General insurance 5 factors to consider when choosing an insurance company

Yugocean

Valued Contributor
Government insurance companies and other large insurance companies both promote and express their features on a large scale through advertisements. So it is known about them in advance. The rest of the person who wants to take the insurance can get the information from their branch or website (whichever is appropriate).
 

Augusta

VIP Contributor
I think these factors are important but if you ask me I guess there are still more factors that should be on the list which are not there. Well I appreciate the opportunity to learn about these though. As much as I want more to be added on the list, I’m still able to find some here that I didn’t know before
Yeah there other points that could be gotten online or from the companies themselves. But the most important thing is to avoid getting into the wrong hands that can get you scammed. It can be very frustrating at the end of the day that you were paying your premium to fake insurance companies
 

Mandy96

Valued Contributor
I think these factors are important but if you ask me I guess there are still more factors that should be on the list which are not there. Well I appreciate the opportunity to learn about these though. As much as I want more to be added on the list, I’m still able to find some here that I didn’t know before
 

Augusta

VIP Contributor
I understand it's truly annoying to lose your hard earned money to scammers most especially when they don't know the amount of energy and time you spent just to make such money , before registering for any policy it's better for me to check about the business offline at first before doing anything
You are on the right path bro. Maybe one need to go for insurance companies that have offices offline that you can easily check then out and be in contact with them offline. Having only virtual relationship with an insurance company might not really cut it. So it better to sort the ones out there
 

Wisdom01

Valued Contributor
This is very important when trying to work with any insurance company especially the ones gotten from online, it will be better to verify that they are real and not imposters. Because they are a lot of scammers out there masquerading as the real deal. It can be really annoying to lose money to scammers so everyone needs to be careful
I understand it's truly annoying to lose your hard earned money to scammers most especially when they don't know the amount of energy and time you spent just to make such money , before registering for any policy it's better for me to check about the business offline at first before doing anything
 

Augusta

VIP Contributor
Very good write up , what I do most times is to do my verification and check if the insurance company is legit , I will check if the company is registered as a company that can operate without any restrictions ,so that i will not invest in the wrong company
This is very important when trying to work with any insurance company especially the ones gotten from online, it will be better to verify that they are real and not imposters. Because they are a lot of scammers out there masquerading as the real deal. It can be really annoying to lose money to scammers so everyone needs to be careful
 

Augusta

VIP Contributor
You should do very well to check about how legit the company is because with the way insurance is becoming more and more popular by day many scammers are starting to use the opportunity. One very important thing also is to check the exact things that the company is going to cover and see whether it is favourable for you.
Definitely you are right about all the things one needs to check. But the most important is to be sure that the company is legit. Scammers are every where now trying to capitalize on the legit things to make fast money. When this issue happens it is going to be you that will bear the consequences
 

Setho

VIP Contributor
You should do very well to check about how legit the company is because with the way insurance is becoming more and more popular by day many scammers are starting to use the opportunity. One very important thing also is to check the exact things that the company is going to cover and see whether it is favourable for you.
 

Wisdom01

Valued Contributor
Very good write up , what I do most times is to do my verification and check if the insurance company is legit , I will check if the company is registered as a company that can operate without any restrictions ,so that i will not invest in the wrong company
 

Augusta

VIP Contributor
That's a very good tip. Most insurers don't take their time while investing in insurance company hereby falling into scam insurance companies. An intending insurer must try to do research whether on his own or employ the service of private insurance agent before he tries to partner with any insurance company.
Yeah, findings are very important. I think sometimes it is good to work with the popular companies since they have their name to protect and wouldn’t want to dent it with any bad scandal. To avoid trying away one’s hard earned money on scams working with a good insurance company is very important.
 

Augusta

VIP Contributor
You are correct and you really do well with the analysis you gave. It is very important to take cognisance of any insurance that one about yo insured property or life under so that one will not just enter trouble(one chance) or loss all resource contributed under insurance company. Thanks
Definitely, it can be frustrating and draining to find out the insurance company you were working with isn’t real. So it is always of importance to find out that the company exists in the first place, then compare their quotes to be sure you are not dealing with cheats. One just have to be careful
 

Augusta

VIP Contributor
When you are sure you need an insurance policy then you need to start by contacting an insurance company but before doing that you should consider these following factors to enable you have the best pick

First, find out if the insurance company is government accredited. You need to be sure it has been registered and it is recognized by the government


Find out the company's reputation you can read feedback or reviews on their website

Look at the financial stability of the company. You can find a way to get their statement of previous account to ascertain their financial statement no need being with an unstable company

You need to find out their customer service delivery as well that you would be good with it.

Very importantly check out their claims status, if the give their clients claims as when necessary.

What's your thoughts?
 

Alexandoy

VIP Contributor
When we insured our car for the damages and losses we choose the big insurance company. It is actually an affiliate of the biggest bank here so it is legit and stable when it comes to its finances. Some small insurance companies here has the probability of bankruptcy so we always avoid doing business with small companies when it comes to insurance needs.
 

sincerem

VIP Contributor
That's a very good tip. Most insurers don't take their time while investing in insurance company hereby falling into scam insurance companies. An intending insurer must try to do research whether on his own or employ the service of private insurance agent before he tries to partner with any insurance company.
That's why they say ignorance is kinda disease. We shouldn't be ignorant enough to neglect what we ought to do at the right time. Making researches and asking questions to get more satisfying results is what a potential insurer or policy seeker should do before going into insurance. Cos the risk is there for us to lose funds when the wrong decision is taking.
 

btaliat

VIP Contributor
That's a very good tip. Most insurers don't take their time while investing in insurance company hereby falling into scam insurance companies. An intending insurer must try to do research whether on his own or employ the service of private insurance agent before he tries to partner with any insurance company.
 

Mataracy

VIP Contributor
You are correct and you really do well with the analysis you gave. It is very important to take cognisance of any insurance that one about yo insured property or life under so that one will not just enter trouble(one chance) or loss all resource contributed under insurance company. Thanks
 

Augusta

VIP Contributor
Permit me to add another point. The insurer should be sure that he will not skip payments for the premium. That is why you should choose the premium that suits you. As you have points out, it is important to check the ratings of the insurance company you want to buy premium from. This is also very important.
Definitely, this is another good point. An insured should work the insurance company that their premium is competitive and they can pay at when due. I think it is mandatory to turn in your premium as at when due to avoid issues.this is the more reason why going for a premium one can readily pay is important
 

Augusta

VIP Contributor
You spoke well dear. When we consider insurance, we should put in mind to always research about intricate things about them being on to register with them. Knowing if they're registered under the government should be a priority. Is any business registered under the corporate affairs of government have higher trust rate from customers. And the customer care feedback should also be noted.
Well stated that is like the one thing that is most vital. It must be registered by the government to ascertain that you are not dealing with either fraudsters or scammers that are just out to feed on one's hard earned money. Without this die process it might just be a waste in the long run
 

Mika

VIP Contributor
First of all, you need to check whether the company is legit or not. These days a lot of companies try to scam people by showing forged documents. Once you have found the company to be legit, check what kind of products are being offerred. Choose a company that offers the best coverage.
 

Lens1000

VIP Contributor
Permit me to add another point. The insurer should be sure that he will not skip payments for the premium. That is why you should choose the premium that suits you. As you have points out, it is important to check the ratings of the insurance company you want to buy premium from. This is also very important.
 
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