Have you ever heard the term “I will give you an apples to apples insurance comparison?” What does that really mean anyway?
The idea of an Apples to Apples comparison is to quote your current coverage with a new company to hopefully give you a better rate, however, we are comparing insurance, not produce. There are no two policies that are exactly alike. When you are comparing your insurance you should take several things other than coverage into consideration. For example, does your new insurance provider have a local office, or do you have to call an 800 # every time you have a question? What sorts of discounts are offered? Does the agent selling your policy have your best interest at heart, and are able to help you make the best insurance decision for you and your family?
We cannot leave coverage out of the equation. Since no two policies are exactly alike, you need to make sure you are getting comparable coverage. Make sure to check your liability limits, med pay limits, uninsured and underinsured motorist coverage. Also, does your current policy have towing coverage or rental reimbursement? Make sure you are matching those limits. A lot of times other companies trying to get your business will leave the little things out, like towing and rental coverage. Don’t forget to check those deductibles too. When getting a comparison quote, make sure you are quoting the exact deductibles you have now. Remember, the lower your deductible, the higher your premium, so it is not unlikely for your new company to quote higher deductibles to get you a lower rate. What about accident forgiveness or a deductible waiver for your first claim; do you pay for this coverage or is it automatically included in the coverage you have, and does the company you are getting a quote from offer the same thing?
At Simco we listen, we learn we educate — we explain the coverage differences. After all, you aren’t just buying a piece of paper. You are gaining a consultant, a friend and someone who will look out for you and your family.