It seems like an odd topic; preparing to save money on something. Most people get an itch to go online and quote their insurance. Usually this is prompted by a bill that is higher than expected or bad service. While you can always shop anything and find a lower price out there I do have some helpful tips that could make the process slightly more productive.
What is the pain-point
First its important to understand why you are shopping. I’m guess there are more exciting ways to spend your time? If you received bad service it is completely understandable that you would want to find someone who values your business. After all, they are getting paid to help you with your insurance. Are you switching because you feel like you are paying too much? Was it a gradual increase or the result of a new purchase like a vehicle? These will be important factors in searching for your next policy. Be sure to tell the next agent why you are shopping so you can immediately have a better situation and everyone is on the same page.
What are your coverages
Make sure to have your current coverages at your finger tips. Its not a good idea to shop insurance and guess. Likely a licensed insurance agent put time into determining what your home should be insured for. There also may have been a risk analysis done to determine how much liability protection is best suited for you. Matching your current coverage is smart but also can help you really determine if your current rates are really that much higher after all. If you can save $30 per month but you have reduced your liability in half that’s not a great value. Also keep in mind once you switch you may lose discounts like “longevity” which will take time to reacquire.
Be prepared to shop your entire “package” of policies
Usually people feel like shopping their car insurance is the fastest way to save money. It seems easier and most insurance companies advertise this type of shopping. There may be hidden discounts you are giving up when you just move your auto insurance. Make sure you don’t save money on your car insurance then your home policy, and other, increase because you lost a “multi-policy discount”. You also may get benefits of having your car and home with the same company and you may lose those benefits as well.
Shop smart
Finally, make sure to shop smart. If you go online and get a quote make sure you are seeing comparisons and not just a quote from one company. You may end up spending an entire day shopping when an independent agent like us can give you 10 separate quotes and thus a more complete view of how competitive your current policy really is. We get paid to shop for you and we love it!
