subject: Do You Trust Your Insurance Company? [print this page] Do You Trust Your Insurance Company?
A good insurance quote is not all about the cost. Typically, an insurance quote will be competitive if you take a good look at what you are being offered for what you are paying. However, a low premium is all good and well until it comes time for the insurance company to pay out and they find some technicality that allows them to not pay what they should. You will then have wasted all those years of paying premiums and you will never see the benefits.
Here are some tips on ensuring that the insurance quote you get is a good one and not from a fly-by-night insurance company.
Search the internet, not just the company's website for a complaint history for the insurance company in question.
The usual method of finding an insurance company to sign on with is to get a number of quotes from different companies and to compare them. It is advisable to then take the best quotes and do some research on the complaints the company has received. People who have been dissatisfied with the service they have received from a company are almost guaranteed to make their opinions known. There are even websites that are dedicated to complaints and compliments about companies. There are also usually some form of national database for complaints, especially in a popular field like insurance. These databases will allow you to compare the frequency and type of complaint received by each company.
It is important to remember that the larger a company is the more likely it is to receive complaints from its clients. It is not the number of complaints that is important, but rather the percentage of clients who have complaints. A large company with millions of clients and perhaps a few hundred complaints has a better track record than a company with a few thousand clients but fewer complaints. You should also take into account the type of complaint received and decide whether the complaint is important to you or not.
It is also important to consider what cover you are being offered in the insurance quote. These quotes can be worded very technically and not actually cover what you would expect to be covered for. Technical terms can be used by insurance companies in an attempt to cheat you out of cover that you thought you were getting, but cannot claim for due to technicalities that you did not understand or were unclear in the original insurance quote.
Any insurance company worth its salt will have in its employ, consultants who are able to explain and clarify any areas of the quote you are unsure of. If you find that the insurance company you are dealing with is not able to assist you in this matter to your satisfaction, it would be better to insure elsewhere. Be sure that you are one hundred percent satisfied that you know exactly what you are covered for.
To summarize, a reputable insurance company, one from which it is advisable to accept a quote from, will have a lower percentage of complaints per policy holder and will have knowledgeable customer care staff on hand to ensure that you understand the terms and conditions of your policy.
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