What Makes A Good Tractor Insurance Company
What Makes A Good Tractor Insurance Company
So you made a list of prospective tractor insurance companies you found on the Yellow Pages and on the Internet. But you only need one to cover your insurance. Which company is best for you? How do you decide which company deserves your trust?
There isn't any clear cut way to measure a company's quality of service, but we can offer you some tipsfive tips, to be exacton how to filter out the big fish from the bad ones.
The five fundamentals
These five fundamentals says lots about an insurance company's ability to keep its promise. They are:
Experience This is a given. It's important you know how long the company has been in the insurance industry, and how long it has specialized in tractors. Let's say this tractor insurance company has been around for some time. Several years. Does it still go by the name it started out with when it was founded? The number of times an insurance company has changed its name speak volumes about its credibility.
Financial strength The Company needs to be able to pay for itself before it can pay for your damages. Visit the office and look around. Does the company look like it has sufficient reserves to cover several claims at one time?
Coverage Policy coverage is also very important. What kinds of damages and contingencies are covered by their policies? And these policies, do they offer options that are adaptable to your needs?
Cost How much does it cost to be insured with basic coverage? There's no point in you going through all the trouble for a company you can't afford.
Value So what is the total value in money, time, and convenience? Is it easy to file a claim? How long is the waiting period if you do file one? Are the employees competitive? Are they trustworthy? As the company, it's their job to service you in exchange for your money. As the customer, it's your job to get the best value out of it.
See, it's easy. Now you no longer have any reason to fall for an insurance company with bad credit. These five signs are as foolproof as any credible insurance from a credible tractor insurance company.
The one thing certain about tractor insurance is that the policies are different from state to state. In California, you can drive your tractor out on public roads, no problem, but may not allow to do that in Wyoming.
In any case, the following list of do's and don'ts applies to almost every state in the US sometimes even to general auto insurance companies.
Dos
Call your agent as soon as an event covered by your insurance takes place. Do it as soon as you get home. If you need to go the hospital, if possible, call your agent before you see the doctor.
Read and understand the terms and policies before talking to your agent. Everything you need to know should be under the "Coverage" and "Exclusion" sections of the policy in particular.
Keep a detailed note of all your conversations with the insurance company people. Get their names, cell phone and office numbers, job titles, and the name of their supervisor.
Don'ts
Don't sign anything unless you completely understand the terms and conditions of your policy. You are also allowed to refuse a recorded phone conversation with the insurance company. Consult an attorney if you still have doubts.
You can hire an independent appraiser to check for damages. Don't accept the insurance company's estimates up frontthey might be a bit low.
Don't sign any waivers or releases until after you had a talk with an attorney. A devastating accident resulting to major damage to your tractor will make it seem like accepting a premature settlement is the most practical thing to do. But do try to resist the urge. Always consult an attorney first before you sign a release.
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