Evaluating the Cost of Umbrella Insurance | The Case History ...

Umbrella insurance policies can cover multiple vehicles, or they can cover an entire range of assets, including boats, homes, recreational vehicles, motorcycles, ATVs and other things. In this article, we will discuss how to choose the one that is right for you.

When you?re a young adult, it seems like insurance is not that big of a deal. Then as you get older, you realize how important it is to have assurance that you won?t lose what you have worked so hard for. Insurance does just that. By paying in a little every month, you have someone to go to in case of a catastrophic event. But rather than having one policy for your car, one for your home, one for your marine equipment, one for your RV, et cetera, you can often bundle these separate policies into one big umbrella policy, under the same company. But how do you know which one is right for you?

The key here is to research and compare. With the advent of technology such as we have today, there has never been a better time to shop between different insurance companies. You can usually compare rates on separate companies online, and in many cases, you can ask the companies themselves to compare rates among their competitors. The other trick here is to make sure you are comparing ?apples to apples.? In other words, that you are comparing comparable policies between two different companies. This is really the only way to make sure you are getting the best bargain overall.

Also, take your time deciding. The insurance company giving you the quote may try to press you for a decision immediately, because they don?t want to lose a sale. It?s best to take some time to think about it, and decide with your spouse, or a trusted advisor before you make any rash decisions.

And finally, nothing beats a good old-fashioned phone call. If you have done your research, and you have narrowed down the search to just one or two companies, take the time to call them on the phone. What kind of customer service do you get from one phone call? Do you get an answering machine, and endless amounts of button pushing? Or do you get an easy to understand help menu, and access to (gasp!) a live body? This can make a difference later, when you are wanting information, or you need to file a claim. Some companies are great in the sale, and then not so much with the customer service.

By evaluating separate companies, and comparing similar products dollar-for-dollar, you stand a better chance of getting more for your money, when the time comes for selecting a comprehensive umbrella insurance policy.

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