How to Choose the Right Car Insurance Broker

Many people are concerned with the price of their car insurance policy, but few consider how their insurance broker will treat them if and when they need to file a claim. For tips on finding a good insurance company with a strong reputation and excellent financial standing, read on.

Shop Around

The first step in finding the right insurance company is to see what your options are. Talking to representatives from a number of different companies and explaining your individual insurance needs is a good way to see what each provider can offer you. Get quotes for your policy and ask questions about the company’s procedures. Be picky, because ending up with an insurance company who isn’t on your side is the last thing you could ever want if you have an accident.

Read Reviews

Thanks to the internet, it’s easier than ever for people to share their opinions on things, including car insurance companies. Doing a simple search on the web or asking around within your social media circles could offer you some insight, but remember to take reviews with a grain of salt. There are always two sides to every story. One bad review isn’t enough to turn away from an insurance provider who may be able to offer you good coverage at a reasonable price, but if you see hundreds of bad reviews about one particular company, you may want to make note of it.

Check With the Department of Insurance

After you have taken customer reviews into account, it is a good idea to check with the department of insurance in your particular state or province. Most people don’t know this, but every state has its own department of insurance, many of which publish consumer complaint ratios on their website. These ratios show how many customers filed a complaint for every thousand claims the company dealt with. The department can also alert you if the company you are considering is doing business illegally in your state. This surely wouldn’t be a problem for any of the big name insurance companies, but if you are thinking about buying a policy from a smaller company, this is definitely something you will want to look into.

Look Into the Financial Strength of The Insurance Company

Many different companies offer consumers ratings which show the financial strength of any given insurance broker, or rather, the company’s ability to pay money on a claim. As with the above, this is never a problem for the big-name companies, but it’s worth investigating for any of the lesser known ones.

Talk to People Who Work at Auto Body Shops

People who are employed at body shops have to deal with insurance companies all the time, and therefore may be able to offer consumers valuable information on which ones have the smoothest process in dealing with claims. They also can see which companies are willing to sacrifice quality in order to cut costs, doing things like pushing for cheaper engine parts versus parts made by higher quality name brands.

 

This guest post was provided on behalf of GetInsuranceQuotes.ca, Canada’s leading auto insurance comparison website.

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