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Cheap insurance - is it better?

T

Tera

New member
I am debating on switching my home and auto insurance to another provider which will save me a decent amount of money but from what I was reading online, cheap insurance isn't always a better option. A lot of people say they miss a lot of coverage just to save a small percentage.

Anyone have a cheaper insurance provider?
 
As long as the insurer has a AA or AAA rating you know they can stand by their policies. Other than that, compare what the policy actually offers compared to the biger companies. I'd also check online to see how people rate them.
 
You have to watch out for "fine print". A lot of these cheaper options are cheap for a reason. They don't cover much of anything if you ask me.
 
Just go based on the rating like mentioned above and also look into their years of experience. Like when the company was established. Don't go with any that are still new.
 
Starting Out said:
As long as the insurer has a AA or AAA rating you know they can stand by their policies. Other than that, compare what the policy actually offers compared to the biger companies. I'd also check online to see how people rate them.
Click to expand...

Good point. How much can we trust these ratings though. I know the BBB ratings don't mean much these days as people can be paid to say otherwise. They have been known to take bribes.
 
I had cheap insurance on my car and when I got into an accident that wasn't my fault, I got punished. I ended up only getting some damages covered and my car was not drivable without putting another 2 grand into it.
 
Make sure they're fully regulated. Cheap is not always best.

Try to speak to someone about the cover you need.

Try to envisage what you would do if you had an accident and couldn't use your car.

It depends how old your car is or if you need it for work.

It's yours to protect but premiums put people off getting the right cover so they cut corners.

Breakdown cover and uninsured loss cover is worth it.
 
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