This is a client by Gordon Insurance Agency, a member organization of the Renaissance Alliance. It is a position that has been presented on the Blog Personal Insurance Agency.
The insurance can be puzzling- more you know, the better. Surprising as it may seem, the insurance is not quite on the money. Thus, we created a list of things to know about insurance for your convenience.
1. Amount of cover
What do you want to protect? This is the general question of determining the amount of coverage you need. The best advice we can offer is for you to think about all the things that could happen. Or consult a professional agent will ask many questions to find the areas you need to pay special attention. Although you might want to push those thoughts to the side (ie, "that could never happen to me!"), Someone has to think about these situations. No one plans for a car accident or a customer to be injured in his / her house, but things like that happen all the time. A good way to cover a lot of these is by running a prepared list as the checklist for your home insurance.
2. Risk Level
The amount of risk you take may depend on one aspect of your life: money. If you have money available, then choosing a policy with high deductibles is probably the best option for you. Remember, "make sure that you can not afford to lose."
Obviously, this part of the list will also discuss the risks. Some policies cover more than other policies, so be informed about how much risk you can afford to take, and what is the cost of transferring the risk (through insurance)? An example of this would be is a dog with a bite history. The only company that will offer coverage after a dog has bitten someone (resulting in an insurance claim) is the Plan Just Massachusetts (MPIUA). But they could do with a liability limit of $ 25,000 for dog bites. So you have to ask, is the dog is worth as much to me as if he / she bites someone and it results in a request for $ 100,000 (we had one here that has exceeded this and even no a dog 'on the list'), are you willing to pony up the next $ 75,000? Make sure you know what is covered on your policy, and be careful with what you take chances where insurance is wrong.
3. The insurance company
People often assume that the insurance company will be able to handle anything and all-you should never assume. If the business fails, or even if the company is still around, but poor finances, then you will not get what you need. The best way to ensure that your company will be able to provide for you is to check a credit rating agency. We recommend A.M. Best Company for this. Other credit rating agencies include Fitch Ratings and Standard & Poor's.
4. Discounts
Everyone likes to save money; Discounts may be available all around you, and you might not even know it! For a list of most (MA) Auto insurance discounts prevalent, click on our video and list. For homeowners discounts, visit our short video on owners discounts here. account reductions, where you have two or more lines (such as home and auto), are often the most compelling.
Always ask questions of staff, he / she is there is serve you.
5. When do I need to watch a new insurance?
Some life changes will cause you to look at a new insurance. These changes include:
- Starting a new business
- The purchase of an additional house
- Adding a driver to the policy of the automobile
- Changing jobs (especially if you leave a rich benefits package for strict bones employer benefits)
- volunteer work (as on the board of a nonprofit organization )
This list just help prove a very important point: the insurance is not just about the price. For a few dollars more, you can have all kinds of things protected. Consider the dog example- imagine how expensive it would be to defend a bad dog bite without insurance! Regarding insurance, price is important, but it is not the only thing that matters.
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