The rules for finding an insurance plan most suited to you aren’t driven just by price; there are a million things to factor in. You want to choose something that’s not just affordable from the get go, but will continue to be affordable when disaster strikes. So this isn’t as much about cutting corners as it is about optimizing and personalizing. What’s most affordable for someone else need not be the most affordable for YOU! Keep the following in mind:
- Know What You Need.
You’re getting insurance for a specific purpose – protection against the uncertain. It’s not just an item you’re checking off your life to-do list. It’s a substantial and important decision that has to be tailored your specific and evolving needs. If you’re living in a regulated flood zone, and didn’t sign up for flood insurance simply because it wasn’t a default option in your home insurance policy, then the years of conscientiously paying your premium aren’t you help you the next time a hurricane drops in for a hello.
- Compare What You Can Get.
Just because something is cheap doesn’t mean it’s the best for you. You might very well go for policies with premiums that are higher than the lowest offered but which still fall comfortably into your insurance budget. Are you being offered a combination home-life or home-auto or even a home-auto-life policy by companied like Joan Polec? The discounts on them had better be awesome enough to make up for the inflexibility you’ll have to suffer in the future. Term life policy looks like the better bet when going for a mortgage, but what’s the payoff of your no-return 20 year long investment when compared to a whole life plan that’s building cash value for your retirement? Be very discerning!
- Review Forums And Blogs
Again, the cheapest deal isn’t necessarily the best one for you. You can be sure there are many disgruntled customers who thought that way and paid for it by ending up with a sub-standard scheme that was nowhere near what they needed. You know what? Those people are a unique sort of resource for you – the Internet is everybody’s favourite grievance platform! So go on and subscribe to a few consumer blogs; sign up for the consumer forums. The many tales of woe you’re sure to come across will quickly point you where to go and where to keep away from! If an insurance plan is starting to look really attractive, these are the places you’ll find the devil’s advocates!
- Check Out The Company’s Credentials
So you think you’ve narrowed down your top choices. No matter if you’re going for an industry heavyweight that sells millions of policies every year or a local steady with only a few thousand policies in its kitty, you’ve got to get the down-low on the company’s health, credit rating, and history. That doesn’t mean that the company with the higher rating is the automatic best choice. A policy from a lower-rated company may very well offer you quotes that are better suited to your lifestyle. Just make sure the company isn’t rated any less than Good!
- Seek Out Generalized Quotes
While it’s a good idea to look for insurance providers that cater to your specific area, seeking quotes from a broader geographic area can help you develop a better picture of what’s offered in your demographics in terms of age, health, marital status, income and so on. AccuQuote in Wheeling, a suburb in Chicagoland, demonstrates this by providing quotes for life insurance products; Elephant.com does the same for auto insurance.