Tips when Comparing Insurance Quotes

With the proliferation of internet and online marketing, a host of insurance companies have sprouted up like wild mushrooms. Each one of these companies offers a plethora of alluring insurance options and quotes that can confuse even the intelligent clients.

Keeping the need of the clients to make a comparative study of the quotes, several insurance companies have come up with websites especially devoted to insurance quotes to make it easy for the prospective clients to arrive at an enlightened decision.

These websites broadly classify the important insurance needs of the clients and offer quotes based on them.

Signing up with an insurance company is like entering into a long term relationship like marriage or business. It is, therefore, highly advisable to pay attention to minute detail and finer prints of the offers and quotes of an insurance company before you throw your lot with it.

Some important points that you should bear in their mind are:

1. Claim processing time

Claims processing forms of some companies are so long, complicated and confusing that it becomes difficult for common clients to fill them up without making any mistake. This may result in delay in getting the claim. What are the survivors of a deceased to do if they cannot get the insurance claim well in time for the funeral of their family member? Do they process claims over the telephone?

2. Cover Extension

Some people may have to stay beyond the stipulated time while traveling abroad. Will the travel insurance company extend the policy on such occasions? Do they levy punitive charges?

3. Your individual needs.

You are susceptible to dental problems. Or, your health cannot cope with climate changes. What kind of facilities and options does the insurance company provide to such individual needs?

4. Incentives and rebates.

Some companies offer rebates and premium reductions. For example, if you pay your premium regularly for a period of one year, you get free cover for one month. Others offer flexible payment options to suit the individual budgets.

5. Ease of changing policy cover

Good companies allow for changes in insurance policies according to the changing needs of the clients. You can, for example, ask for increase in your insurance cover beyond the stipulated limit according to your changing personal circumstances.