How To Compare Insurance Companies

12May - by 247howto - 0 - In General

Insurance companies are part of us and we need to understand how to compare insurance companies so we will know the best for us. Just as ladies say “all men are the same” so are insurance companies, they all look alike but some are better than the other just as some men are also better in character and attitude than others. As we usually do in 247howto, we are going to show you the ways on how to make the right choice in this so many populated sector. Am going to list some important points that you will have to consider when comparing Insurance companies.

  1. Cost: Cost is important when choosing and comparing insurance companies. Though this point is not really of utmost importance but is still part of the conditions you have to check through. Though better ones often charge higher.

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  2. Policies: Every company has their policies, although it fluctuates when it involves car insurance policy especially. Check for the duration of their policies if it involves you being locked with them for six months or a year.Remember that policies are very important and so should be a big consideration during your comparison.
  3. Scorecards: Just as you make a scorecard to keep a record of all points also do so when comparing insurance companies so you can keep record on the go. Let’s take a look at some of this important points that you need to keep track of.
    Price: As we stated in the first point in this article, price is essential as you undergo your research.
    Time taken to reply: Their ability of the agency to reply you quickly by calling you back with the price matters, you calling them on and on means they are not ready for business.
    Friendly: This part is very important because a friendly agent means they have good working relationship with their customers, so take this point seriously too.
  4. Check the rating: The rating system of an Insurance company is very important, this are the ways and short forms used to rate them;
    AAA: Extremely Strong
    AA: Very Strong
    A: Strong
    BBB: Good​
    BB: Marginal
    B: Weak
    CCC: Very Weak
    CC: Extremely Weak
    R: Under Regulatory Supervision
    NR: Not Rated

    Going through the insurance company profile gives you a better understanding of how good they can be. Though we have ones that advertises daily and being talked about by many, those are the top ones. Good luck on making your choice.