When consumers purchase goods and services, they want quality. This is why advertisers place commercials and ads highlighting these traits such as – “FORD TOUGH”, CHEVY TRUCK STRONG”, “AJAX STRONGER THAN DIRT”, heck even toilet paper like CHARMIN touts STRONGER BETTER. When people buy they want it to work and last.
Except when they buy insurance. They think all insurance companies and policies are the same. So they get lured into the “cheap.” Just what you want to buy, insurance from a company who may not be able to pay your claim.
I recently ran into a client who said he saved a ton of money on his auto coverage. A big strong contractor, who had big strong trucks, and he bought insurance from a company A.M. Best (the rating company) gave a C rating which is “weak”. With a rating that low, they are lucky to last a month, and who knows if they are still around when you have a claim. There are even some insurance companies that have less revenues than independent insurance agencies, how secure does that make you feel?
Insurance is there to protect you in your times of need. It is best to pick a company who is going to fulfill that prophecy. We at Beacon Insurance Group, your local independent insurance agency and broker, can give you the analysis to help you make the right choice.