Unlike shopping for clothes, or new electronics, many people don’t exactly consider buying insurance a pleasant experience. Because of that, the temptation to get it done as quick and as cheap as possible can cause some to make numerous mistakes, resulting in inadequate coverage and/or unreasonable (and unnecessary) expenses. To help you avoid making mistakes when buying insurance, we explain a few of the more common missteps, and how a little care can help you prevent them.
Make Your Insurance Matter
Don’t Assume You Can’t Afford It
Whether it’s for your house, car, motorcycle, boat, personal water vehicle, or any other sizeable asset, one of the most common mistakes is to not buy insurance at all. The most common reason for it is the misconception that adequate insurance is too expensive to make sense. With a custom-built insurance plan that only contains the specific coverages you need, you may be surprised how much you can save.
Know the Difference Between Deductible and Premium
The most commonly-recognized terms in insurance, the terms “premium” and “deductible” are not always known as well as they’re recognized, and the misunderstanding can drastically affect your insurance policy. The deductible is what you pay out-of-pocket in case of an incident, while your premium is what you pay every month/quarter/year towards your policy. If your deductible is lower, then your premium will be higher to compensate.
Understand What Your Insurance Entails
In the rush to secure insurance, you might be tempted to gloss over the seemingly-mundane details. Besides how much you have to pay towards your premium and deductible, the details can seem more routine than necessary. Yet, it’s the details of your insurance, such as what exactly is covered and under what circumstances, that define whether or not you are truly covered. With a focus on educating our clients as well as protecting them, we can help you thoroughly understand your policy without making the details boring during a one-on-one consultation with an independent insurance agent.
ABOUT YOUR CARROLLTON INSURANCE COMPANY:
With over 20 years of experience in the insurance industry, the Jeff Van Matre Insurance Agency can help you choose the right coverage plan to protect your personal and business assets and put your mind at ease. To learn more, or to get a free quote, call our Carrollton office today at 972-492-8500.