take into account
when picking your insurance company. All are important:
- Price.
Many companies sell insurance policies and prices vary greatly
from one to another, so it really pays to shop around. Get at
least three price quotes from companies, agents and from the Internet.
Your state insurance department may publish a guide
that shows what insurers charge for different policies in various
parts of your state.
- Insurer stability.
Make sure that the company you buy from is financially stable
so you know they will be around to pay any claims.
The following companies rate insurance company strength:
- Service.
Your insurance company and its representatives should answer your
questions and handle your claims fairly, efficiently and quickly.
You can get a feel for this by talking to other customers who
have used a particular company or agent. You can also check with
your state insurance department to see if it makes
public a complaint ratio, which compares the number of valid complaints
with the company's share of policies in your state.
- Comfort.
You should feel comfortable with your insurance purchase, whether
you buy it from a local agent, directly from the company over
the phone, or over the Internet. Make sure that the agent or company
will be easy to reach if you have a question or need to file a
claim.
With Permission © Insurance
Information Institute, Inc. - ALL RIGHTS RESERVED -
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