Want cheaper insurance? You are not alone. This is the biggest reason why new people call our agency. They want a better rate. And when I say "they," I mean everybody. Nobody wants to overpay for insurance or feel like they are being cheated by their insurance company. People have a lot of different motivations for seeking a better rate: their current company keeps increasing the rates each year; they pay a lot more than their neighbor; they haven't had a claim, yet their rates keep increasing. The list goes on. On top of that, consumers are seeing ad after ad, every day, telling them that company XYZ could save them X amount of dollars on their premium. It is no wonder they are shopping for a lower rate. But we forget one simple thing that is so important in the insurance buying process:
Cheaper insurance is NOT always better! And what's cheapest is not always best.
Now, I don't want to diminish the role that price plays when you are buying insurance. I spent a lot of time shopping around for my own insurance. I wanted to find the best rate. And I do the same thing for my clients. I try to find them a competitive rate among the companies I represent. But there are a couple things I don't do: I don't skimp on coverage, and I don't use an insurance company that I don't know or trust.
The number one consideration when shopping for insurance should be coverage!
There are a lot of questions that need to be answered when it comes to coverage. Do you have the right coverage? Do you know what coverage you need? Do you have enough liability coverage? Do you run a business from your home? Do you have any farm animals? Do you know the different coverages that companies offer and which ones you do or do not want? A good agent will help you navigate your particular risks and make sure you have the right coverage for your situation. And believe me, every situation is a little bit different.
The number two consideration should be the insurance company you use.
You want to work with a company that is stable, has been around for a while, and has good financial ratings. You want a company with great claims service and superior all-around customer service. If you decide to work with a substandard insurance company, and they are not willing or able to step up and pay when claim time comes, then that policy is not worth the paper it is printed on. I also lump the insurance agent you choose into this consideration as well. A good agent/agency will have great customer service and they will recommend reputable companies to do business with.
The number three consideration is price.
If you don't have the right coverage, or you are not working with a dependable insurance company, then it doesn't matter how cheap your policy is, because at the end of the day your policy may not be doing its job of providing the service and financial protection you need if a claim occurs. As I said earlier, cheaper insurance is not always better. The right insurance policy is one that combines all three considerations, or what I call the right value: great coverage with a great company at a competitive price. If you want someone to help you find the right coverage and value, talk to us. It's what we do every day.
