Tips for Finding the Best Insurance

Tuesday, May 14, 2013

Tips for Finding the Best Insurance

While you may be able to live without cable, upgraded Internet services or air conditioning during summer, insurance is not one of the bills that most people can cut out of their life. If you drive or have a family, insurance (car, homeowners and life) becomes a necessity. Since insurance premiums can be through the roof, learn how to find a decent deal instead of settling for a pricey package.

Image credit: alexraths / 123RF Stock Photo

Determine Your Needs

There are different types of insurance you can get, and these types of insurance have different options within them. First, narrow down your choices by determining what you want and what you don’t. For example, if you’re in the market for car insurance, would you rather save more money monthly and pay extra out-of-pocket if you do happen to get into an accident? Or is the peace of mind worth it to you to pay up every month and not have to worry about the expense if something goes wrong? There are key considerations regarding homeowners insurance and life insurance, too, like the current value of your home or if you need to prepare for your kids’ educational expenses.

Online Insurance Calculator

Now that, you know what you’re looking for, you have to figure out how much the insurance package should cost. Paying too little could mean not getting all the pieces you want; paying too high can mean that you’re wasting money since another provider would provide the same coverage for less. This is where online insurance calculator becomes useful.

Enter your basic information into the online insurance calculator, like the type of insurance you want and your zip code. Then, depending on what you’re searching for and where you are geographically, the calculator will ask you more specific questions. Once you’re finished plugging in all the information, you’ll get results right away. This is a suitable starting point because now you’ll know the price range to look for when shopping for insurance.

Research Insurance Providers

This is the most frustrating part of the entire process, but unless you’re ready to fork over your hard-earned money to the first insurance company you come across, you’re going to have to put in some elbow grease. First, get online quotes from the leading insurance companies, like Progressive and Geico. Then, collect quotes from insurance agents to see if you’re better off working directly with the insurance provider or will get a better deal by signing up with an agent. Follow these tips to negotiate the appropriate rate, for the coverage you need:

  • So many things in life are negotiable, and insurance quotes are no exception. Insurance companies usually have a bottom line that they’re not advertising, which is why most people don’t realize how much wiggle there simply is. If you don’t like what an insurance company offers, ask them for a better deal. Sometimes, you have to pretend disinterest to get them to negotiate. For example, telling them you’re going to a rival company will often help you get the price you want.
  • If you need a few different types of insurance, stick with one company. You’ll score a better deal if you have different policies, like automobile insurance and homeowners insurance.
  • Insurance professionals generally recommend taking the highest deductible that you’d be able to pay out-of-pocket.
  • Ask about any extras that may not be front-and-center on your policy. For example, you could be unknowingly paying for towing and car rental deals that you’d rather go without if it meant lowering your premium.
About the Author-

Greg Johnson is a professional blogger. He specializes in providing information for auto insurance and commercial truck insurance . 

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