Talk to an Insurance Agent Before You Shop
Did you know that switching insurance agencies frequently could be a red flag for insurers? Shopping for the best premium is a short-term solution that could result in long-term losses. Staples and Associates can explain why you should talk directly with an insurance agent before you shop for a new policy.
Why Re-shopping Isn’t Always the Best Answer for Lower Premiums
Potential Gaps in Coverage
At Staples and Associates, we want to take care of our clients, and match them with the best policy options. While you may find a cheaper policy when looking into switching companies, it could result in a loss of important coverage. Lower premiums often come with reduced protection, such as higher deductibles or exclusions for certain types of damage. This can leave you underinsured when you need it most.
Short-Term Savings, Long-Term Costs
While switching to a cheaper insurer might give you immediate savings, it could lead to higher costs in the long run. Some insurers may offer low introductory rates that increase after the first year, meaning you could end up paying more once the promotional period ends. Check with your current insurer to make sure you are getting all the available discounts before making a switch.
Impact on Insurance Score
A history of frequently switching insurance providers could negatively impact your claims history, and therefore your overall insurance score. Insurers may view it as a risk, which could lead to higher premiums or difficulty getting coverage in the future. Stability with one insurer can help you maintain a positive claims record. Learn more about insurance scores and how they affect your premium.
Risk of Losing Personalized Service
At Staples & Associates, we pride ourselves on providing personalized service. If we are your current insurer, we want to understand your specific needs and circumstances every year. Shopping for a lower price might result in less tailored advice or support when dealing with a claim.
If you’re thinking of switching insurance companies or reviewing your policies, sit down with an agent from Staples and Associates for a full review. Our team is ready to make sure your policies balance your risk and premium costs effectively for your home, car, or business.