How to Pick the Best Insurance Provider to Meet your Needs

29, Nov 2014 by Janica in Car Insurance     ,   No Comments

Buying car insurance

Buying insurance may not be the most enjoyable experience for consumers in fact some people would rather go for a root canal than buy new coverage but it is a reality we must face. When you are shopping for a policy you need to educate yourself on how the insurance sector makes their money and what they are actually giving you in return.

First a word of caution, if you are the type of person who hates shopping and just looks for the lowest premium regardless of the terms I have a little exercise to put things in perspective. Imagine I have a box that is about the size of a car, now I tell you this box costs 200 a month but you cannot look inside the box. There could be nothing there or it could be a new car or a bicycle who knows, would you promise to pay me 200 a month but never find out what it is that’s inside the box or if you will ever get it? Sounds foolish but this is what consumers do each and every day and unless you have money to burn you need to investigate these insurance providers.

The first thing you need to take you need to do when looking at a prospective insurance provider is find out whether the company has won any industry accolades or awards for their service. This is something that many people overlook much to their disadvantage. Any insurance company can take your money but you want to know that the firm you are dealing with has great customer service approach. If there are no awards it does not mean they are not suitable, use the search engines and type in the name of the company. This search is going to show you everything that was ever posted on the internet about the company. With those reviews you will know whether the company is decent or not.

Another consideration is the financial health of the insurance company, if you have bought coverage from a firm that is on the brink of bankruptcy you could find yourself in a serious mess. What you need to do is speak with an insurance broker who can tell you whether the insurer is solvent or not. Along with providing you this advice the broker can shop the market to find you the best terms on insurance. Not all brokers are created the same so speak with a few of them to get quotes; this will help you determine who truly has the lowest premiums for the maximum amount of coverage. These brokers have access to institutional rates that the average person could not access so you should work with them if you really want the best possible deals on insurance. Another option is using the Internet to find websites which review insurance policies and then provide you with a recommendation but most of these sites only have a limited range of options available.