Choosing the right insurance quote

By Toni

When you come to choosing an insurance service or company it is vital that you compare it with different ones. The quote you get from one company may seem like the best deal, but there may be companies willing to offer you a better deal elsewhere. The development of technology has made it possible for us to obtain quotes from various sources, via online, the telephone or by visiting the insurance company. The real trouble arises when it comes to selecting the best one.

It’s good practice to remember that each insurance company is trying to lure in consumers. They heavily advertise their insurance deals, and make them appear like the best deal for you. However, these advertising techniques are designed to entice you into buying their insurance without having compared their quote with other companies. It is company techniques like this that make it difficult for consumers to compare quotes. These tips will hopefully make it easier for you to effectively compare insurance quotes.

1. It isn’t all about the price. You should analyse every aspect of the agreement. In this age, we are used to buying products that have the lowest price attached to them. A lot of people seek out insurance, using the price as their only judging criteria. You should check every part of the quote, from what it fully includes and the benefits you are entitled to, and the date that the agreement expires. Using tables is a good method to summarise and compare different quotes. Always clarify anything that you are unsure of.

2. The complexity of insurance policy contracts is not accurately portrayed in an insurance quote. The quote only really shows you the very surface of the policy, and this is usually less than 25% of the actual contract. Therefore, you must understand that the insurance quote does not explain everything about the insurance service. If it’s possible, request a copy of the insurance policy contract from the insurance company and seek legal consultation if required.

3. Compare the quality of service provided. A frequent error that occurs is that people assume that if a company gives you more, it is better than another company. This is partially true, but the quality of service is definitely better than the quantity provided. If there is one insurance company which will process your request in 2 days and another takes 1 month, then it is clear which insurance company is superior.

4. Seek expert advice. When we compare insurance quotes, we are doing so at a very basic level. If you consult an independent insurance expert then it will be incredibly beneficial. They have all the right knowledge and are aware of what aspects of a policy are better than others. There is only one problem with this approach, and that is that the insurance expert may be tied to a particular insurance company and work to make sure their company becomes your insurance company.

These tips should help you to choose the most beneficial insurance policy for you, by comparing the different policies presented to you. However, in the end it is your good ju8dgement that you will have to rely on as the deciding factor. Be careful when comparing insurance companies and you should get the best deal.