How to Request Insurance Information
Insurance has many different types of policies with many different riders, benefits and solutions. To get the right kind of quote that offers adequate coverage for your needs, you need to prepare yourself before talking to an insurance agent. When you are focused, you will not be given "basic policy" quotes that may or may not meet your needs.
- Difficulty:
- Moderately Easy
Instructions
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1
Establish what type of policy you are looking for: health, auto, home, renters or life insurance. If you are looking for more than one policy, define this as well as you may be able to get better rates by packaging policies with one company, such as auto and home.
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2
Define your financial risk. In a home or renters policy, calculate the downside for you in a fire, theft or natural disaster. Know what would it take to rebuild or relocate or replace the items lost. For auto insurance you should know what it would cost to replace the car in total loss.
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3
Look at any existing policies you have for the type of insurance you are requesting a quote on. For example, if you are looking for new auto insurance compare the damage and liability parameters you have along with deductibles for repair. This will give you a baseline regarding premium prices for the same type of policy.
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4
Create a list of a bare-bones policy components, a standard policy and a premium policy for your needs. This helps you review premium prices based on the coverage. Although you may need higher coverage, you may not be able to afford it.
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5
Contact several insurance agents to provide you a quote on coverage. Provide them with the three lists you created to get an apple-to-apple comparison.
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6
Ask the insurance agent about packaging policies together. See if there are discounts for doing this.
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7
Inquire about the terms and conditions of the insurance policy. You will want to know if there are any penalties or fees for changes or early termination.
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Tips & Warnings
Generally, higher rated insurance companies have higher premium payments. Companies with "A" ratings through Moody's or AM Best are considered more solvent and safer insurance companies to do business with. You may pay a higher premium for this security. Check with online resources to determine the ratings of the companies you are requesting quotes from.
