Effective Insurance Tips

TIP! In an effort to save on your insurance cost, do some research about your local insurance agents, insurance companies, and rates. Insurance companies use different criteria for determining policy premiums and everyone is different.

Understanding all the details of your insurance coverage is difficult and time consuming.  Everyone puts a high value on being protected against life’s accidents, but it is not necessary to pay high premiums good coverage, or spend days shopping rates. An independent agent, with knowledge and experience can provide you with the answers you seek, and comparison rates.

TIP! When it is time for new insurance, check out both your current provider and your potential new companies, by researching them through your municipal or state insurance department. States regulate how insurance companies operate, and the companies must report specific events, such as price increases or complaints.

There are several neutral parties in the insurance world willing to provide unbiased information about insurance companies and agents. Here are two links that you may find helpful. The Bureau of insurance for the common wealth of Virginia and Independent Insurance Agents of Virginia I use both these resources frequently.

 

Insurance Policies

TIP! Ask your independent agent if there are savings to be had by merging all the different types of insurance that you need with one carrier. A lot of insurers will offer discounts if you will put all of your policies together with their company.

Bundling your Homeowners, Auto, Life and Umbrella coverage with a single insurance company will save you money. Combining the policies of two recently married people is also a good way for two people to not only save money, but often times increase their coverage.

TIP! Look for an insurance company with a good AM best rating that offers competitive rates when you are shopping for insurance. Do your research on a potential provider before starting a policy with them; there is a lot of information available online.

Give your independent agent a call and ask them to send you information about a particular insurance company. Ask the agent if they have had any clients who have filed claims with that insurer and how that experience was?  You should also ask your agent how stable the rates have been over the past few years.

TIP! Before you make a decision on moving to a particular neighborhood, consider the insurance prices for that area. Companies charge various premiums depending on your location.

It’s true, population density, crime-rates, access to fire stations and fire hydrants’, traffic density, proximity to public transportation and parks are rating factors that insurance companies use to rate an a neighborhood. Limited access neighborhoods, gated communities, and apartment or condo buildings with 24 guards are given the highest marks among insurance companies.

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