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14.4 Providers and Claim Process
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o Independent agent.
*Can do some comparison for you.
*Some looking around still necessary.
• Best sources for searching for insurance are the internet, your family, and the Insurance Review. This is the best source.
• An insurance salesman is just like any other commission-based salesman: they want your money.
Make sure they have your best interest in mind.
o Agent that works for one company.
- Loyal to their company.
- You must shop around to find the best deal.
How to File a Claim
• Q: What do you have to pay before the insurance company will pay for anything?
• A: The deductible.
• Any damage caused that is lower than your deductible does not require you to file a claim.
How to Choose an Agent
• Your agent is the link to your insurance company.
• Any question you may have about a claim is asked through him/her.
• The type of coverage you want is continuously changing.
• Two kinds of agents.
How to Choose an Insurance Company
• The only way to choose is to research.
• Find each company’s strengths and weaknesses.
• You also want to know how long it takes them to respond to a claim and how long it will take you to get reimbursed.
o The best way is to check Consumer Reports.
Providers and Claim Process
• Insurance is an ongoing relationship.
• In exchange for your premium, you expect quality service.
o It is important to shop around.
• A low price doesn’t necessarily mean you should buy it.