Learning how to manage your insurance needs is important. Having quality insurance will ensure that when the unexpected happens you will be covered. There are so many different types of insurance out there and so many different ways to handle your insurance needs. Here we’ve complied some tips to help you.
When selecting a company that sells travel insurance, always go with a third-party company. While many airlines and cruises sell travel insurance, it is most likely designed to protect the company offering the trip, not the consumer. Travel insurance is a great investment, but only if it works for you.
By having all of your insurance policies with one company, you can often receive many different discounts that would otherwise not be available to you. Spend some time asking your representative about how much they could save you if you switched all of your other policies to their company.
Bundle your insurance policies with a single company to save money. Often times, insurance companies will offer a significant discount to consumers who purchase multiple policies from them, such as home and auto. When talking to an agent about your automobile needs, let him know you’d be willing to use him for your homeowner’s insurance as well.
Keep a written log of every conversation you have with the insurance company, including the date, time and length of the conversation. This will ensure that you and the insurance company are both on the same page about what’s been said. Recording this information can also help you reach a settlement, in cases of mishandling by the insurance company.
When purchasing insurance, make sure you buy it over the internet. Most insurance companies offer discounts for those who purchase their coverage over the internet rather than in person or over the phone. Some offer discounts between 5-15%. It may not seem like a lot at first, but it adds up over time.
If you want insurance companies to deal fairly with you, then you must do the same for them. You might be tempted to pump up your claim or say you lost more than you did, but if you do this, you will add fuel to their concerns about claimant fraud and they are less likely to deal with you in an honest way. It’s the Golden Rule, once again: report your loss fairly and honestly, with all the details needed, and accept what appears to be fair value (if in fact that is what you’re offered).
Keep track of changes to your insurance policy, and contact your insurer periodically. It’s possible that you’ll find ways you can save additional money, or erroneous information that should be removed. You might be spending a lot of money on clauses you do not need anymore.
Insurance coverage can be a minefield of unfamiliar terms, fine print, discounts, coverage levels and so on. There’s no way we can cover everything you need to know here but hopefully this has been a good starter to get you on your way. Research your particular needs and make sure that you stay covered!