Things You Must Not Overlook Regarding Your Insurance Coverage
You just can’t avoid insurance. Everyone needs to insure something. Isn’t it better, then, to learn how to get the most bang for your buck when it comes to insurance? Not learning about insurance could cost you thousands of dollars or leave you exposed to nasty loopholes. Here are a few things every insurance holder needs to consider:
When you choose insurance for your car, qualify your insurer first. Besides evaluating coverage, it is also in your best interest to look for reviews on their customer service, claim responsivenesseven rate increases. Knowing who you are dealing with ahead of time can help you set expectations with your insurer.
Save money on your insurance premiums by raising your deductible. You can save $100 or more on your auto insurance premium by raising your deductible from $250 to $500. Likewise, if you increase your homeowner’s deductible from $500 to $1,000, you could save even more. Even increasing your health insurance deductible helps you save money on premiums.
If you are moving, be sure to check with your moving company to see what kind of insurance they carry. Most moving companies just have a “per-pound” policy on all contents. This might be alright if you just have fairly ordinary, large furnishings; however, if you have very expensive furniture, artwork, lots of electronics or other items that may not weigh much but are valuable, you should ask your insurance agent about supplemental moving insurance.
To make sure your insurance is providing the coverage that you are paying for make sure that you talk to your agent when you make any large purchase. Most policies have limits for any single item. If you buy a new ring that is worth $5,000 you may need to add an endorsement to cover it fully.
When shopping for new insurance of any kind, be sure to get several quotes using the same coverage parameters so that you have a good idea of the market worth of the policy. Online insurance companies have made this task exceedingly easy. Select the one that seems to offer the best mix of pricecoverage. It never hurts to do some online research about your prospective insurer’s reliability as far as paying claims as well.
Repeat after me: you must always read the fine print when signing an insurance policy. In an insurance transaction, you typically will have to sign a large number of papers containing thousands of words in tiny print. You need to read –understand – these forms before you sign any insurance policy. Do not allow the agent to blow through the formssimply sign at the several places marked with an X. If you don’t understand the fine print, you will likely regret your purchase decision down the line.
Before you choose an insurance policy, be sure to shop around so you know what your options are. There are many online services which can give you quotes from a number of different insurance companies, or you can hire a private insurance broker who can give you optionshelp you decide which is right for you.
To make sure any insurance claims you make go smoothly, take the time to document every step of the process. Make a log of all in-person meetingsphone calls to get a timeline of what was discussedwhen; it will give you a good understanding of how the claim has been progressing. Write a letter to the insurance company after each conversation to confirm the details of the conversation.
Insurance is a necessity of modern life. Whether or not you are happy with that fact, one way you can feel good about it is to save yourself a little money or improve your coverage without spending more. Tips like the ones in this article can put a smile on your face by making you a smarter insurance customer.