Re: OT--Automobile Insurance

Posted by oldtanker on July 27, 2011 at 07:33:56 from (66.228.255.223):

In Reply to: OT--Automobile Insurance posted by Jiles on July 26, 2011 at 11:26:41:

You get what you pay for most of the time. It's the same with insurance companies.

People need to stop thinking about insurance as something the government is forcing you to have on your vehicles and start thinking of what if! None of us expect to have an accident but it happens!

1. Learn a little about your state laws reguarding insurance and your VS their rights. It varies from state to state.

2. Check on line how the different companies rate in your state! Some insurance companies are great in one state but bad in others! In some states you can stack your policies on multipal vehicles. That means that if you have 100K in personal injury per vehicle, with 2 the policies stack and you are covered for double or 200K in this case per event (accident). Stacking generally cost a few dollars a month extra but when you have a bad accident and are injured can really save you in the long run.

3. Steer clear on companies that are slow in setteling a claim. It can make your life a living he** if your are trying to recover from a loss and have to fight with your insurance company on top of that. I may be a little more expensive else where but when you have a claim that little extra can come back to you in spades!

4. Read your policey! If you have any questions about the policey go talk to your agent! If your agent can't or will not explain things to you it may be time to change agents! You should be familiar with things like RCV (replacement cost value (really important for home owners)). The best time to figure out if your insurance is good and the agent ok is BEFORE something bad happens.

5. When a loss occures don't take your agents word that something isn't covered. You have a toll fre number, use it. Most state requirements for and agent are very low. Some states as little as 6 weeks of training. Most of the time they know just enough to be dangerous. That is why most companies provide a toll free number. They don't want you in court suing because the agent had it wrong. I've seen this more than once. Don't get me wrong, some agents are great and really know what they are doing.

With as sue happy as some people are anymore you really want good coverage. You don't need a mountain of medical bills that your "great price" insurance company is taking their time in paying or being sued because your insurance company isn't/hasn't paid a claim.

Not saying that a company that is cheaper is bad. But you need to know before some drunk tee bones you on the highway.

I was with a major company for my insurance. When I went to adjuster school and aquired my MN independant adjusters license I went and ask my agent (long term guy who has been and agent for a long time) some questions about what was covered and what wasn't. I was shocked at what this guy didn't know. I found a new agent.

Rick

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