6 Things You Must Check Out Before Choosing An Insurance Company

6 Things That Should Determine Your Choice Of An Insurance Company
Looking for life and health insurance can be an overwhelming experience.
Especially if you don’t exactly know what to look for or what you should expect from your insurance company. But insurance is something that every person, at some point or another, comes across and needs to decide on.

So, to help those who are in the processes of shopping for insurance, here are a few things to consider about your top few insurance company contenders. 

- Ratings

The ratings of insurance companies are based on a variety of factors, such as policies, conditions, insurance rates, customer service, quality of products and, most importantly, the rating of their financial strength. 
Comparing various plans of different companies to get a good idea of what is and is not okay is very important. Because it takes into account a variety of aspects. The ratings are a great indicator of whether an insurance company can accommodate you or not. But it’s also not the only indicator you should consider.   

- Reviews 

Ratings are one thing, but reviews can be another deciding factor. Real people, giving real testimonies of their personal experiences with an insurance company can also influence how you perceive the company. Finding people who are in a similar economic, health and demographic status as you are will give you a good idea of how you can expect to be treated and covered should you choose to buy insurance with the same company. 

Just remember, there will likely be negative reviews everywhere you go, but you need to (for yourself) weigh up the good and bad reviews and decide if it’s still a company that’s able to offer you what it is you need. 

- Customer service 

From those reviews, you’ll get a basic idea of how well people and their issues are handled by the company. But you do need to develop your own sense of customer service quality, and of the insurance company, through your own personal experiences. 

You will, no doubt, be in contact with the insurance companies you’re considering before you decide on which one you want to go with. During these encounters, you can analyse their communication manner over the phone, overall language use, their general attitude to be assisting you, how timely they are to respond to your enquiries over email, consistency in service throughout the different departments and how they make you feel. 

You need to leave a meeting with them and feel valued and catered for. You need to feel like your concerns have been understood and considered when they get back to you. You are likely going to be doing business with them for a long time (that’s the idea, anyway), so it’s important that you’re happy with their customer service quality.  

- Affordability 

When looking for an insurance company, you’re going to want to find one with the best ratings, good reviews, great customer service and one that you can afford. And it is possible to find an insurance company with all of the above. 

Life and health insurance is something you, generally, end up paying for the rest of your life, so you need to know you can both afford it and have it be enough for you and those you leave behind. It’s all about gathering quotes for the insurance and policies you’re looking for and corresponding those figures with what you can afford to spend on the amount of insurance you need. 

- Convenience 

Finding an insurance company is stressful enough, but having to buy insurance is even more so. Ideally, it shouldn’t be either and any great insurance company should make the process an easier one for you. 

You can be happy with what the insurer is saying, what the price of your premiums are and how you’re treated, but the process of being insured can still be an inconvenient one. Consider whether the insurance company you’re interested in has any processes in place that will make your insured journey with them a happy and hassle-free one. 

For instance, do they have online features that allow you to enquire, buy, pay and claim insurance matters online? It’s definitely something to consider. 

- Values and mission statement

Because you find many insurance companies that can suit your pocket and needs, there has to be another deciding factor to influence your final decision. And for that, you can look to their values and mission statement as an insurance company. 

Knowing that the company you are insured with has values in line with your own and a mission statement that serves you, as the customer, will give you peace about your premiums and decision to buy insurance. The African Unity Life company bio, for example, says “Our philosophy of creating mutually beneficial partnerships is more than a mere thought – it is what drives us. We know that our wellbeing depends on the wellbeing of our clients and partners.”

A statement like that evokes confidence in the insurance company. Especially when you can take their values and mission statements and align them with current client testimonials and reviews.
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