All Insurance Policies are NOT Created Equally


Many people think it doesn't matter what insurance policy you buy because "they are all the same."  In fact, nothing could be further from the truth.  I actually partially blame the insurance carriers themselves for giving the public the impression that the only thing that matters when purchasing insurance is price, after all, every commercial on television about insurance is talking mostly about price and saving the consumer money.

While saving money is great, and Insurance Professionals of Arizona does save our clients money, it should be far from the only factor you consider when purchasing insurance.  I'm not sure who spoke these words but they ring true with me, "Price is only an issue in the absence of value."

Most of us want to get the best "bang" for our "buck."  If this were not so, we would all drive the lowest priced car without consideration for anything else; we would simply buy it, because it was the cheapest.  Now I know that some people buy insurance because they are required too and for no other reason; for these, the cheapest thing they can find might be satisfactory.  For those who buy insurance for protection of their assets and the things they have worked hard for, price should only be one consideration.  What other values should be considered.  Some of them are: customer service, company, claims paying history/ability, and coverage.  In my opinion coverage should be weighted as heavily if not more heavily than price.

Let me give you an example regarding auto insurance.  Many auto policies extend coverage to "substitute" transportation.  For instance, your car is in the shop and so you ask to borrow your friends car to run an errand.  Your friend is more than happy to lend you their car, but you forget to ask your friend about if they have insurance and what coverage's they have.  Your driving down the road and look down for just a second and look up just in time to find yourself rear-ending the guy in front of you who just slammed on his breaks to avoid hitting a dog running across the road.  Later, you find out your friend had accidentally forgot to pay his bill and had no insurance on his vehicle at the time you were driving it.  The driver of the other car sues you and your friend.  With a good auto policy, your auto policy would extend coverage to you and your friends car at the same level as the broadest level of coverage you have on any car on your auto policy.  Pretty cool isn't it.  However, some cut rate companies, don't offer this extension of coverage...their policies read, that they only offer coverage for the auto's described in the declarations page of your policy.  Their policies would not cover you in this scenario.  We have all borrowed a car before and probably will again some time.  Wouldn't you feel better knowing you had coverage extending from your own policy.

Another example regarding home insurance.  Your go on vacation for a few days. While you are away, the upstairs toilet leaks.  The water seeps through the ceiling and down onto your new $3000 flat screen TV destroying it; it also hits your $1500 computer ruining it as well.  You come home to find the mess and damages to the home and personal property totaling $10,000.  If your policy is not a good policy, it will not cover the water damage to your personal property.  It most likely will cover the damage to the home itself, the drywall, carpet etc., but the $4500 damage to your computer and flat screen would not be covered.

The problem is, people don't think about all the things that could happen until it happens and then they need their insurance to protect them.  What if the protection you think you have isn't there?  Insurance Professionals of Arizona will review your policy with you and make recommendations for you to consider. We will shop your home and auto insurance and find you the best coverage for the best price.  Call 480-981-6338 or visit us online.