Finding your insurance quotes are one thing. Comparing them in a meaningful way something quite different. As with the many other useful articles on the site, IF compare 2015 offers you some great tips on how to compare the policies you’re looking at for the best possible deal.
Of course, the thing that sways us most when we’re looking at any kind of insurance deal is the cost, but don’t be tempted to make it the only thing you look at. Of course, you’re unlikely to be best served by going for the most expensive option out there, but the cheap option can be just as bad an idea too.
But before you even get as far as trying to compare two quotes you have received, take a step back and make sure that you have everything in writing. That way, there can be no misunderstandings, no variances according to the sales clerk you are talking too, and no misheard information. Have the actual policies you’re being offered in print with you alongside the quotes, and you’re already part of the way to finding yourself the best possible policy for your needs.
Next, be very wary of sudden price drops. Dramatically lower prices always need a second look. Usually it means the policy itself does not compare well with others it appears to be related to at first glance, or that they’ve left out a significant portion of benefits. Neither are ideal.
Talking about details, your coverage limits are vital. This will, of course, impact the amount you pay for your insurance quite significantly- don’t let that sway you towards coverage limits lower then you actually need. Low coverage limits can bite you badly if you have to use your insurance, as you’ll find yourself significantly short of the funds you need to cover the damages or the missing items- and the rest will have to come from your back pocket. Of course, you also want to make sure that you are not paying for significant coverage you do not need, as this will help trim costs without losing value, but you do need to be certain that you’re realistically covered in case of emergency.
Another area that often comes back to haunt those searching for budget insurance is the exclusions part of the policy. This is perhaps the one area in which a lot of patient reading is required and can literally save your behind when the time comes. Not all types of coverage are standard. To take classic car examples, roadside assistance or reimbursement for rental vehicles are often not standard in the policy. What might appear to be a savings at first glance will actually cost you dearly in the event of policy use.
Overall, be sure to read the contract and policy thoroughly- that means the fine print too- if you want to come out on top of the insurance policy hunting game. Otherwise, you risk being duped by a deal that looks great on the surface but lacks the features you need most from these all important policies.