To determine a company's willingness to pay claims, ask a policyholder who has filed several claims. Another good source of information is your state insurance department, which can tell you the percentage of an insurer's claims that are administered without complaints. Obviously, the more claims an insurer has handled with no complaints, the more likely that the company will provide you with good service. To determine an insurer's financial solvency, ask an agent for a rating. Get ratings on insurers from each firm and compare them.
Most people can save premium dollars by taking higher deductibles.
The higher your deductible, the lower your premium. Another way to save money on insurance is to avoid buying coverage you don't need. Life insurance policies, for example, protect families against lost income due to the death of a breadwinner. If you have no dependents and there is no one who will suffer financially from your death, you may not need a life insurance policy. On the other hand, you should consider a personal umbrella policy, which provides an extremely inexpensive way to extend the liability coverage you already have through policies such as homeowners and automobile insurance.