Myths Versus Truths of Comparing Insurance Quotes

Ward Off The MythsLet’s face it: Comparing insurance quotes isn’t something many of us do every day. So when it’s time to buy car insurance for your new car or because you need to make changes to your coverage and want to see if there’s a better deal out there than your current auto insurance company offers, it’s good to know what’s true and what’s not about comparing insurance quotes. Read on to find out the truth behind the following statements:

All major insurance companies offer more or less the same rates and coverage, so comparing insurance is a waste of time. This is a myth. Though the major insurance companies offer the same types of coverage and terms and conditions, special offers and discounts vary, so it’s always a good idea to shop around before you buy car insurance.

You get the best deals through the insurance company itself. This is a myth. A lot of insurance companies offer low rates online, but often, they offer even lower rates through online comparison sites like AgentInsure.

If I buy insurance online, I can’t ask any questions about my policy.This is a myth, as all insurance quotes contain the phone number of an insurance agent who is trained to answer your questions.

An insurance quote is not binding. This is true. Quotes are an estimate of the rates you’d pay for a policy that meets your requirements and aren’t legally binding.

My credit score affects my car insurance rates. This is true; in all but three states, insurers consider your credit score when determining rates.

Going Stealth: Comparing Homeowner Insurance Companies

Outstanding Evaluation Between CompaniesThese days, it’s tough to decide what home insurance company is best for us. In the past, the selection process was far easier—people didn’t rely as much on sponsored advertisements to tell them where to take their business, and insurance companies didn’t vie for that business in quite the way they do today. Back then, people relied on good old fashioned word of mouth to compare homeowner insurance companies—but then again, there wasn’t quite as much choice as we have today. So what should a person in need of a homeowner insurance quote do to differentiate between companies that appear to offer the same goods?

There’s always the stealth approach. Make a list of all of the major insurance companies, and find the phone number of the claims department for each. Call them one at a time, pretending to be an existing customer filing an insurance claim. This kind of “live test” approach can sometimes shed a light on one of the most important and often overlooked aspects of an insurance company’s value: their customer service. If you’re up for a bit of undercover work, you can discover a lot about an insurance company through non-traditional channels.