Re-evaluate Insurance to Save Money

Posted & filed under Advice & How-to, Car Insurance.

In a recent article about saving money on insurance, Ohio information portal Cleveland.com offered this advice from Robert Hunter, insurance director for the Consumer Federation of America. Policyholders, he said, should shop around for the best insurance rates every two-to-three years, because sometimes one insurance company will offer a rate that is half of what you’re already paying.

While there is something to be said for loyalty – some insurers even offer loyalty discounts for customers who renew their policies year after year, Hunter says that it’s important to re-evaluate every so often because sticking with an expensive company could cost you thousands of unnecessary dollars.

How should you shop for a new policy? Most experts agree that using online comparison engines is an excellent plan, but remember that price isn’t everything. When evaluating your existing company, or comparing possible new insurance providers, always research their customer services records, to see the ratio of customer complaints filed as compared to the total number of customers. Check user forums as well, to see what is being said in more open, less official channels.

If you find three or four insurers who are offering similar quotes and two of them have excellent customer service scores, those are the two you should take a deeper look at.