Car owners know way too well that they are always a microsecond away from the next accident which may be grisly or minor. But while we all never wish to crash our dream rides, it happens rather unplanned and unexpectedly. Should you be involved in an accident and luckily escape alive, the next worry becomes how to get another similar ride as the just crashed one. It is here that a perfect car insurance company comes handy.
Nobody would like the double trouble of coming out of an accident alive only to engage in a cat and mouse race with an insurance company for compensation. Ideally, your choice of insurance company determines what experience the relationship will look like, especially when you need it to have your back as they should.
Always Take your car insurance choice seriously
As much as having your own vehicle would be so satisfying and a sign of great achievement, it could also be a great source of risk lurking over your head each day. Just by owning that dream car, you add a new risk into your other basket of existing risks. You may just suffer a collision,, fire, theft, flood or any form of damage which if money from out of the pocket is used, can run into tens of thousand dollars.
No one keeps a lot of money hanging just in case of an accident to spend it. So, the first point of call in such a situation would be your insurer. But it needs a caring, reliable, efficient and customer oriented insurer to guarantee help when you need it most. So here we break down the tell tale signs that your choice of insurer is good or otherwise.
What is car insurance ?
The meaning of the phrase car insurance may sound as a no brainer to many. In fact, it would be a waste of time to define it but before you can know the correctness or otherwise of your chosen insurance company, it’s very much in order to revisit what car insurance ought to be.
Car insurance, just like any other form of insurance, is supposed to safeguard your interests in your car in case an insured risk leads to a loss. It should essentially provide coverage to your car from any monetary expenses, which may occur due to any possible set of risks. The insurance document will specify in no uncertain terms and in clear manner which specific risks are insured and for which regular premiums must be paid.
An insurance package may contain a long or short list of risks as you may choose. But most common risks in the list include coverage against robbery, financial loss by accident or other liabilities. The premium of the insurance is commonly added on different parameters such as classification of car , type of car, etc. It is a tiresome errand choosing a car Insurance policy.
Tips to put into consideration when choosing an insurance company for your car
When taking insurance for your car, forget about the flowery language and proclamations that the companies use in marketing their products. Remember when the rubber meets the road and your situation becomes desperate, the company must be that which will stand by you, indemnify you against any losses and just make you feel comfortable. A miss at the point of selecting an insurer will pain you big time when making compensation claims.
Take your time to review the Company history and structure
Awkward as it may sound, take your time to read widely about your insurer more so if the value of the car you are about to insure is so high. The simplest thing that many people do is visit their website for more information.
But then the question is, which business will starkly put it out there that “last month, two of our clients made a claim but because they were ridiculous, we sent them back” or “we don’t have your back when you need us.” My guess is that no business can be that stupid. So what you need to do is check for past and current customers’ comments. The customer feedback today is a good social stamp on any business. Of keen interest about the company should be;
- Leadership
- Length of time in business
- Places they sell their products
- Mission, vision and values
- Financial situation
- Customer engagement
If the above information doesn’t answer your question or leaves you in a doubtful state, then you have freedom to research another company.
Reputation and reliability of the company
One of the most straightforward ways to ensure that you get good protection and value for your religious payment of premium is to find out the company’s authenticity. To first-time purchasers it takes time to do research on the company before proceeding to anything else.
It’s advisable to look for a car insurance company with a good public image, social approval and a critical mass of customers expressing their liking for its entire product offering as well as customer experience. In fact customer experience tells it all about the perceptions that the company has built over time for that is its brand you’re going for.
Cost of insurance quotation compared to the others in the market
The average cost of a car insurance can vary drastically from one insurer to another based on a variety of rating factors. By trying to compare the costs involved, you basically get to account for differences in rates with coverage options and discounts. Just be sure to compare quotes based on types and level of coverage.
If in doubt on how much car insurance coverage you need, work with an insurance agent for assistance. An insurance agent can listen to your situation, understand specific circumstances and recommend matching coverage. Once you are confident in the coverage types and levels you need you can match them with the quotes you requested. Keep in mind also that some companies may not offer certain endorsement this leads to variation of quotes.
Get to familiarize yourself with car insurance plan inside out
If its your maiden auto insurance, the wording used in the insurance policy may look confusing if not too technical. In fact, most people just slide the policy document in their bags without reading much but this is a great risk, riskier than the risk for which you took the cover. Just take some time off to glean on the policy and if something isn’t clear, get back to the company’s customer relations representative. This will help you communicate with your advisor better and make them understand what type of policy is required.
Check on trusted third-party ratings
Most people get the urge and temptation to settle for the cheapest auto insurance offered. Using a third party in your research provides a more well-rounded approach towards choosing a provider. The latter gives you unbiased data for your view.
Channels for day to day customer relations and policy administration
This is an important part to consider once you are a policyholder.It’s mandatory to interact with the company considering the following;
- All round the lock customer service
- Online claim reporting
- Policy changes
- Payments of premium
Insurance policy renewal process
Finally check the renewal process, you should ideally be able to renew your car plan. It needs to be done online, conveniently and quickly. This part is important just like purchasing a new car.
Conclusion and our Final Take
The key takeaway from this should be that a perfect insurance company isn’t something to bluff about or take lightly. You need to be very particular with and understand your needs. It is only then that you can do research and compare quotes around. Ignore the noises, feeling of intimidation and wearing out. Just get it done the right way so that when things go awry, you don’t have any worries.