Aug 10
18
Where to start?
It’s tough knowing where to start when you are shopping for insurance. In the past getting a good deal and great coverage would mean a lot of work on your part. Valuable time would be spent in an insurance brokerage or leafing through the yellow pages looking for someone to call. Most of these searches ended in settling on a policy out of sheer frustration or exhaustion and never feeling confident that you got the best coverage at the best price.
Thankfully, the Internet has changed a lot of that. More of your precious time can be spent enjoying life and in no time at all, you can use the resources available on the world wide web to find yourself a great deal. Not only that but you can find out a lot about the policy before you even pay a cent. Therefore you are in a much better position to compare not only price, but coverage too. You can be certain that the policy fits with your requirements and if you have any questions, then the contact information is right there. No more searching!
One of the best price comparison websites in Canada is run by a company called Kanetix. Formed in 1999 they had the great idea of providing a one stop shop for insurance customers throughout Canada. Their success was undeniable, one website which offers instant insurance quotes for auto and motorcycle, homeowners, condo owner’s and tenants, term life, critical illness, emergency medical travel, visitors to Canada and also business insurance. In no time at all they expanded their horizons and are now offering a similar service for consumers in the United States at kanetix.com.
Every day, thousands of customers are looking to Kanetix for their first step in their insurance purchase and it’s not hard to see why! Things change for the better at Kanetix. As reported in the Canadian Underwriter Magazine they have just launched a mobile insurance quote comparison service compatible with most new smart phones. Check it out for yourself here.
Aug 10
18
Before you buy insurance
The insurance
It’s common to believe that all the unexpected tragedies will never happen to you, but unfortunately it’s outwith your control and sometimes, they will. Buying insurance is a more cost effective way of protecting yourself against huge financial losses. With a good policy and comprehensive coverage, you don’t have to worry about the financial hardship that could come from having to rebuild your home from scratch after a devastating fire, or replacing your brand new car after it was stolen.
If you’re about to buy an insurance policy for the first time, it can all seem a little overwhelming and very confusing. There are lots of different types of insurance, and even more variety in the types of policies you can get. The biggest challenge we face is finding a policy that matches what we really need. How many of us know what we need? That can be tough to figure out when you don’t think anything bad will ever happen.
Certain types of insurance you may be required to have by law. For example, if you own a vehicle, the law requires you to have basic automobile insurance. There are so many vehicles on the roads these days, accidents are guaranteed to happen. The loss involved in these accidents can be devastating and extremely costly. You may be held liable for the personal injury and/or property damage of other people involved in the accident.
Shopping around for insurance is not quite as much fun as most other types of shopping. These days, the internet makes this a much simpler task. You can compare different companies and generate your own quotes, you can compare coverage and prices. There are a few extremely important facts to consider when you’re shopping around for insurance coverage.
- Do you need the coverage?
- What does it cover you against and what is specifically excluded on the policy?
- Are there special limits of coverage and if so, do they still fit with your needs or do you have the option to tailor the policy to suit your requirements?
- How much would be paid to you in the event of a claim? Would that value depreciate?
- What are your options with regards to paying premium? What would happen if you missed a payment?
Also something very important to research at time of purchase is, what should you do if your circumstances change during the life of the policy? For example if you have a home insurance policy and you move or if you completely renovate the home or if you have a health insurance policy and you are diagnosed with a serious condition?
Taking some time to think through what you need and what you could not afford to live with or without, is going to save a lot of time and trouble in the future.
Aug 10
18
Do you know about your insurance?
I don’t think I know a single person who gets excited about buying insurance. It’s one of those things you buy and hope never to use. We all complain about how much it costs every year and yet we keep doing it. The strangest thing about insurance that really puzzles and amazes me at the same time is, the majority of people who buy it, have no idea what it is, what it does, how they could use it if they did need to or what happens with their money once they have paid.
Imagine that for just a second, can you picture yourself walking in to a car dealership or a department store and a really nice man walks over, smiles and asks about your day and then he tells you, “Today, I am going to sell you something that you will never use, never understand and never question, and you will keep paying for it on an annual basis until you die.” It doesn’t seem like that would ever happen? Right??
WRONG!
It happens every day. Someone buys an insurance policy they don’t understand. They have no idea if it meets their needs or whether it will even cover them in the event of a terrible tragedy. All they know is, they should buy insurance, so they do! Simple as that.
Why is it that we plan every detail of our annual vacations, our weddings, our surprise parties to make sure nothing goes wrong and yet so many of us never make sure there are sufficient plans in place for the security of our homes, our vehicles, our health and our lives?
Unfortunately, we usually learn much too late, that knowing even just a little about your insurance policies, can save you a lot of money and a lot of heartache.
Hopefully, you will learn something from this blog and begin to take charge of your policies. It’s your insurance after all!
