Having insurance is vital. It offers you essential protection when disaster strikes, and in many cases, you can’t afford to go without the right insurance.
The value of good insurance is easy to see. Many people, however, struggle to know which types of insurance they should get, what coverage is best, and which company to choose.
There’s no one right answer because different people will benefit from different types of plans.
If you’re asking yourself, what insurance should I get and who should I get it from? you’re not alone, and we’re here to help! Here’s our quick guide to choosing the right company and coverage.
Factors to Consider When Choosing a Company and Coverage
When you’re shopping for any kind of coverage, it can be overwhelming to look at all the options available and try to decide what will work best for you.
There are a few factors to consider carefully when you’re in the research stage of purchasing new insurance, which include:
- The company’s reputation for customer service. Imagine having to wait on hold with your homeowners insurance company for two hours the day after a storm took part of your roof off or having that same company make you really fight to get the benefits you’ve signed up for. Customer service is essential, and you want to work with a company that is known to be reliably responsive and consistently great to their clients.
- The cost. Some companies have insurance plans that are simply more expensive than their counterparts. This may come with improved customer service, but for families and individuals on particularly tight budgets, you’ll want to find a great plan that you can comfortably afford.
- The extent of coverage. Some insurance companies offer more benefits at lower deductibles than their competitors, so you’ll want to know what coverage you need and what you’d like to find before you start making decisions. Someone who lives right near a flood zone, for example, may want much more extensive flood benefits than someone whose home is extremely unlikely to be flooded.
- Any special programs that could benefit or exclude you. Many insurance companies offer safe driver programs that can save cautious drivers money on their premiums. This is an advantage that safe drivers can use to save up to 30% on their premiums, which is significant. Some insurance companies, on the other hand, may have exclusions that could negatively impact you. Some insurance companies, for example, may charge higher premiums if you have certain breeds of dogs that are considered high risk for aggression, while others don’t.
How to Find the Right Insurance Company
Ready to find an insurance company and select coverage, but aren’t sure exactly where to start?
Fortunately, there are several options available.
Online research is typically the first step. You can look at reviews of customer service, get a basic idea of pricing, and research what levels of coverage you may need and who offers it. While quick and easy, online research may be limited because the price ranges you see listed aren’t truly personalized to your unique situation.
You may look online for car insurance, and see that one company is only charging prices starting at $120 for the same coverage you’re paying another company $150 for. You get excited, but you later find out after completing the full application that the only reason one company appeared cheaper was because it hadn’t taken two recent accidents you’ve had into account.
In addition to online research, there are experts you can talk to when you’re trying to make a decision. It’s crucial, however, to talk to the right people so that they can help you find the right coverage. In many cases, this means deciding between insurance brokers or agents for individual insurance companies.
Insurance Brokers vs. Agents for Individual Insurance Companies: Which Is Best
When you’re getting help researching for home or auto insurance, you have a few options.
Insurance Agents
One of the first things some people do is call an agent of a specific insurance company directly. These individuals can go over the ins and outs of every policy available with that company, but they’re often heavily biased and invested in their company’s interests. They are likely offered commissions and may try to sell you more than you need. They definitely won’t tell you if another company is better aligned with your needs. While they may be able to help you find the best policy within their company, that’s still often a limited view.
Independent Insurance Brokers
For this reason, it’s always best to work with an independent, trusted insurance broker like those with Homie Insurance. We’re experts in our field, and we put your best interests first. Independent brokers will do all the research for you, helping you find the best policies from the best company, getting you the true perfect fit. We’ll help you find the best insurance company and policy for your specific needs, guiding you to choices that are right for you.
When choosing an insurance broker, these are a few qualities you’ll want to look for. These include the following:
- They don’t charge high fees. All brokers will charge fees, but if you’re seeing significant fees, it’s time to look for a new brokerage.
- They’ll shop the rates for you. They can put together customized quotes for your individual situation, helping you find the best plan no matter what. You won’t need to continually call multiple agents.
- They’re unbiased. Avoid working with a brokerage who has a partnership with a specific company; you want a truly independent broker who will put your interests first.
- They’re knowledgeable. They should be able to advise you on how much coverage you truly need and the customer service expectations for the companies they’re recommending.
How Homie Insurance Can Help
Having great insurance isn’t just meant to offer you peace of mind (though it definitely should do that); it’s also an essential form of protection that shouldn’t be overlooked. For this reason, it’s so crucial that you don’t over-buy or under-buy, and that you find the absolute best fit in both the insurance provider and the policy itself.
There are a lot of choices out there, and we can help you find the best one for you. You can learn more and request information from Homie Insurance here.