There are many different approaches to buying insurance. But along with a lot of good approaches, there is an equal amount of bad ones. The best thing you can do is to follow your gut and listen to experts who have experience in the insurance field. Here are some bits of advice we have heard in the past. We would like to offer our opinions on them as well:
- Only purchase the minimum insurance required by law. This plan could backfire when a claim situation arises. Most minimum requirements only cover liability. And most liability claims exceed the limits set forth on minimally required insurance policies. That means you could be paying a lot out of pocket for claims, even with your insurance policy in place.
- Always go with the cheapest rate. There is a reason why some carriers can offer lower rates than others. What you might be able to save in premium, you might lose in customer service or benefits. Compare everything, not just price, when comparing insurance policies.
- If you can find a cheaper insurance policy, cancel your current policy immediately. Instead of switching carriers right away, talk with your agent about the possibility of a rate adjustment on your current policy. You may be eligible for additional discounts or rate reductions that were not available when you originally applied.
- A little white lie on your insurance application to get a lower rate is no big deal. In fact, it IS a big deal. Insurance fraud is a federal offense that could not only result in policy cancellation, but criminal charges as well. Always tell the truth and let your agent find a good rate based on your application.
Call us to get the best policy to fit your lifestyle. We want to be sure you have all the coverage you need at a cost that is reasonable to you and your family.