The Top 3 Things You Need from Your Insurance Provider
Driving on the open road is one of the most iconic American images. We all do it. And while our daily commute to the office or trips to the grocery store may not actually be all that glamorous, we nevertheless all take to the streets almost every single day.
One prerequisite, though, is having insurance. It is largely seen as something of a necessary evil — and one way our paychecks take a hit every month. That’s the biggest reason why so many people are always looking for a better, cheaper policy.
Does this sound like you? If so, the following represent three things to look for in an insurance provider before switching auto insurance plans or looking for coverage for the first time.
1. What Are the Coverage Options
The auto insurance you need will depend at least somewhat on where you live. Different states require different minimum coverage before you can legally drive on the roads. So you will need to find a policy that meets this standard — at least — and most providers will be primed to ensure your coverage is tailored to your location.
Beyond that factor, you will want something that covers you for as much as possible. Collision, medical payments coverage, and personal injury protection are all popular — for good reason — across the nation. And comprehensive coverage is often seen as the ultimate in peace of mind.
The bottom line: If your provider doesn’t offer a wide range of options, find a company that does.
2. What Are the Price and Rates?
While we all want the best possible coverage, let’s be honest: Price matters. Most people won’t balk at spending $10 per month for a policy that is significantly better. But the market has changed a lot in the past 20 years and it can start to feel like a commodity, particularly when we’re talking about auto coverage.
If you have the means, it’s always better to go above and beyond the state-mandated minimum coverage levels. So you don’t want to get the absolute cheapest policy available in most cases. But there is a reason that there are so many online comparison guides and instant quote offers now: We all want to pay less.
The bottom line: If your provider wants you to pay too much for your coverage, find a company with more competitive rates.
3. What Other Benefits Are Offered?
There are often benefits of using one provider for various types of insurance and financial services. Beyond the ease of dealing with fewer companies, there can be discounts or other incentives that make it worth your while to have various policies — or even bank accounts — with the same company that provides your auto coverage.
USAA, the leading financial services provider for military families, is one example. It seeks to offer its active duty members and veterans benefits like family discounts and no payment plan fees for auto insurance while also having checking and other accounts easily available.
The bottom line: If your provider doesn’t offer some extras and special features, you can probably find one that does.
What You Need in an Insurance Provider
In the grand scheme of all the financial services available, auto insurance isn’t all that complicated. You need to have the minimum coverage, you want to get the broadest coverage, you don’t want to pay more than necessary, and you ideally should be getting a few other benefits.
There really isn’t much more to it than that. So just make sure your insurance provider is coming through on these big-ticket areas of auto coverage and service, and you will be able to confidently put the pedal to the metal and go wherever your heart desires.