There is a split feeling about insurance companies. It can be challenging at times to determine if your insurance company is among the good guys or the bad guys. Naturally commercials and advertisements seek to comfort you and inform you of the company’s dedication to you – the customer. Yet there are so many horror stories of insurance companies refusing to pay up or creating endless hassles that it is hard to feel comfortable with any provider.
Start With the Facts
Insurance companies should have information available on their websites or through monitoring agencies that give statistics about their services and payouts. Read through the fine print of any and all offers you’re considering. Look for exclusions and special clauses that seem unusual to you. Failure to provide windstorm insurance in an area prone to hurricanes or tornadoes might be clue, for example.
Discuss the facts with the insurance company to be sure you have the correct information. The windstorm insurance might be a rider to a traditional policy as a rule, or it might be something you need to investigate further by discussing the matter with other companies.
Find References
Asking the insurance company representatives for references or looking at testimonials on the company’s website will reveal plenty of satisfied customers. They wouldn’t point you toward the unsatisfied ones. Start asking your friends and coworkers for recommendations in the insurance field. You’ll likely hear a mixture of glowing reports and dire warnings about certain companies and individuals.
If you are warned away from a company, ask for specific details of the situation. It is a matter that should be taken seriously, but if, upon hearing the story, you realize the situation has more to do with a lack of knowledge on the part of the homeowner or driver than the fault of the insurance company, you might not rule the company out completely.
Check Official Sources
Armed with facts and opinions, start to research companies you’re considering in official sources. Respected reviews from consumer watch groups and governmental or commercial oversight committees will have information on file that is valuable to you. Check for legitimate complaints on file with the Better Business Bureau, and while not official, scan message boards and posts on forums used by consumers to complain as these complaints might yield official statistics or reports about the company with other sources.
Making Your Decision
Once you’ve generated information and have personal references and opinions from actual clients of the company, you’re ready to make an educated decision about companies. Likely you’ll wind up with two or three that seem comparable in most regards. Price might be the determining factor between the choices, but when possible leave price out of the equation. Focus instead on the perceived value of the company. Look for the company that will give you the most for your money – not which one costs the least. In the end, it is your perception of value that determines how satisfied you are with your insurance company.
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