Which automobile insurance
company is right for you?
Whether bringing a car
accident claim or just trying to understand costs, coverage and exclusions,
avoiding the stinkers will make an enormous difference in both what you are
able to recover and how you are treated.
However, because Pennsylvania
Insurance Department's website http://www.insurance.pa.gov/portal/server.pt/community/insurance_pa_gov/
lists hundreds of insurers, choosing the best carrier can be challenging.
In selecting an insurance
company the main points to consider are stability, service, comfort, licensing
and cost.
1. Stability
Insurance is purchased for
financial protection and to provide peace of mind.
Research insurance companies to
determine if the insurer is stable, financially sound, and likely to be around for
the duration.
Remember, because they are
paid commissions by the insurance companies, insurance agents and brokers are
often conflicted and unable to provide you fair and unbiased information.
2. Service
Your insurance company and its representatives should be
able to answer your questions and handle your claims swiftly, efficiently
and fairly.
Talking to other customers
who have used a particular company or agent is an excellent way of determining
what level of service is being provided.
Further, in addition to state insurance departments, many national
claims databases exist listing and indexing complaint information for
particular a insurance company and service relative to the number of policies
it sold.
3. Comfort
Whether purchasing insurance
from a local agent or directly from the company over the phone or the Internet,
you must be comfortable both with the insurance you purchased and ease and
responsiveness of communication with the insurer.
Make sure that the agent or
company will be easy to reach if you have a question or need to file a
claim. Consider whether you prefer a company that has
agents you can visit locally or how quickly and satisfactorily it responds to
information requests.
4. Licensing
For your state insurance department
to regulate your carrier and resolve any problem you may have, a prospective insurance
company must be licensed to operate in your state.
Contact the state insurance
department (http://www.iii.org/state-organizations) to determine which
companies are licensed in your state.
5. Cost
Because insurance policies' coverage
and prices vary greatly, shopping around is critical.
Get at least three (3) price
quotes from companies, agents and from the Internet.
Further, your state insurance
department http://www.iii.org/state-organizations may publish a guide listing
what insurers charge for different policies in various parts of your state.
