Insurance Advice: the Good and the Bad

| February 16, 2015

Monday, February 16, 2015

When you are in the market for insurance, you probably hear a lot of different bits of advice. As with any topic, there are good bits and there are bad bits. Distinguishing between the two can be the tricky part. There are some “trinkets of wisdom” out there that are anything but wise. Here are a few of those pieces of advice we want to clear up:

  1. Always go for the cheapest rate. The cheapest rate may not come with the best customer service or benefits when you need them. Compare more than just price when comparing insurance policies.
  2. Never purchase more than the minimal law requirement. The minimal requirement may not cover a loss in its entirety. You may have to pay out of pocket if a claim situation arises even if you have insurance. Discuss how much insurance you will need based on what you are insuring, not the law.
  3. It is OK to lie on your insurance application to save some money. It is never OK to lie on your insurance. It is considered fraud and could result in cancellation of your policy and criminal charges.
  4. If you are offered a lower rate from a different carrier, cancel your current policy right away and switch. Give your current carrier a chance to review your current policy before switching. You may be eligible for some discounts or credits that were not available before.

The bottom line is: having a good insurance policy means more than just getting the lowest rate. You want it to work for you in your time of need. Talking to a licensed insurance professional can help make your decision much easier. Call us at 888-827-0930 today for a quote on a policy to fit not only your budget, but your lifestyle as well.