Safer with Schaeffer – 5 Mistakes to Avoid When Buying Insurance

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Safer with Schaeffer’s 5 Mistakes to Avoid When Buying Insurance

Insurance can be confusing!  Especially when it comes to the different types, amount of coverage, and affordability.  Safer with Schaeffer,  John Schaeffer, shares his top mistakes to avoid when purchasing your policy. 

• Don’t assume insurance is unattainable. 

Many Americans are still left without health insurance or other kinds of necessary insurance. Ask your agent about potential discounts that apply to you. Find a plan that suits your basic needs first, and then add any extras you may prefer.

• Don’t rely on assumptions or outdated figures.

As the economy changes, so might your insurance needs and plans. If you change jobs, don’t assume your existing policy will continue to cover your same needs. Get guidance through your insurance shopping; an agent can help provide you with current plans to suit your current needs.

• Don’t shop on price alone.

Comparing policies is difficult but don’t immediately choose the policy with the lowest premium.  For example, as a general rule for health insurance, the higher the premium, the lower amount you pay when you go to the doctor. Look at examples provided by the company if they apply to you, and see which scenario you would rather have.

• Don’t gloss over any details.

As complicated as insurance can be, it’s extremely important to read through all the details of your potential policy. Both Home and Auto polices can be lengthy and in this recent video Safer with Schaeffer explains more details of his home insurance policies.   Add on coverages might be something your agent has added for you or ignored.  Contact your agent if you have any questions about what extra add-ons may need to be purchased and what exactly will be covered.

• Don’t set your deductible too low. 

A low deductible typically means higher premiums. As an example, with property and casualty insurance, it typically means a higher likelihood of small claims. Consider your financial situation – how much risk are you willing to assume before the company covers your claim? 

When in doubt, read through the details and call your agent with questions. Insurance can be complicated, but The Resource Center can help simplify and clarify it for you.

At The Resource Center, we’re an independent insurance agency. That means we don’t work for a single insurance provider –we work for YOU! Our agents will shop your rates in the market so we can find the best deal for your budget.  For a free no obligation quote from Progressive, Travelers, Auto- Owners and Safeco click here!

 

Catch John’s show “Safer With Schaeffer” on Tuesdays at 3 pm on KOLR’s Ozarks Live. 

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