Some people ignore the little things when out shopping for truck insurance. Others have no systematic way of getting the best deals. The result is often getting the wrong insurance that costs too much. You pay what you shouldn’t pay for. You get the cover that you shouldn’t have in the first place. Here are the crucial steps you should take to avoid pain and regret.
Step 1: Starting out right. The main idea is to get truck insurance that is adequate. This keeps you safe from making payment from your pocket should an accident occur. Get to know how much truck insurance you really need. This varies from state to state. So take a moment to find out what it takes where you live. And then make a list of the different types of coverage you need.
Step 2: Review current policy. Take a close look at the premiums you are paying. Review the coverage of the truck and driver’s driving history. Bad driving records push up premiums. Try and get quotes when records indicate the best history. Now that you are armed with the correct information, the next step is to get the quotes.
Step 3: Get the quotes. This is where the hard work begins and most people give up at this point. If you want to save a few dollars then you will need to set a side a few minutes every day for this task. Start online with all the details of the truck and get several quotes. Pick up the phones and make calls to various agents. You need to be patient because not all enquiries online and offline will get you immediate results. Gather all the information in a span of say two weeks.
Step 4: Compare the quotes. Here you may get shocking results. You may decide to use and excel sheet and analysis annual and monthly rates for different types of coverage. Check the insurance company payment policy. The discounts offered and the company’s consumer’s complaint ratio. If you need any more information, you will have to call the company to seek clarification. By the way, it may not be possible to do all this if the current policy is fast expiring. So make sure you start this process in advance of the expiration date.
Step 5: Choosing the right company. Armed with your comparative data, arrange the list starting with the least expensive. All factors constant, you should pick the company that saves you the most. But there are other factors to consider also. For instance: reliability, company rating, customer service and sometimes your intuition. You may consider visiting your local dealership to ask for a recommendation. Or even talk to other truck owners about the experience with their insurance companies. Do comparison and go for the best deal.
Step 6: Review the policy before signing. It is important to read through the policy before you put ink to paper. Verify that you have been given what you wanted -the coverage you were seeking. Read the fine print. See if you have given up your right to sue incase of a disagreement. Some companies insist on arbitration. Check what the policy says about repairs. If need be get an interpretation of the policy before you sign up.
Step 7: Cancel the old policy. The final step is to cancel the old policy. And if your truck moves from state to state, you will need the policy in vehicle at all times. Some states require drivers to have vehicle insurance at all times. This may sounds a tedious exercise. But remember you may end up saving money and learning a lot about insurance. It is well worth it.
Kristi writes extensively on variety of topics like parties, children games, car insurance, motorcycle maintenance and even getting jobs. Read more of her articles that provide valuable resources on the subject.