09 Aug How to Compare Insurance Quotes

Whether you’re switching your insurance company or just looking at different quotes from the same one, you’ll need to compare them. Since not all insurance quotes (or even insurance coverages) are created equal, there’s a strategic process to this that should be followed to ensure that you’re choosing the best possible policy for your needs and budget.

So, what’s the secret to comparing insurance quotes? Let us share a few tips you definitely want to know.

What Does the Policy Cover?

Depending on the type of policy, homeowners insurance or auto insurance, to provide a few examples, you’ll see different coverage options. It’s important to take a good look at what the policy provides coverage for, so that you know whether or not it will give you the protection that you need.

For example, a typical North Carolina homeowners insurance policy will provide coverage for your home, in case something happens like a fire or a flood. (Unless you live in a forest fire or flood-prone area, in which case you may need extra insurance riders.) These policies also can include coverage on any extra buildings on your property, like the garage, as well as reimbursement of certain goods in the home, like furniture and other decor. You might also see coverage for liability, in case someone is injured in your home, and for living expenses, should you end up displaced from your home due to a catastrophe.

A standard vehicle insurance policy also includes a number of different types of coverage, such as uninsured motorist, collision, bodily injury, liability insurance, and more. In order to make sure that the policies you’re considering include everything that you need, you should look through them carefully.

How Much Monetary Coverage Do You Have?

On top of the different types of coverage that you need to have on your home or vehicle, the amounts that are covered are important as well. Not only do you need to meet your state’s requirements for car insurance coverage, but you also need to have enough to ensure that your vehicle repairs, medical bills, and other things are covered should you end up in an accident.

The same is true for your homeowners insurance. If your house is damaged by a tornado, for example, and you need to have part of it rebuilt, you’ll need to have enough insurance coverage to cover those repairs. Otherwise, you may end up having to pay out of pocket, which can be extremely costly.

Examine your proposed policies carefully and ask yourself if you have enough coverage in each section of your insurance. If you’re wondering how much is enough, ask us! We’re happy to review your policies with you.

What About Your Deductible?

Finally, you need to consider your deductible. This is the amount that you need to pay out of pocket should you have to call in a claim. Standard deductible amounts range from $250 to $1,000. Usually, the lower the deductible, the higher your insurance premiums are, but this can vary. When choosing a policy, make sure that your deductible is an amount that you can easily pay.

If you’re having problems choosing an insurance policy, give us a call. Our well-trained agents can help you make the best choice to comfortably protect your assets and your family.