|Buying insurance is tricky and no one likes to shop around. Here
are some simple tips in order to assure yourself that you get the
most for your dollars spent. Always a good place to obtain
information is the Arizona Dept of Insurance web site - here is a link
to get you started http://www.id.state.az.us/
For a description of coverages offered in Arizona, please take a
look at this brochure offed by the state of Arizona Brochure.
When going to one of these “discount” or “cut-rate” insurance
companies as Allstate mentions in their ads taking aim at
companies like Geico , please make sure you do not get caught up
in only price. Here is small guideline to ensure that you are getting
the same coverage:
- To start, please make sure that your coverage limits are the
same. We have seen the bait and switch way too many times. This
is common offering a lower rate and then lowering coverages.
- Next, ask the agent if ALL reports have been run and
charged. If not your rate may change after you give your payment
info. This is very important; we have clients that have cancelled
their policy and then found out that the new rate went up. You can
be offered a lower rate and then see the renewal take increases
because of this.
- Make sure to ask your insurance company: With regards to
claims will they use original parts ONLY! Many times they will save
on paying out on claims by using non manufacturer parts, used
parts, or third party parts. This is only cheating you and saving the
insurance company money. But not bringing you back to where you
were prior to an accident.
- Some of these companies have a policy to decline claims
first! Especially if it is not your fault! After all if the company is
advertising frequently, then the money for the ads has to come
from somewhere. Don’t get caught with one of these companies as
in the long run you will be paying more. Even such small things as
windshields are sometimes declined or third party parts used. The
best way to combat this problem is due diligence prior to
purchasing your new policy. Check with dept of insurance as well as
consumer affairs. On several occasions we have had to file
arbitration on behalf of our clients with these companies just so that
their claim would be settled and things made right.
- Remember all insurance companies insure the same
population. Ask yourself why is this one company charging less and
advertising more? There has to be somewhere that they are
saving to compensate.
- Sometimes to get a lower rate if an insured is not happy with
rate quoted, we have seen companies and agents suggest lower
liability limits to present a sellable quote. This could not be worse
for you! If you are shopping for certain coverages, why accept the
lower coverage offered. Not only are you not as well protected, but
your coverage per dollar is actually a worse value for you. If an
agent offers this to you – RUN out of that office or hang up the
phone. That agent is only concerned with selling you a policy and
not your well being and to insure you properly!
- I am sure that you have seen commercials that brag about
“Tell us what you want to pay a month and we will tailor a policy just
for you”! …..Another bad idea! You probably will not have the
coverages that you really need. This is a sure way to leave yourself
under insured! You see…..in order to start with a monthly payment
is just backwards. It is not very difficult to do this, all an agent has to
do is keep lowering all coverages until the target premium is met.
Once again, I would run from any agent who goes about finding you
a policy in this manner.
If you have any questions please contact us and we will be happy to
help out as best we can.
In the mean time here is a helpful link:
Also: just Google the name of an insurance company followed by
complaints. Look for trends in these complaints
I did this for Geico and was amazed at the number of websites
dedicated to complaining about Geico!
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|Tips on purchasing Insurance