11 Most Common Insurance Buying Mistakes To Avoid

Most common insurance buying mistakes to avoid. Pretty couple discussing their insurance policy with an insurance agent.

(4) Not Asking For Discounts

It is one of the popular yet common insurance buying mistakes to avoid while finalizing policy. Discounts are a great way for insurers to attract customers worldwide.

Several insurers are offering best insurance discounts on various types of policies such as car insurance with good driver discounts, discount for insuring multiple items, discount for carpooling, discount for adding storm-proof shutters, taking a job with shorter commute, discount for installing home alarm system, etc.

However, you will not be able to get credit for these discounts unless you asked for the same to your insurer. Thus, you should make sure to ask your insurer regarding your eligibility for a particular insurance discount.

(5) Ignoring A Bad Complaint Record

It is one of the highly ignored & common insurance buying mistakes to avoid while comparing policies. Smart people often shop around every few years. It is best strategy to get best insurance deals to save your premiums.

It is a good idea to hunt for the best & favorite policy deals. However, You should not switch insurers too frequently just to save few dollars without considering insurer’s customer-service ratings. It can prove to be very costly at the time of asking for insurance claim.

You can get an idea of insurer’s customer-service ratings through National Association of Insurance Commissioners’ Consumer Information Source.

Thus, it is highly recommended to never ignore bad complaint record of insurers while selecting the best provider for your needs.

Image Source: Shutterstock

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