In today’s digital world, finding insurance coverage is easier than ever. With certain online platforms and insurance options, you can get a policy in a few hours. Sometimes, you can even get one in minutes!
Of course, that doesn’t take into account all the time it takes to shop for insurance. Figuring out your coverage needs, finding a trustworthy agent, and weighing the cost of premiums is way easier said than done. Worse, with our current hard market raising prices and making it harder to get coverage, you may not always know where to turn.
That’s where Kicker Insures Me Agency comes in. We’re here to answer a few common questions about insurance shopping to help you make smarter decisions about your coverage. Read on to learn more!
Decide What Coverage You Want
First things first: figure out how much coverage you need. The last thing you want is to be underinsured, which could leave you paying out of pocket in the worst-case scenario.
If you’re shopping for homeowners insurance, do you also want to cover a free-standing shed on the property? If you’re looking for business insurance, does your brand need cyber liability insurance as well? Think through the kinds of risks you tend to see as you wade through your options.
Depending on where you’re shopping, you’ll have access to various add-ons and endorsements. These can help you fill in the gaps if you need specific coverage. If you want to protect artwork and collectibles, for example, a separate insurance rider might help.
However, always be sure to choose only what you need to keep from overpaying. Here in Texas, we often advise homeowners to skip earthquake and flood insurance, for example. However, this depends on where you live.
Once you have the minimum coverage you need, you can always upgrade later if you realize you need a more comprehensive policy.
Compare Apples to Apples
After deciding how much coverage you need, it’s time to start comparing your options.
When you do so, make sure you’re comparing apples to apples. This means always comparing policies with similar coverage options and deductibles. If you instead compare policies based on price alone, it’s harder to recognize when an option doesn’t offer the coverage you need.
Get quotes from at least three different insurance companies. In most cases, you can request quotes by filling out online forms on different insurers’ sites. With some companies, you may instead want to speak directly to an agent to request a quote.
No matter how you get your quote, you’ll need to provide identifying details about yourself and your situation. If you’re getting car insurance, for example, you’ll need to share your personal info, driving history, and details about each car you want to insure.
You’ll also have the opportunity to choose your deductible. Play around with this figure to see whether a higher or lower bill would help you save overall.
Keep in mind as you gather quotes that these are only estimates. Once you’ve applied for coverage, you’ll get the actual rates your provider will expect from you.
Evaluate the Provider
Before you make a decision, do your homework on the provider.
To start, you should only partner with a licensed insurance company. You should also check the provider’s reputation by reading online reviews and testimonials. Third-party review sites like Yelp and Google Reviews are helpful here, as well as social media reviews and ratings from agencies like the Better Business Bureau.
Evaluating these ratings gives you a good idea of the brand’s customer service. While a few negative reviews aren’t red flags, you should never choose a provider that has a pattern of similar complaints!
Speak to an Agent
Consider including your insurance agent in your decision. Agents know the insurance market and coverage options better, allowing you to understand which solutions may work best for you. They’re also happy to answer your questions, which can be invaluable when you’re weighing complex options.
Though all agents should be able to help you, an independent agent may be your best bet.
Unlike “captive agents,” or agents who represent a single provider, independent agents represent many different companies. This allows them to guide you through a wider spectrum of options. You’ll often have an easier time finding the best coverage with more products to choose from!
Don’t Consider Price Alone
We get it: the price tag is a crucial factor for any buyer. However, that doesn’t mean you should make a decision based on the cost alone!
Cheaper policies aren’t always better. The best policy is the one that offers all of the coverage you need at the best price. Don’t skimp on coverage to get more affordable payments.
However, we understand that you may not always have the best choice here: during a hard market, your available options may narrow. This can make paying for insurance a challenge. However, it’s still crucial to strike the right balance with your coverage by making sure you’re getting exactly as much as you need!
Keep Shopping Around
During a hard market, insurers often set a higher bar during their coverage assessments. They may be more likely to insure customers they see as less of a risk. This is especially true with homeowners insurance when you have any potential hazards in your home or near where you live.
If your chosen insurance provider turns you down, don’t give up! One company’s decision isn’t a sign that no companies will insure you. Different providers have different standards, so keep requesting quotes and applying for coverage until you get what you need.
The Right Insurance Coverage Every Time
With so many options, shopping for commercial or personal insurance coverage can be daunting. If you’ve been struggling to find the right policy, the tactics above are great places to start.
If you’re hoping for more personalized advice and tailored strategies, our team is here to help. At Kicker Insures Me Agency, we shop and compare top providers on your behalf to take the stress out of this crucial decision. Let us do the hard work while you sit back and choose from the multiple options we’ve presented!
To learn more, reach out for a quote today.