Nationwide tells you they are on your side, State Farm, is like your good neighbor and Allstate has you in good hands, but reality check, they are not. The truth is that insurance companies are businesses that sell financial protection against risk. What you get for your dollars is a promise of payment under the terms of the policy at some date in the future. The bottom line, you have a contract and nothing else.
When you purchase or renew insurance you should do at least three things: have an understanding of the coverage available, check the insurance company's financial strength, and check the claims history of the company.
To get an understanding of the coverage you can refer to literature the company provides, which should give you an honest plain English version of what the coverage is for and what it covers. You should keep this material from the company you buy or renew your policy with. If the coverage in the policy and the ads don't match what the contract says, this evidence may help you recover despite what the policy says.
You can check out insurance company's financial strength, and claims histories at the department of insurance in the State where you live. Most departments keep track and allow public access to complaints that are found to be valid. Any insurance company can have some complaints, but if there are numerous complaints look for another insurance company.
Keep in mind that if you end up making a claim on your own policy you and your insurance company are adversaries. The insurance company's obligations and yours are defined by the contract. Don't buy coverage because of an ad, buy it because it meets your needs, the company is financially strong, and has a good track record of fair treatment when paying claims.
When you purchase or renew insurance you should do at least three things: have an understanding of the coverage available, check the insurance company's financial strength, and check the claims history of the company.
To get an understanding of the coverage you can refer to literature the company provides, which should give you an honest plain English version of what the coverage is for and what it covers. You should keep this material from the company you buy or renew your policy with. If the coverage in the policy and the ads don't match what the contract says, this evidence may help you recover despite what the policy says.
You can check out insurance company's financial strength, and claims histories at the department of insurance in the State where you live. Most departments keep track and allow public access to complaints that are found to be valid. Any insurance company can have some complaints, but if there are numerous complaints look for another insurance company.
Keep in mind that if you end up making a claim on your own policy you and your insurance company are adversaries. The insurance company's obligations and yours are defined by the contract. Don't buy coverage because of an ad, buy it because it meets your needs, the company is financially strong, and has a good track record of fair treatment when paying claims.
