We have all heard the stories: accidental fires within an apartment; random acts of theft in the new town home community and/or the unexpected natural disaster that damages the roof on a home. In moments like these insurance protection is a must. I am sure we have all seen the commercials about who can save you the most money. Truthfully speaking, maybe all of them can save you money but the maximum amount saved and who can provide the savings are just one of a few considerations.

There are several insurance options (including: renters, home, condo, auto, life, health and annuities) and depending on needs and personal situation each policy is structured to match your (i.e., policyholder) specific requirements. A quick reference of each type of insurance option is provided below:

- Auto Insurance provides the necessary security and protection for you and your family members in case of a car accident.
- Home Insurance provides protection and security for your home in the event damage is caused from burglary, fire, or natural disasters.
- Renters Insurance protects all personal property when damaged or destroyed due to fire, lightening, smoke, theft, water or electrical damage and even neighbors/roommate carelessness.
- Condo Insurance is unique in that it insures the specific unit that is owned and all personal property.
- Health Insurance ensures proper medical care will be provided in the event of illness or any medical emergency.
- Life Insurance provides financial support to family members in the event of death.

Now, the first reaction might be to just go with the agent that provides the lowest insurance rate quote. And that’s okay however your selection of agents should be reviewed a bit more carefully. Remember that this is the person you will need to contact in the event an emergency occurs, as a result 24/7 customer support and timely response is critical. Other factors you should consider include: knowledge and experience with insurance options that are right for you; history of paying out claims in a timely manner and capable of providing multiple insurance products. It is true that you are not obligated to remain with the same insurance agents forever; in fact, it is recommended that you periodically get new insurance rate quotes from competitors and be sure you are getting the best available rate; however it is good to know you are working with the best and most qualified insurance agent.

Here are a few additional items to consider:

- License - Be sure the insurance agent is licensed by your state insurance department and check for other professional designations like CIC (Certified Insurance Counselors) or CPCU (Chartered Property Casualty Underwriter).
- Knowledge - Does the agent have the specific insurance product knowledge that you require? Request a copy of his/her resume.
- Response Time – Is the agent available when you call, does it take a few minutes, hours or days for the agent to return calls. Also, can his/her associates assist your needs?

This entry was posted on Tuesday, February 17th, 2009 at 1:08 pm and is filed under Take Cover.... You can follow any responses to this entry through the RSS 2.0 feed. You can leave a response, or trackback from your own site.