| To find the cheap insurance select any of the insurances in the drop down in the above form and then click on “Get Quotes.” |
When people say they want to deal with a cheap insurance company, what they really mean is a company that will sell them solid, comprehensive insurance at an affordable rate, and then will pay promptly and fairly when claims are filed.
The standard wisdom insurance customers can read time and time again is “comparison shop for rates.” The advice is true. The best way to get cheap insurance is to base your selection on multiple rate quotes. But most people fail to take their research to the next level.
Research Insurers Through Your State’s Insurance Regulatory Agency
Every state has an insurance bureau, department, or division charged with regulating insurers operating in the state’s borders, as well as investigating questionable business behavior on their part, and even approving rate increases. These agencies maintain websites where consumers can investigate individual insurance companies and even learn about ongoing insurance fraud.
For instance, in Florida, a state historically plagued with insurance controversies, the Florida Office of Insurance Regulation maintains a website at floir.com. Consumers can use the “Public Records Request” to discover information on insurance companies and even specific agents. On a broader level, A.M. Best at ambest.com provides ratings on the financial strength of insurance companies worldwide with easily accessible online tools. Best has been a full-service credit rating entity for the insurance industry since 1899.
Good Companies Offer Low Premium Rates, Comprehensive Coverage, and Financial Stability
You want and need to know if the company has a solid reputation for customer relations, and if they are financially solvent. An insurer who has money problems isn’t going to readily pay benefits when you file a claim, which is not the answer you want to hear when you’re desperate for cash after your home and belongings have been destroyed in a fire or natural disaster.
The best “cheap” insurance company is the one that gives you the correct balance of a low premium rate, high customer service, and solid financial standing. Given the highly competitive nature of the business, with insurers aggressively going after home, life, and auto insurance customers, finding a good rate isn’t as hard as you might think. Finding a solid insurance company is a different matter.
Insurance Companies Offering the Cheapest Rates Are Also Willing to Negotiate
While harder to evaluate in the beginning of a business relationship, flexibility and a willingness to negotiate are also desirable traits in an insurer. Ask about potential discounts for things like buying all your policies from the one company or receiving your bills and other communications electronically. In some cases insurers will grant lower rates based on profession or military service. If a company is not willing to discuss discounts with you, it could be a sign of inflexibility when it comes to claims settlement as well.
Shopping for a cheap insurance rate is not the only part of finding affordable premiums and having a satisfactory business relationship with an insurance company. Take the time to find out something about the insurer’s financial stability and reputation for customer service to cultivate not only an inexpensive, but workable insurance arrangement.
