TIPS TO CHOOSE THE BEST INSURANCE COMPANY

When was the last time you purchased an insurance cover?  Well, if you don't remember, then you are undoubtedly treading on slippery ground.  None of us want to be caught off-guard by life's uncertainties.  It's therefore critical that we have a backup option in times of crisis.  This is where purchasing insurance covers also come into play.

Many Insurance Companies offer various services. It's therefore quite an uphill task discerning which could be the best company to spur your success.  Having been in the business a long time, at OIG, we understand what is best for our clients.  It is for this reason that we roll out for you this guide insurance tips.  It will help you choose your best insurance company.

Honesty, and Reliability

Insurance covers are usually long-term commitments between the policyholder and insurer.  It's therefore critical that your insurer can oblige to the terms outlined in the agreement.  Check through their numbers for settled claims to get a clue of their credibility level.

Claim Rejection Rate

Due to unfortunate situations, you may be forced at some stages to settle for rejection of your claims.  Though it's somewhat reasonable, it's also a red flag with regard to your insurer's credibility.  Remember high rejection rate could mean weak credibility on the insurer's side.
 
Requirements, and Products

Does the insurance cover you're about to buy meet your requirements?  Well, when determining in your insurer will fulfill your needs, these factors should guide you.

• Your Lifestyle.
• Your Yearly Income.
• Your Current Health Status.
• Your Current Liabilities etc.

 
They should also put on offer a wide range of products for you to choose from.  Be sure to confirm that the products they put on offer conform to your needs.

Related Read: How to Insure Your Hunting Club Insurance

Response To After Sales Queries

Another very critical factor when choosing an insurance service provider.  Your Insurance Company should have a responsive team that will readily respond to your after sales concerns.

What is your Insurance Company’s Claim Settlement Ratio?

Your insurer's Claim Settlement Ratio is arrived at by averaging the total claims received in a single year against the settled claims.  It speaks volumes about the credibility of the company too.

The Solved Grievances

Feel free to screen through your insurer's list of grievances that they successfully put to bed.  If your insurer tends to respond positively to complaints, then you too stand a chance of being heard.
 
Customer Service Personnel

Finally, when looking for the best insurance company, check for the responsiveness of their customer care personnel.  Are they able to answer your questions efficiently, and on time?  They should help you understand the terms, and conditions alongside the potential benefits in the course of your contract.