shopping for car insuranceThere is so much to consider when you shop for car insurance.  You don’t want to pay a lot, you want a good company to work with and you want a reliable insurance agent to help you.

Those are all very important values that you should consider.  But when you shop for car insurance, you should also look beyond those factors at the insurance company’s financial strength.   Let’s review what is important when you shop your car insurance.

Important When Shopping Car Insurance

Insurance Company’s Financial Strength

  • Look at the car insurance company’s rating.
  • Rating companies have websites available for you to analyze insurance companies across the country.
  • These companies rate car insurance, home insurance and life insurance companies.
  • A good sign that an insurance company will be around to pay your claims is their car insurance rating.
  • Premiums are important, but financial strength can sometimes be just as important.
  • You can pay very low premiums, but if the insurance company is not financially strong, they will not be around to pay current or future claims.
  • For peace of mind call your current insurance agent, ask them what the company insurance rating is.

Insurance Company’s Claim Service

  • You pay premiums for insurance coverage.
  • You want coverage for damage to your car and your bodily injuries.
  • You need coverage after car accidents.
  • You pay premiums for good claim service.
  • If the claim service is not there for you when you need it, that’s not good.
  • You want accurate claim assessments on your car and any bodily injuries that may occur.   You want fair claim payouts.   You don’t want to be forced to debate about the claim pay out.
  • You also want timely claim service.   You don’t want to wait and wait for return calls from claim adjusters.   You don’t want your car sitting in the auto repair shop because the claim adjuster didn’t look at it yet.
  • You want to make sure the claim service is available to you 24 hours a day, 7 days a week.   Claims don’t always occur during business hours.   You want to be able to start a claim any time of day or night.
  • You want to make sure the claim work is guaranteed for as long as you own the car.

Your Insurance Agent

  • You want your agent to be there for you.
  • You want an agent that fights the insurance company if you have a problem.
  • Your insurance agent is your advocate.

Insurance Company’s Premium

  • Last but not least, insurance premium.
  • Insurance premium is important, but financial strength and claim service can be more important.
  • You want to pay a competitive premium.
  • But to get a quality, financially stable insurance company with good claim service, would you consider paying a bit higher insurance premiums?   You may think about that when shopping your insurance.
  • You should also think about your credit scores when you are shopping car insurance premiums.
  • Insurance companies take credit scores very seriously when determining your insurance premium.