Buying Insurance Should be More Complex than Agents Say It Is
If you just bought a new car, chances are that there is already an insurance agent or two, trying to tell you how their tie-up with the dealer makes their company and their policies a natural and simple choice for your car insurance needs. It is their job to sell insurance and, therefore, they cannot be faulted for trying to sell it to you. However, as a consumer, it is your job to be aware of the fact that there might be better options for car insurance that you would definitely miss out on by not even comparing those options with one another.
It’s Not Just about Cars
This is not just true for car insurance or home insurance either, a comparative analysis is a smart step for all kinds of insurance. Be it business insurance, income protection insurance, life insurance, health insurance, pet insurance, or even gadget insurance, it is always going to be a better and wiser choice to compare your insurance quotes before buying a policy.
How Comparing Quotes Actually Helps the Consumer
Insurance costs for some things are going to be higher than they will be for others, and that’s just a fact. However, due to the inherently competitive nature of the insurance market, the consumer can get a much better quote from the top providers, as they compete with each other to make a sale. In other words, comparing options may take more time and be slightly more complex than buying outright from the first insurance agent they come across, but the intra-industry competition can be used by them on a comparative platform to lower their insurance expenses down significantly.
You Can Get Personalised Policies
Instead of going for one of the standard policies, you can get a more personalised one with specific coverages included in the terms. In order for that to work, the insurer must feel that there is a chance that one of the competitors will take their business away. In the absence of such an environment, the insurer may not feel the need to comply with your requests. However, when you put your options against each other on an open platform, once again, competition comes into play and you are more likely to get a personalised, cheaper deal than you could ever get otherwise.
It doesn’t have to be super complex, but buying insurance should not be as easy as most agents make it out to be either. It’s a long-term commitment after all and you should be careful in your selection. An unbiased platform to compare various policies and insurers just gives you an opportunity to make a better decision in that regard.
It might still be costly after you get the best quote, but that premium will always be cheaper than buying without comparing all possible options. It is similar to how we shop for things online, but instead of searching wildly, the platform works as a unified base to compare and get quotes from one place.