When buying any sort of insurance, clients are advised to obtain several quotes from different companies. You should get at least three quotes regarding the charges or the cost of premium besides other factors.
Insurance companies and their agents have perfected different techniques to entrap clients who are looking for the cheapest premiums offered in the market. The most effective tool these companies or agents adopt is mentioning the premium in such a way that the main cost of the premium appears to be very low while the insurance has other hidden charges. They seem cheap but they are really no different than the usual plans. Another way of hoodwinking clients is to quote the lowest premium without ever having any intention to pay the claim if and when the need arises. If a client buys insurance with a very low cost premium but is never paid, the entire premium paid is lost. When you compare premiums and selecting the lowest, keep the reputation of the company in mind.
Safe and Reasonable
You need not necessarily opt for the lowest, but for the safest and the most reasonable premium. By adopting this method a client will always be on the safe side, even if initially it appears to have a slightly higher premium. The best thing to do is compare a few ‘good’ companies (with impeccable reputations) even if the lowest premium among them is higher than that of a cheap but lesser quality insurance company. Clients must also bear in mind that good, reputable companies never compromise on the premiums. They might offer other incentives such as gifts, prize schemes, etc. to their clients, but they do not cut their premiums.