Whether its car, home, health or life, everyone will at some point need insurance. With that in mind, Bankrate sat down with some of the top experts in the insurance field to get their thoughts on the industry and what consumers need to know.
Madelyn Flannagan, Vice President of Educational Research and Agent Development, Independent Insurance Agents and Brokers of America:
There are certain things that you can do to decrease your auto insurance premium. You can take a defensive driving course. If you're required to wear glasses make sure that you're doing that. If you need a medical checkup, if you're over age sixty-five, go get your medical checkup and give a copy of that to your insurance company. Those are all things that can help you save money on your auto insurance policy.
Jim Whittle, Chief Claims Counsel, American Insurance Association:
Again, agents and insurers. They are the primary way of getting information you need to determine whether or not you are entitled to some discounts. Safe driver discounts, good student discounts. There is a whole array of discounts that may be available. So ask if there is something peculiar about you that is a good thing you may want to say is there a discount for that.
Madelyn Flannagan, Vice President of Educational Research and Agent Development, Independent Insurance Agents and Brokers of America:
I always recommend that you take a look at your policy every year, talk to your agent, go over your coverages, and make sure that you're getting the service and the coverage that you need. But also understand that there are a lot of companies today that will pay you sort of a discount for staying with them. So you might get a longevity discount and you might get a claim forgiven meaning you won't be charged for a claim if you've been with the company for a long time. So always think about staying with your carrier but also do what's best for you.
To learn more or shop around for the best insurance rates, visit the insurance section at Bankrate.com.