The insurance industry has sold their clients short by deciding it is too hard to talk about coverage. They reduce this really important and HUGE financial investment to a dollars and cents decision.
Let me speak to the women out there: When was the last time you went into a store, or online to buy shoes, and only used the price as a decision point? EVER??
So, why would you put your entire financial future into a decision based on price ONLY? And to continue with that analogy, what if you couldn’t even see what kind of shoes you were buying? You know they are NIKE. Ok, you know the brand. But are they athletic shoes, sandals, boots? It is the middle of winter and you open the box and purple sandals arrive- they are ugly and your feet are going to freeze. But they were cheap!
Most of us would think this silly. But my point is, most consumers make their insurance decisions based on price alone with NO idea what policy and coverage they are truly purchasing. The day will come when you get in an accident (it happens), or have a claim on your home or business. You open the box and HOPE that you have coverage. Often, you are angry because you don’t. I get it- it is hard!
So, find a good broker. Someone who represents a bunch of companies. Let them explain to you the pros and cons of your coverage with various companies. Then you can make your decisions based on the product and the value proposition, not just on price!