Insurance advertising messaging often focuses on price, suggesting extra savings with whichever insurer is featured in the ad. In truth, you may (or may not) save money with a given insurer or by switching. Each household’s situation is a bit different. Rates can differ, as can eligibility for discounts from one household to the next. A more important point, however, is that price is only one consideration when choosing the best way to protect your family and your future.
Your insurance policy should fit the needs of you and your family as closely as possible. A focus on price alone might not align with this goal. Instead, look for policy features and insurer benefits that meet your needs while working with your agent or broker to optimize your policy for cost-efficient coverage.
Coverage options
Some policies can limit coverage options. While a simpler structure can often lead to lower rates, the coverage itself may not be a perfect fit for your needs. For example, some home insurance policies might not offer full replacement cost coverage for personal property as an option. This can leave a coverage gap because a claim may not pay enough to replace your belongings if damaged in a covered claim. If this feature is important to you, you may want to choose a policy that offers full replacement cost coverage.
Insurer financial strength
Insurance is a product we hope we never need to use. But if you do have a claim, by choosing a company with strong financial strength ratings, you can be better assured that your insurer can process claims promptly when you need the support most.
Focus on service and claims
In a perfect world, insurance sits quietly in the background, unused. If you do have a claim, however, you need your insurer to be responsive — and you need prompt claims clearance. Look for customer ratings that reinforce a strong service commitment and efficient claims handling. Your agent or broker can recommend providers with a strong commitment to customer service.
Available discounts
Some insurers might offer stronger discounts for households that meet certain criteria. For example, some insurers may offer stronger discounts to military members, while others may offer a stronger discount for bundling more than one type of policy with the same insurer. Consider your overall insurance needs when choosing coverage, but the right discounts can help make your policy more affordable.
Contact Wells Insurance for a quote that takes these factors into account.