How To Research Insurance Information

Introduction

Many American consumers feel discouraged because insurance prices are continuously on the rise. There are also a lot of shady insurance companies and deceptive insurance discount programs that you have to be on the lookout for. These are also on the rise. All of them use the same language so that if you don't understand insurance information you wont find out that you only have minimal coverage until its too late. This is why you need to shop around for insurance coverage and utilize all possible resources to fully research an insurance company before utilizing it.

Step 1

The first bit of insurance information that you need is the license or policy number, the name of the policy and exactly what is being offered. You should also find insurance information about the coverage network and its umbrella association. To get this information pick up your phone and call your states Attorney General to inquire about these things. Once you have this insurance information you should give it to your agent and ask if they are able to verify both the legality and the validity of their company and what it offers.

 

Step 2

Inquire about any complaints, convictions or investigations about the insurance company. Whenever you are researching health insurance information you should ask the company about its history of unscrupulously denying claims. For homeowners insurance you should inquire about sudden or unfair spikes in premiums that are caused by natural disasters.

 

 

 

 

Step 3

Stop by the Better Business Bureau website. Provide them with the insurance information that you have gathered together this far. Search through their “Customer Reviews” section, which is located on the business profile page. There you will learn about any first hand experience that others have had with this insurance agency, whether they are good, bad or ugly. Keep in mind that even if a company is licensed and doesn't have any legal issues on record doesn't mean that they have stellar business practices.

Step 4

Find the website address for the company. Visit this websites “About Us” page in order to learn more about them. Check out the plans, products and services that they offer in order to see what type of coverage they include and what their pricing is like. Make sure that you also visit their “Providers” or “Coverage Network” links in order to see what professionals and facilities are willing to accept this type of insurance. You will want to actually call these offices to verbally verify this insurance information.

 

 

Step 5

Check out any website that focuses on consumer insurance advocacy (like the National Insurance Crime Bureau, Families America). Use the insurance information that you have already gathered to inquire about the companys validity. This will help you to avoid any potential scams.

Tips and Comments

Once you have gathered all of this insurance information together and taken all of the aforementioned steps, you should take time to share the experiences that you have had with an insurance company. This can be done on a consumer advocacy website. It will help others who are searching for the information in the future.

Comments

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