Learning how to manage your insurance needs is important and having quality insurance will ensure that when the unexpected happens, you will be covered.
There are so many different types of insurance out there and so many different ways to handle your insurance needs, so here are some tips we've complied to help you.
Handling Insurance Claims
When filing a claim with your insurance company, be proactive about getting updates and information about your claim status.
If you simply wait for the insurance company to tell you how much they owe you, you could be in for a very long wait.
As they say, the squeaky wheel gets the grease.
Insurance For Work Property Used at Home
Make sure you get insurance to cover work-related property when you have a telecommuting or independent contracting job.
If you work from home, your rental or home owner's insurance policy does not cover work-related items such as computer equipment used for work so having a separate policy protects work-related property from theft or damage.
Choose A High Deductible
In order to get the best rates on insurance, you should choose the highest deductible you can afford.
This can lower your rates by as much as 25%.
It is important however that you would be able to cover the deductible amount in the event that something would happen to your home or auto.
Guaranty Funds
When you have found a company to insure you, find out if that insurance company is covered and licensed under the state's guaranty fund.
This fund will pay claims in case your insurance company defaults.
Check with your state insurance department and they will be able to provide you with more information.
Research Carefully
Insurance coverage can be a minefield of unfamiliar terms, fine print, discounts, coverage levels and so on.
There's no way we can cover everything you need to know here but hopefully this has been a good starter to get you on your way.
Research your particular insurance needs and make sure that you stay covered!