Before you make this grand investment, it’s important to take your time deciding and know what your specific insurance needs are. To help with the decision process we have composed a list of key questions and suggestions to consider when buying insurance:
What type of coverage do you need?
- Are you looking for home or auto insurance? Or both?
- What is the guaranteed replacement cost coverage for your home?
- Do you have a home business? Are you looking to obtain a separate business insurance policy?
Will you be combining multiple policies together with one insurance company?
- Are there any multi-policy discounts?
- How many drivers are living in your household? How many have vehicles? Is there a multi-vehicle discount?
- Will you be needing coverage for any motorcycles or seasonal vehicles such as snowmobiles or RVs?
- Do you have cottage or a summer home which needs to be insured?
What will happen if you make a claim?
- Will you lose any claims-free discount?
- Will making a claim impact your rates?
- Do you pay for an at-fault claim yourself?
- Is there a homeowner’s deductible on every claim?
- How do you make a claim? Can it be done online?
Additional questions you may want to ask:
- Are these the lowest policy prices?
- Can you save money by changing your deductible?
- What are the cancellation rules?
- Are there any extra incentives? For instance, 24-hour claim service and first accident forgiveness.
Buying insurance can be challenging. Be sure you have the right information, before making a purchase. Take time to compare different quotes. Find an insurance provider which best suits your needs.