By Rosemary ONUOHA

Most people only think about insurance when they need it after a devastating loss or calamity has occurred. This is addition to the apathy towards insurance outside when it is required by law or any other compulsive circumstance.

Insurance

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Unfortunately, if you don’t do your homework beforehand in getting the best insurance coverage available to protect your health, assets, and financial well-being; you may be left in a very bad situation.

How to find the right insurance.

Finding a suitable insurance company for your specific need may not be as simple as any shipping but you have some simple guide to it.

  1. Shop around:

There are many insurance companies and a wide variety of coverages. You may want to consider working with an agent (who sells insurance for just one company) or through an insurance broker (who represents multiple insurance companies) instead of buying online directly.

  1. Find a reputable insurance company:

You can’t trust your future to just any company without checking it out first. Insurance rating organizations can help with this. Also insurance brokers’ recommendations may be necessary. These companies will help you judge the insurance company’s financial health.

  1. Know what the policy covers:

Ask your insurance provider what the policy doesn’t cover. Every insurance policy lists perils that are not covered, known as “exclusions”. Ask your insurance provider to explain the exclusions in your policy at the outset, which will save you the stress and frustration of discovering them after you incur damage or a loss.

  1. Look for reasonable discounts:

Consider bundling several policies with one insurance carrier. There are some benefits of this strategy of bundling several policies with one insurance carrier. If you’re looking to insure multiple vehicles or obtain multiple types of business coverage, then you may want to find a single insurance provider who carries multiple products — they may be able to offer you multi-policy discounts.

  1. Cheaper is not always better:

Cut-rate insurance prices can, unfortunately, also mean cut-rate customer service and claims. The old adage ‘you often get what you pay for’ can be found real in this situation.

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Comments expressed here do not reflect the opinions of vanguard newspapers or any employee thereof.