Insurance quote comparison service.

2. Do not give up coverage for a lesser premium.

 

Many consumers are quick to pay the least amount they can with unknowingly signing up for lesser coverage than what they actually need.  Review your coverages carefully.  Most insurance agents and representatives quote the right amount of coverage but there are still those that will always quote the lowest possible limits they can.

 

3. Give yourself time to shop.

 

If you know your current policy expires in two months, do not wait until the last day to look for a policy.  The typical time frame to begin shopping for new insurance is sixty days from policy expiration.  Insurance agents and reps are aware of this.  The term “ex-dates” is used in the insurance industry for the date when a consumer’s policy will be expiring.  Insurance agents and reps will usually start contacting clients sixty days prior to their policy ex-date.

4. Research the company or agency you are working with.

 

If you are past the quoting portion of the buying process, you will need to make sure you are comfortable with the company or agency you may do business with.  If you want information regarding an insurance company, there are numerous sites on the web you can research.  One in particular is www.ambest.com.  This website will give you the financial strength and credit worthiness ratings of the company of interest.  If you want information regarding a specific insurance agent or agency, you can visit your states insurance department website.  Current company appointments and license information is usually available on the state’s insurance website.

 

5. Choose the right payment option.

 

Most insurance companies will offer different payment options to suit their client’s needs.  Options for monthly bill, automatic monthly bill, quarterly bill, semi-annual bill and full pay are usually available.  If you plan on paying monthly, automatic monthly is a good choice, as opposed to paying your insurance bill manually every month.  Visit our page, Paying On Time to see why.  Insurers would like to get the full term premium up-front, if possible.  For this, many of them will offer a discount for setting up your policy either with semi-annual bill or full pay.  Make sure to ask if there are any discounts available for selecting either of these payment options.

 

Once you start your policy, make sure to save copies of documents you signed.  Keep copies of applications and policy documents in a safe place, one that you will be able to recall easily when you need to.