Four Things You Need to Look for When Shopping for an Insurance Company

1. Price. Insurance policies and prices vary greatly from one company to another, so it pays to shop around. Get at least three price quotes from companies, agents, or from the Internet. Check with your state insurance department, it may publish a guide that shows what insurers charge in the various parts of your state.
2. Insurer stability. Make sure that the company you buy from is financially stable, so that you know they’ll be around to pay any claims. Few things are more devastating to your financial future than to have your home burn down, and then the insurance can’t or won’t handle your claim.
3. Service. The insurance company and its representatives should answer your questions and handle your claims fairly, efficiently, and quickly. You can get a feel for this by talking to other customers who have used a particular company or agent. Also check with your state insurance department to see if it has a complaint ratio that compares the number of valid complaints with the company’s share of policies in your state.
4. Availability. Whether you buy from a local agent, directly from the company, by phone, or the Internet, you should be able to contact the company or agent easily. If you can’t, consider get-ting another company. Fast and easy claim service is one of the basic things you’re paying for.