Auto and House Insurance...what to ask!?

Question

I'm a first time auto and house insurance buyer....yipee (NOT!)

As I shop around for prices, I find each of the policies vary so much. What are some key questions I should be asking? What are the things I should be inquring about which will greatly affect the future with this insurance?

In other words, to those of you who have had experience with insurance policies, what do you find most important in having on your policy? How do I make sure I'm well covered??

Thanks!!!

Answer 1

When it comes to insurance prices, they varies across insurance companies which are due to the company pool other word means who they have in the book of business. The best thing to do is to shop as much as possible & compares the coverages in details, ask about the limits because all company offer similar coverage but the limits can be very different :-

especailly deductibles, any rental car or any other features. Also ask about the future, how your rate will be lower.

I hope you will find it useful!

Answer 2

Okay here are some major differences in policies:

Home-

Personal property and Dwelling amount- Is this policy giving you Replacement Cost or Actual Cash Value? If your 5 yr couch was burned in a fire, Replacement Cost or RC, will give you enough $$$$ to buy a new, simaliar couch. Actual Cash Value or ACV will only give you the amount you could have sold your couch for right before the fire. RC is much, much better.

What are my limits on things like Jewelry, watches, furs, and silverware? These items are often limited in there coverages.

Are my belonings covered away from the home? If so how much?

Does this quote have any kind or sewer/water back up coverage?

If I file a claim how much will my rate go up and for how long?

How much liability coverage am I getting? This is the most important, but most overlooked part of a Homeowner's policy, check to make sure all of your hard earned assets are covered in the event of a law suit. It's cheaper than you think to increase your coverages and if you have children and/or a considerable amount of wealth, you may look into buying an umbrella liability policy.

What is my deductible? Is it a split or single deductible? Some companies offer things like a $500 ded. except for wind and hail which is 2% of the dwelling amount. While these can be more affordable, it is important to know what you're getting into.

Auto-

Again, what is my liability coverage?

Do I have Uninsured/Underinsured coverage?

How are claims handled with your company? Where do I go?

Is glass handled differently?

If I have an accident how much will my insurance increase? How long?

This is what I would ask and what I cover with all of my customers.

Also, a great non-profit site is http://www.iii.org , the Insurance Information Institute. They have tons of information.

Answer 3

For auto insurance shopping consider this things: top 3 consumer purchasing factors, other than price, are Service, Financial Stability, and Complaint Record.

Here numerous methods to lower the price of your insurance auto insurance policy.

1.    Always have a clean driving record exempt from traffic tickets and car accidents.

2.    Simply avoid  high performance sports cars or very expensive vehicles for they are most likely prone to car theft.

3.    The condition of the car and how old it is.

4.    Enroll in an accident prevention or defensive driving course.

5.    Consider having a higher deductible, meaning you assume more of the risk yourself.

Answer 4

chose a comprehensive policy,so that way you can get everything covered, yes you will have to pay a little,but you will have peace of mind.