Buying Insurance? Never Shop on Price Alone

Buying insurance can be confusing, but when the unexpected happens – a house fire, a dented door or a broken bone – it’s a relief to know that some of those financial losses will be covered. But how do you know how much coverage you need?

Always resist the urge to simply choose the policy with the lowest premium. Consider the company’s reputation and the coverage you will get for that premium. Also make sure you are shopping apples to apples and getting quotes based on the same coverage that you have.

The point is whether you are insuring your house, car or yourself, never shop based on price alone. If you are unable to make the comparisons yourself, you should seek the professional expertise of an insurance broker who will help you go through the details and assist you to make the best choice at no extra cost to you. A lot of times, you ended up saving more when guided by a competent insurance broker.