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Five things to ask before choosing the best auto insurance rates

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Owners of casinos make money based on the simple logic that not more than two or three persons out of every hundred people who play at a casino actually win, so their winnings are more than adequately taken care of by the 97 r 98 other people who lose their money, leaving lots of money to spare which become the profits of the casino owners. Similarly, auto insurers make money from the thousands of policies on which there are no claims. That is why many insurance companies initially try to attract customers by making impressive promises, but when there is a claim, they do all that is possible to reduce the claim amount or even deny the claim totally. So if there are a large number of insurance companies wooing you with attractive sounding policies, you might be tempted to bargain hard to get what you think is the best auto insurance rate. But it would be wise to read the fine print to ensure that the choice you make is indeed the best auto insurance rate possible. 

How good is the company?  

Even before you get into the nitty gritty of the policy being offered, you should first check the dependability and track record of the insurance company in settling clims, and also find out about the financial strength of the company. 

How approachable is the company? 

Next, you should visit the company’s nearest office a couple of times before you choose their policy, so that you know where to lodge service requests or where to submit your claim if the need arises. 

How comprehensive is the coverage being offered?   

Even though your main aim is to get the best auto insurance rate, but just comparing the rates offered by two different companies will not suffice, because you also need to see what situations each policy would cover. Find out about the exclusions that the policy lays down. 

What is the underwriting process? 

The brochure of the offered auto insurance policy will give you all the details of the basis on which the underwriter will assess your case. You must ask as many questions as required so that you completely understand the factors that will be considered in deciding the premium and also during claim settlements. 

How often do you need to pay? 

If you are choosing a policy that has a hefty premium amount, you should enquire whether the option of paying the premium on a monthly or quarterly basis is available, which could lessen your financial load. At the same time, do not forget to ask whether such an arrangement would attract some additional charges. 

The multitude of insurance companies means that you have a large number of options, so you should act wisely and select the best auto insurance rates only after considering all factors.