When it comes to choosing an insurance policy, the cost of the premiums is going to be a major consideration for most people. However…
When it comes to choosing an insurance policy, the cost of the premiums is going to be a major consideration for most people. However, don’t fall into the trap of finding the cheapest policy on the market and signing up without asking any questions. You may find in these circumstances that you get what you pay for and you could find yourself out of pocket when it comes to claim time.
Compare Policies Carefully
Recently, Money Magazine published the popular Best of the Best 2015 and a number of insurers were named as providing the cheapest insurance policies. However, it’s important to note that the category of cheapest insurance was used in all but two of the awards rather than focusing on the best featured policies.
Although the cheaper insurance policies are worth considering, make sure you take a close look at the Product Disclosure Statements to ensure that you’re getting the cover you need. Also, consider any extras that you may need as you might find yourself paying more for these when you choose a cheaper policy.
Although it can be tempting to simply go for the cheapest option, you may find that another policy is slightly more expensive but comes with far superior features. Before you settle on an insurance provider, get a number of quotes to compare prices but also compare the specifics of the policies and ask if any extras are included. The last thing you want is for it to come to claim time, only for you to discover that your policy doesn’t provide the cover you expected.
Use Your Insurance Broker
To make things easier for you when it comes to choosing an insurance policy, speak to your insurance broker and they will be able to compare a number of products on your behalf to find not only the best price but also the policy that best suits your needs.
Insurance brokers have extensive knowledge of the insurance industry which means they know which insurers to approach and what questions to ask. They also gather information from you before obtaining quotes so they can find a policy that best suits your situation, rather than you having to search through numerous policies yourself. If you would like to get some new quotes or have any questions about your existing policies, have a chat to your broker.
Elliott Insurance Brokers are the fastest growing brokers in Australia and have access to Australia’s top insurers. We offer a number of products including Tradesman Insurance, Home and Contents, Car Insurance, Travel Insurance, Business Insurance, and Liability Insurance. We also have a number of specialist divisions for specific areas.
For any insurance related questions or to obtain a quote, contact Elliott Insurance Brokers on 1300 635 315 today and our staff would be happy to help.
