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HOME : Just the FAQs Ma'amOnline Insurance - Buyers Beware!I recently started using the Internet, and was amazed to discover all the sites on the World Wide Web offering to quote on my insurance, or even sell it to me online! I found a really good price on a homeowner’s policy, but is it safe to shop for insurance over the Internet? Surfing the Web is a
great way to get information about insurance, but be careful you don't get
swamped! When it comes to shopping online, the best advice is "buyer
beware." There are several
different kinds of homeowners policies with many different coverage
options, so you have to make sure you are comparing apples with apples -
or applets with applets for all the techies out there! -- when you are
pricing insurance products online. That bargain-basement quote you've been
given may not be so economical after all if it's not the coverage you
need. To make sure you get
the right policy, you need to know exactly what is and isn't covered. That
means you must check all the features that are listed with one provider
and compare them with those of another. And you have to look at as many
sites as possible to get a good snapshot of what's available. If some
features are listed and some aren't, then you need to ask questions. In
effect, you are taking it upon yourself to analyze the insurance
marketplace. If you think that sounds like a lot of work, you're right! Many Web sites will
highlight those features that the seller believes are attractive to you,
and gloss over the less-attractive ones, even though they are part and
parcel of the coverage. Unless you can read the actual policy - or at
least discuss it with the insurance provider - it may not be possible to
determine important features, like limitations on specific types of
property, exclusions (what isn't covered), and optional endorsements
(additional coverage to "beef up" your policy). If, on the other hand,
you use the Web to gather information and obtain quotes that are followed
up by a phone call or more detailed information from the insurance
provider; it is a valuable resource. So, by all means, go online to
research your insurance needs, but stay on track! Note: Remember, policies vary, so when in doubt, Contact Us. |
