Kansas Insurance Commissioner Sandy Praeger is offering New Year’s tips on smart choices for insurance coverage.
Praeger said in her release that “even though most Americans, three fourths, feel they have about the right amount of insurance coverage only one-third say they understand the details of those policies very well.”
The Commissioner offers consumers the following tips on how to “get smart” about your insurance.
Compare identical products and services
Not every company charges the same rates for coverage. A wise course of action would be to do some comparison shopping to determine the best coverage at the best price. Keep in mind that it is important to compare identical policy information when doing this. Also, consider the convenience of dealing with a local agent, compared with the possible cost savings of dealing with a national company which does not have an office in your area.
Schedule an annual insurance check-up
Schedule a yearly insurance check-up with your agent or insurance carrier to review every policy you currently have to look for areas of too much or too little coverage. In general, you should review your coverage every 12 months or whenever there’s a major change in your life (new car, new home, birth, etc.). At every insurance check-up, don’t be afraid to ask a lot of questions, and be sure to take good notes.
Ask about discounts
Depending on the kind of insurance you’re considering, there are a number of ways to reduce the cost of coverage. Your agent can tell you if discounts may be available to you for things such as: a healthy lifestyle (ie. non-smoker, etc.); a good driving record; good grades; special education or training; having multiple policies with the same insurer; safety equipment (ie. alarm on your home or auto); having a long-time policy with same insurer; or assuming higher deductibles.
To contact the Kansas Insurance Department for more information, log onto www.ksinsurance.org or call the toll-free Consumer Hotline at 1-800-432-2482.
Source: Kansas Department of Insurance
Topics Kansas
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