How do I pick an insurance company?

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by AJaye Brown on Sep 11, 2014

There are many insurance companies, so choosing between them can be a challenge. Here are the main points to keep in mind when selecting an insurance company:

  • Licensing 
    Not every company is licensed to operate in each state. As a general rule, you should buy from a company licensed in your state, because then can you rely on your state insurance department to help if there’s a problem. To find out which companies are licensed in your state, contact the state insurance department.
  • Price
    Many companies sell insurance policies and prices vary greatly from one to another, so it really pays to shop around. Get at least three price quotes from companies, agents and from the Internet. Your state insurance department may publish a guide that shows what insurers charge for different policies in various parts of your state.
  • Financial Solidity 
    You buy insurance to protect you financially and provide peace of mind. Select a company that is likely to be financially sound for many years, by using ratings from independent rating agencies.
  • Service 
    Your insurance company and its representatives should answer your questions and handle your claims fairly, efficiently and quickly. You can get a feel for whether this is the case by talking to other customers who have used a particular company or agent. You may also want to check a national claims database to see what complaint information it has on a company. Also, your state insurance department will be able to tell you if the insurance company you are considering doing business with had many consumer complaints about its service relative to the number of policies it sold.
  • Comfort
    You should feel comfortable with your insurance purchase, whether you buy it from a local agent, directly from the company over the phone, or over the Internet. Make sure that the agent or company will be easy to reach if you have a question or need to file a claim.

Source: III

 

Contact Southern Insurance Associates today to look at options for an insurance carrier to fit your needs. 706-996-8788 or .

 

We look forward to hearing from you and how we can help!

Two Article Comments

June Robinson

As I get older, I am realizing more and more how difficult it is to pick the right insurance company. With that said, I really appreciate the guidelines here, and I think they can help me and other people in my situation to make a more informed decision. I especially like the tip of picking a company that will be easy to reach and make me feel comfortable if I have a question. Thanks for sharing this!


AJaye Mashburn

June I’m so glad you enjoyed this post and got some valuable information from it. I hope we continue to provide information and tips that increase your knowledge and awareness of the insurance industry and how it can best help you.


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