Till now, most people bought insurance through an agent, or called the toll-free number of the insurance company to get a quote.
However, with the increasing usage of the Internet, getting insurance quotes online is fast becoming the norm rather than the exception. There are plenty of sites out there that offer to provide you an insurance quote. Many even provide you the ability to get insurance quotes from multiple companies, and compare them to get the best deal.
However, there are relatively few sites that offer practical insights on getting a good deal on your insurance needs. There are even fewer that offer advice on what to look for when getting an insurance quote, the list of insurance agents in your locality, and what are the pros and cons of going with the company offering to insure you for the lowest premium.
They offer advice on many different types of insurance like auto insurance (including car insurance), life insurance, home insurance (including flood insurance, earthquake insurance and mobile home insurance), health insurance, renters insurance, and disability insurance.
Insurance is a contract between the policyholder and the insurance company wherein the insurance company is bound to compensate the policyholder on occurrence of certain pre-specified ‘event(s)’.The events that are covered and the extent of coverage for each event are defined in the contract.
Thus, there are three parties to any insurance contract – the policyholder, the insured, and the insurance company. In most cases, the insured and the policyholder are the same. The event(s) covered by the insurance contract will largely define what kind of insurance it is. Thus there is life insurance, health insurance, accidental death and disability insurance, home insurance (which may or may not include flood insurance, earthquake insurance, and mobile home insurance), auto insurance (which includes car insurance) and renters insurance. There would be several other products in the commercial lines of insurance.
