Everybody needs to secure their investments and assets. Consumers turn to Auto Insurance Companies who charge them a premium in exchange for protection against theft or damage to their vehicle.
Now needless to say there are various companies out there for you to choose from. This truly is a consumers market, we have today. You can study the pros and cons of each auto insurance company and then go with the company of your choice. Each company has their own insurance policies; some provide only the very basic covers, while some have a wide array of coverage for you to choose from. Once again, you need to put in a few hours of effort into learning all the options open to you.
As a consumer it can get very confusing, with each auto insurance company claiming to be the best in the business. The use of fancy advertising gimmicks and billboards, doesn’t help much either! Fortunately, in this consumers market that we live in today, wherever there is a problem; someone is highly likely to come up with a solution.
The solution for people shopping for insurance is multiple quotes. You can very easily log into a number of websites, where you can get simultaneous quotes for different companies. And what’s more is you can customize your cover as per your needs! No two consumers are completely alike, each person has a different usage pattern for his/her motor vehicle, a different driving style, and hence a different insurance policy. Every policy should be customized, not only with regards to the cover, but also the sum assured (the amount the auto insurer pays you in the event of theft or damage).
Never make the mistake of just settling for the same insurance your friend has, you never know, your friend might not have analyzed his requirements himself! Most people tend to go for the policy that the insurance salesperson suggests; remember, the salesperson works on a commission basis, and might not always give you the right advice.
Many people take a medical cover on their auto insurance, when that already have a past medical coverage. Such duplication in cover just leads to higher insurance premiums for the same amount of cover. Say for example, your medical expenses are covered by your health insurance, and when buying auto insurance, you customize your policy to include medical cover, this is purely duplicate cover. In the event of an accident, you cannot get your medical bills reimbursed from two insurance companies, you need to pick one. So in effect, you’re paying a double premium, for nothing.
Multiple quotes not only help consumers find the right policy for them, but also to shave a few dollars off their insurance premiums. In the past you would need to go from insurance company to insurance company, scouting for the right price, and something custom-made to suit your requirements. With amazing developments in technology, you can now apply for multiple quotes from the comfort of our home. And what’s better, you eliminate the need of a middleman, since you approach the insurance company directly on their website, thus negating his fees, and bringing your premium down by quite a few dollars.
Taking the right insurance policy, at the right premium, for the right sum assured is all about making an informed decision, which is why your spade work, and multiple quotes are so important.
