You may already have heard the news. Allstate Insurance is terminating about 20% of their agency force.
News such as this causes consumers to shop their insurance. (When AIG took bailout $$, many consumers made a change) There is a fear of the unknown. Who should they call? Will their new agent be responsive? What if they need to make changes before they have been transferred?
When shopping for insurance, price should not be the main consideration. Yes, I know you’re shaking your head. Many consumers look at the bottom line, and want a low price on their auto, home, renters, condo, boat, etc policy. But, what is your cost when you have a claim?
If you choose higher deductibles to save $50 and then have a claim a week later with a deductible $500 higher, did you save any money? Of course not. If you decline physical damage coverage on your truck and an uninsured motorist hits you, you pay for the cost of repairs.
When shopping for insurance, be prepared to give information about your home/auto/motorcycle, etc. to the agent and or call center. They will ask about your driving record, coverages needed, mortgage and lienholder info, etc.
