Every other commercial on tv these days seems like it is from an auto insurance company promising you to save money on car insurance if you will just give them a call. So, which insurance company really does have the lowest insurance rates on car and home insurance, and, is the lowest price the most important thing?
Here is the thing about insurance; “once size does not fit all.” Lets take two neighbors, they live next door to each other, drive the same car, similar houses and all that. The first neighbor tell the second that he found a really great rate through Progressive; so the second neighbor calls to get a quote from Progressive. But the second neighbor gets a terrible quote from Progressive when he calls and finds out that is not the best rate for him. Progressives rate is much higher than what he is currently paying with AAA. Why is the rate so different for these two neighbors who are very similar when it comes to the home they own and the car they drive?
Each insurance company has different algorithms that they use to calculate a rate for a consumer. The algorithms use a vast amount of information. Some carriers put a large emphasis on credit score, while others may put a large emphasis on driving history, and still others may put a large emphasis on age, or marital status, or education, occupation, claims history, mileage driven, prior insurance, prior insurance limits, and the list goes on and on and on. This is why two people, who seem similar on the surface, can get vastly different rates from the same insurance company.
The key to getting a great rate on your insurance is to find the company who your individual “scores” align with the best. The carrier whose algorithms look at you and go, this is the type of person we want to insure. When that happens, you get a low rate on your insurance.
This is the beauty of using an independent insurance agent, or broker. A broker can shop around and find that company that REALLY wants to insure you and will give you the best rate. But, not all brokers are the same. Brokers are limited to the carriers the represent. Some brokers may only represent a few companies. Others may represent many many companies. You want to use a broker like Insurance Professionals of Arizona that has a good “sample size” of carriers for you to choose from. IPA also has some carriers that other brokers just don’t have access too. The carriers are sometimes picky as to which agencies they will allow to offer their products. They don’t just hand out contracts to every agency that asks.
We do believe that price is important. We don’t want anyone to over pay for their insurance. We also believe that although price is an important thing, it isn’t the ONLY thing. Coverage does matter. Ask someone who has had a serious claim. They will either rave about their claim or tell you how it was the worst experience ever. Nobody is ever happy when they either find out their claim is not covered, or they have to hassle with the insurance company to get their claim paid. Trust us, there is good, better, best when it comes to insurance. The key is to get the carrier that will give you the best coverage at the lowest rate. Again, this is where a solid professional broker can really be an asset for you.
If you are looking to get a quote on your home insurance, auto insurance, boat insurance, life insurance, or other for other insurance needs, please contact Insurance Professionals of Arizona. Our highly skilled agents can help find you great coverage at a great price.