No one wants to be "taken" on their insurance premiums. It is hard not to view these payments as money down the drain, so many of us use price quotes as the deciding factor when we select auto, home or household insurance.
This is when we find out what kind of service our premiums have been paying for, and, we shouldn't be surprised to find that we get what we pay for. That is a choice many consumers come to regret when the time comes to file a claim.
With that said, you can find companies that offer both good service and good prices, and the only way to find out who is who is to compare insurance quotes, policies and companies.
The simplest way to start is to look for insurance online, where you can find resources that explain terms and practices used in the industry. You should be able to get enough information to determine if a company warrants more specific consideration, including quotes, company histories, and cover information. You can thus avoid high-pressure sales pitches that are intended to force you into a hasty decision.
When you start negotiating with the insurance company, you'll hear novel terms and listen to consultants who try to pull fast ones on you. You need to know what will happen when you submit a claim, and what the terms of your policy include. Ask any questions that you need to ask to clarify the policy. Any company that wants your business should be willing and able to explain its policy to your satisfaction.
One thing it is important to understand about insurance is how the companies determine your premium. Foregoing all the jargon that can accompany this explanation, it essentially boils down to your risk profile. If you're a high risk, you'll pay a higher premium. If you're a low risk, you'll pay a lower premium.
Several factors influence your risk profile, including, age, gender, place of residence, the value of the item(s) to be insured, your history of claims, the type and amount of cover you want to buy and the risk the item(s) being insured are exposed to. These factors can influence the various types of insurance in different ways, but some have the same effect on each insurance type.
If they exceed the insurance company's requirements, will lower home, household and car insurance premiums,if your place of residence is in a high crime area, your home, household and car insurance premiums will reflect the increased risk of possible theft, burglary or hijacking.Increased security measures.
If you can afford it, consider increasing your excess amounts. Excess refers to the amount you are responsible to pay when you file a claim. All car, home and household policies have minimum excess amounts, but you can raise yours in exchange for lower premiums.
You can receive a discount if you have a history of claim-free years. First-time insurers will not be eligible for this discount until they have built this history.
This is when we find out what kind of service our premiums have been paying for, and, we shouldn't be surprised to find that we get what we pay for. That is a choice many consumers come to regret when the time comes to file a claim.
With that said, you can find companies that offer both good service and good prices, and the only way to find out who is who is to compare insurance quotes, policies and companies.
The simplest way to start is to look for insurance online, where you can find resources that explain terms and practices used in the industry. You should be able to get enough information to determine if a company warrants more specific consideration, including quotes, company histories, and cover information. You can thus avoid high-pressure sales pitches that are intended to force you into a hasty decision.
When you start negotiating with the insurance company, you'll hear novel terms and listen to consultants who try to pull fast ones on you. You need to know what will happen when you submit a claim, and what the terms of your policy include. Ask any questions that you need to ask to clarify the policy. Any company that wants your business should be willing and able to explain its policy to your satisfaction.
One thing it is important to understand about insurance is how the companies determine your premium. Foregoing all the jargon that can accompany this explanation, it essentially boils down to your risk profile. If you're a high risk, you'll pay a higher premium. If you're a low risk, you'll pay a lower premium.
Several factors influence your risk profile, including, age, gender, place of residence, the value of the item(s) to be insured, your history of claims, the type and amount of cover you want to buy and the risk the item(s) being insured are exposed to. These factors can influence the various types of insurance in different ways, but some have the same effect on each insurance type.
If they exceed the insurance company's requirements, will lower home, household and car insurance premiums,if your place of residence is in a high crime area, your home, household and car insurance premiums will reflect the increased risk of possible theft, burglary or hijacking.Increased security measures.
If you can afford it, consider increasing your excess amounts. Excess refers to the amount you are responsible to pay when you file a claim. All car, home and household policies have minimum excess amounts, but you can raise yours in exchange for lower premiums.
You can receive a discount if you have a history of claim-free years. First-time insurers will not be eligible for this discount until they have built this history.
About the Author:
Tom Martens is the syndication coordinator Insurance-south-africa.co.za. South Arica's leading Insurance information portal
0 comments
Post a Comment