INSURANCE

All the information you need to know about all types of Insurance policies

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Friday, Oct.  14, 2005

3 key points to selecting the right insurance company. 

As well as making sure you are getting the best deal you can monetarily you should always ensure that your insurance company is one that you can rely on in your times of need. The circumstances that usually surround any insurance claim can be difficult ones at best, your insurance company should be there to help you during these circumstances not to make things worse. There are 3 main key elements to ensuring that the insurance company you are going to select are worth the money you are going to pay.

Financially sound.   

You don’t want to place your insurance with a company that is going to go into liquidation. You face the loss of your insurance, and often people don’t find out until they need to make a claim. You don’t need to do all the maths yourself but you can check their site for the news section and the shareholder section. Check the business sites and do a search by the name of the insurance company. If there doesn’t appear to be any bad news then you should be ok. Obviously you can’t predict what is going to happen to a company in ten years time but you can try your best

Customer care level. 

This will be a vital aspect to any insurance claim or enquiry you make and you should be able to get a good understanding of their level of customer care right from the outset. If you have any questions about the policy you are interested in, no matter how small and insignificant the question may seem ring the company and ask them. If you don’t have any questions then think of some. If an insurance company can’t manage a good level of customer care while you are still a potential sale then they are very likely to fall at the first hurdle when you come to make a claim.

Insurance specific details.   

A good example of insurance specific details is the list of physicians for a health insurance policy. If your health insurance policy is a managed one then you will be required to select from this list. You should be able to see the list before you agree to anything; this list may or may not have a few details about each physician but either way it’s your job to take a closer look at them. Find the doctor nearest to you and then look up his details on the physician finder that the American Medical Association offer. This has a list of over 690,000 physicians and gives details of their specialist area, education and plenty more useful information. If they’re not listed here you’re probably better looking for the next closest physician.

Research and request. 

These are the two things you can do to ensure that you are buying your insurance policy from a reputable company that will be able to offer you exactly the services you require, when you want it and for as long as you need it. Insurance is supposed to give you peace of mind and by thoroughly and rigorously checking these factors you will be one step closer to full peace of mind.

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