Can Filing a Claim Affect Your Rate?

Owning insurance is a beautiful thing but it is one we do not hope to ever use. As reassuring as it may seem to have a company stand by you through a damage or loss, it just isn’t something we are ready to undertake. In case of damage or a loss, the first things you will be expected to do is to report to your insurer and possibly file a claim.

The strange thing about this is that filing a claim could affect your premium rate in the future. For example, you had to repair some damages in your home and your insurer came through for you. Your insurer would somehow increase your premium depending on the type of claim or your location.

The reason for this is because insurance companies would consider you a risk once you file a claim. If the claim you filed was for a damage or loss which is common, the chances for further repairs is quite high. The company understands you may need further repairs and would inadvertently increase the premium. This in no way discourages you from filing a claim. You just have to evaluate your choices to see if it would be in your best interest to file that particular claim.

Why You Need Insurance Experts

One of the main mistakes people often make when getting insurance is assuming they know what it takes and entails. This has cost them a whole lot in the end. The painful part of it all is that you only get to know of your mistake when you need the insurance the most. For this reason, working with an insurance expert is one of the best decisions you will ever take.

Helps Understands Your Needs

This may seem a bit exaggerated, especially because we all believe no one should know our needs more than us. For this reason, we have individuals who either have to much insurance or are under insured.

Choose Cost Effective Policies

These insurance professionals are quite knowledgeable about the cost of policies. This is because they are in the industry and know what competing companies are offering. An insurance broker usually works for more than one insurance company and can tell which company is offering the best premium rates.

Provide Answers to Questions

If this is your first insurance or you are looking to buy a new insurance policy, there are several questions you would love to ask. These questions will help you get the basic idea behind the policy. There is no better person to ask than an insurance expert.

Help with Policies Annual Reviews

Many people do not realize that some policies are subject to reviews annually. Usually when the reviews favor the insurer, you can be rest assured that you will be notified. If the review will reduce your premium or offer you some form of discount, only professional insurance companies will notify you. For this reason, ti is best to always have an annual review with an insurance expert. 

Do You Really Need auto Insurance?

John was like every young man who just got married and tried to live life to the full. He had bought a Dodge Dart and loves to take the car for a spin. He has always had a thing for fast cars and the Dodge Dart just gives him just about the kind of speed he desires. Just like every weekday afternoon, he parked the car just outside his restaurant. He came out at noon only to discover his car was nowhere to be found. Obviously he was distraught but not to the extent to forget to contact the police and insurer.

In no distant time, the police arrived and he requested for the officer’s name and contact information, as well as a formal documentation of the incident. The insurer called John back and scheduled a meeting for him and an adjuster. The adjusted arrived the same day and also made analysis of the event and made his report. Since john was smart enough to collect the officer’s contact information, he handed them over to the adjuster.

John had provided credible evidence that his car was indeed stolen. The adjuster worked with the police on the possible recovery of the stolen car. Furthermore, the adjuster ensured john was kept in the loop on what was going on. After about 4 weeks, the insurance company paid for the filed claim and gave john money to buy another car.

What's All the Fuss about Buying Insurance?

This may seem like an uncalled for question but you will be amazed at the number of people who think they know what insurance is all about. The saddest part of it all is that they don't know anything about it; maybe the basics, if they are lucky. Before we delve into more complicated aspects of insurance, its best we trash out why it's important to buy insurance.

In the event of a loss or damage, an insurance policy allows you lay claim for assistance. There is no one-size-fits-all insurance as there are different types. For instance, if you have a health challenge, an insurance company will cover some cost for treatment and in keeping you healthy. Home owner's insurance will cover damages or loss sustained to your home. Car insurance will see to repairing or replacing damages to your car. All of these are done specifically on the type of insurance you've bought. All this is made possible because you pay a premium.

Insurance companies are not Charity organizations or some form of magic wand. Talk to experts on insurance, like those of the Greater National Group, and listen while they explain the coverage offered by the insurance you want to buy. Everybody should buy insurance. The type and kind you want is totally up to you but you just need to stay insured.

Insurance Company Review - GNG

One of the sadness moments of my life was when I lost my home to fire. I spent almost four years building that property and in less than two hours, it was almost reduced to nothing. At that point, I couldn't even think of anything but when I got through to the guys at Greater National Group and told them what had happened, the lady calmly told me my complaint had been lodged. For someone as devastated as I was at that time, I never would have thought GNG would be the people I'll call a friend.

Since it was caused by an electrical fault, the company took care of all the costs of repairs and replacement. Today my family and I can boldly sleep in peace under our roof just because GNG did not let us down when we needed them the most. Thank you to Rob and your team of experts! My family will forever be grateful for what you guys did.