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Is this the cheapest insurance? Michigan auto, home insurance

posted Sep 9, 2015, 7:33 AM by Jason Grubbs   [ updated Sep 14, 2016, 12:02 PM ]
For many people insurance buying decisions come down to price.  Whether comparison shopping with different companies or checking with their own agent common questions people ask include: "Is this the best price?" or "Is this the cheapest I can get?"

It's important to note there can be considerable differences between insurance companies, particularly in how they respond if and when there is a claim.  And, really, that is your ultimate measure of satisfaction - you want to know if a loss occurs that your insurance company will respond promptly and settle your claim fairly.

How can you know beforehand whether an insurance agent and company are going to handle customer services issues and claims in a satisfactory manner?  Here are some tips:

Ask for referrals: Family, friends, neighbors, and co-workers can be a great starting point - which insurance agent and company do they recommend and why?

Ask the agent: When you receive a quote ask the agent a few questions:
  • Why are they recommending this insurance company?
  • Does the agent have their own insurance with this company?  Why or why not?
  • How does this company respond to claims?  Do they require you to use particular vendors or can you choose your own body shop, glass shop, or repair provider?
Research: The Michigan Department of Insurance and Financial Services website provides information on complaint statistics for insurance companies as well as reference guides for purchasing insurance and resolving complaints.

The better way to frame the question when comparison shopping is: "Is this the best value?" - a question encompassing price, coverage, and service.  More often than not the best value will be competitively priced, but if you pose the question strictly as "Is this the cheapest insurance I can get?" you might have the unpleasant surprise of getting just what you requested!

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