A Look Into Insurance Companies

Sometimes you have to take a step back from making money with real estate and look at all the things that go hand in hand with owning a home.  Insurance is one of those, things, and it also pertains to vehicles as well, so it’s a topic you should learn a bit about in hopes of becoming a more well rounded, savvy investor.

In the insurance world, there are many different companies that take up the insurance space. They have so much presence that it comes down to about five companies. These companies are so big that they service millions of people and insurance policies each year. When we say insurance policies, we mean all of them.

Insurance Policies

  • Health
  • Auto
  • Life
  • Home

These are the types of insurance policies that are available by the biggest insurance companies out there today. So today, who are some of the biggest insurance companies out there that dominate the market?

  • Liberty Mutual
  • All State
  • Nationwide
  • Progressive
  • Geico
  • State Farm

These are some of the biggest insurance companies you see today. Like we said, they don’t only offer you with just auto insurance, they offer you with the best insurance polices that you need.

Oustide of these companies there are the local insurance companies out there that may be more suitable for you. So what benefits do you have when shopping around and getting insurance premiums from these companies?

When shopping around, give these insurance companies a call. They will be able to help you get some of the best insurance premiums you can get, but remember don’t be cheap, the best insurance premiums available today may not be the most attractive price but you would have to balance the two to ensure you pay the best price you can for the best coverage you can get available to you.

These companies offer you some of the prices, and customized plans. Depending on the company they have their own competitive advantage on the market that would be the most attractive option for you.

So what are they?

  • Geico has their own application that makes your experience entirely self serve and enabling you to control your own policy and structure it the way you like.
  • Progressive insurance provides you with something called the snap shot program, it tracks your driving tendencies over a few days and allows them to provide you with an accurate quote that is solely based on you driving habits
  • State farm insurance provides you with amazing customer service and local agents that can help you when you need.

These are some great incentives that are offered. To list them all and provide every detail would troublesome since we would need to know everything about your driving history and record, and what car you drive to make sure that you have an accurate insurance quote.

To some picking one of the biggest insurance companies out there may not be their first choice. Simply because they believe that the bigger insurance companies in the space often have the highest prices and aren’t willing to give them a shot. An alternative to this would be seeking your local insurance companies.

With that in mind what are the main differences between the two types of the companies?

With major companies they tend to be a bit more intimidating although overall they have a more attractive plan when compared to local insurance companies because they are able to give you better discounts towards your insurance premiums and almost always have immediate support when you make claims. When the claims have been made being with the bigger companies you wouldn’t have to wait for the insurance company to be validated, being with the bigger firms you are pretty much covered and will have your claim looked at as soon as possible.

With local insurance companies the biggest leverage they have is their impeccable customer service. Providing you with that personal experience upfront could give you the seal of approval to sign with them. If the customer service isn’t a selling point and you are seeking more, their low and attractive pricing may be something you’d definitely consider. Although since they are usually a smaller company the price they give may be final since the ability to discount their plans could be difficult.

To determine what type of company is best for you, a local insurance company or one of the major auto insurance companies you would defiantly need to do your homework. Figuring out what company aligns with your needs and what type of coverage you are getting is an asset. Finding an affordable price and the proper coverage for you and your driving habits should be the final deciding factor. Strive to get more for your money so that when you need your auto insurance, you wont regret it.

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Kirk Mullen's life goal is to travel the world while living off investments. He's currently mastering real estate investing, thanks to his never ending thirst for information online. This site is his culmination of opinions gathered on real estate investing courses, guru's, and other mentors he aspires to be like.