Insurance is very confusing. And it is impossible for you to review every piece of your policy before it begins. Over the last decade of working in insurance, we at AZ Insurance Team have seen a lot of common mistakes over the years. In todays’ blog we will go over a few of these to try and help you not make the same mistakes.
One of the biggest mistakes that people make is miscalculating the amount of coverage that they will need. Whether you overestimate or underestimate, it can cause you headaches and empty your pocket books out fast. Your premiums could be too high for what you need, or even worse you could file a claim just to find out that you do not have enough insurance to cover everything.
Not comparing quotes can also cause you to have many different issues. By only sticking with one insurance provider, you could be missing out on lower premiums, as well as just better coverage.
Make sure that you read the fine print of your policy, especially about the claims process. This can cause a lot of problems later on down the line if your insurance company is hard to work with.
You have to update your insurance policy for every major life change; whether it is home renovations, income changes, or big purchases. They all must be reported or you could go uninsured.
Selecting a deductible that is right for you is one of the most important steps of the insurance process. Making sure that you understand what a deductible is, and how it affects your premiums and claims can help you in the long run.
A lot of people, for good reason, focus solely on the price. And while we all want the lowest premiums, it is good to know what coverage you are getting. Always going for the best price may end up biting you in the end as the coverage you are getting could be a lot worse.
In the end, working with a broker like AZ Insurance Team can help mitigate all of these issues. We have been working in the industry for over a decade and have seen almost everything! Let us help you find your perfect policy, give us a call at (480) 535 5709 today!!
Independent insurance brokerage located in Tempe, AZ. We offer auto insurance, homeowners insurance, life insurance, renters insurance, commercial insurance…
Disclaimer: Coverage will vary on state, insurance company, and type of policy.
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