Does Every Insurance Company Seem the Same? Ask these Questions

Written by Mike

There are two approaches you can take to buying an insurance policy:

  • Find any company and agent, ask for a quote, and make a purchase as fast as possible
  • Compare the many companies, including rates and reputation, and then make a rational decision on your findings

Which group do you fit into? Despite the fact that you may be in a hurry to purchase a policy, if you believe all companies to be the same you could end up disappointed with your coverage.

So, what are you going to do? The obvious answer is simple: compare as many insurance companies as you can find. The problem with this is that you may not know where to start, especially if you are purchasing a particular type of policy for the first time.

Does every insurance company seem the sameHere are five questions to ask yourself and subsequently answer through your research:

1. Which insurance companies have the best ratings? To answer this question, you don’t have to look any further than a company such as A.M. Best. You will soon find that some companies are rated higher than others.

2. Does the company have at least one agent in your area? It is one thing to find an insurance company you want to work with. It is another thing entirely to find one that does business in your area.

3. Which companies have the most competitive rates? Now you are onto something big. This is the question that guides many consumers. The only way to effectively answer is to request quotes from multiple providers.

Tip: compare apples to apples to ensure that your final decision is based on accurate details.

4. What are others saying? A company with top notch reviews from other consumers is one that you can likely trust. On the same token, you may want to take a second look at a company if you come across too many bad reviews.

5. What is the process for buying a policy? This may not be something you have considered, but some companies make the process simple while others force you to jump through hoops.

There is nothing better than being able to obtain a quote online, speak with an agent, and make a purchase.

What Else is on Your Mind?

These questions should get you in the right frame of mind. By comparing insurance companies, both local and national, you will find yourself closing in on the policy that is best for you.

And remember, if there is anything else on your mind, no matter what it may be, seek out the answer before making a purchase. By searching online or speaking with an agent direct, all of your questions can be answered soon enough.