How to Find a Good Insurance Company

Introduction

People invest in insurance policies in order to ensure that they have funds during emergency situations.  Purchasing an insurance policy is an important financial decision.  There are many insurance companies in the market.  A good insurance company should be efficient and reliable.  Finding a good insurance company is definitely not a cakewalk with so many players in the market.

What should you do to find out a good insurance company?

Here are some points which will help you identify a good insurance company:

  • Meet insurance agents of various companies and let them brief you on their offers.  Visit the websites of various insurance companies.  Take time and compare the benefits before deciding.

  • Governments of various countries normally compile information regarding insurance companies like their customer complaint ratio, etc.  Refer these to have an idea of how the insurance companies are serving their customers.  

  • Companies like Standard and Poor rate the overall performance of insurance companies.  These ratings help you very much in deciding which insurance company is good.  

  • Insurance companies which have businesses in more than one country are generally more efficient. Axa, Allianz, Prudential, Metlife, Aviva and Aegon fall into this category. These companies incorporate best practices in their business and provide world class customer service. 

  • Speak to experts to find out which insurance company they would recommend.

  • Visit the insurance company’s website and check the “Contact Us” link.  You will have an idea of how “Customer friendly” the company is. It is advisable to go through resources posted on the websites. They contain wealth of information. 

  • Consult you friends, relatives and colleagues. They may share their good and bad experiences. Their opinion helps to to eliminate bad insurance companies.

  • Do not jump for a cheap insurance policy.  Cheap insurance policy need not be the best.  Most of the time they are worst.  Service is more important.  It does not make sense to invest in an insurance policy of a company which would take ages to process your claims.

Getting a good insurance policy is a challenge. But it is definitely possible if you use the above mentioned information. 

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