One of the most overwhelming things is to purchase insurance from NY insurance agencies. Conditions, definitions, exclusions, endorsements, and coverages can give you a headache. Insurance may not be the first thing to pop on people’s minds, but imagine how your life will be without it.
Imagine losing your home or business to a fire or theft and you have no insurance to help you get everything back to track.
If you ever lose your home, car, or business, you would immediately want to know the name of your insurance company, agent, and what they can do to make your situation better.
So, clearly, it’s crucial to purchase coverage from the best NY insurance agencies. But, how do you find them?
Here are the considerations to make:
1. Insurance Company vs. Independent Agent
In New York, we have independent agents and insurance companies. The former sell their own products as well products for other companies. An independent agent’s job is to find the right insurance company that suits your needs.
An independent agent doesn’t have exclusive relationship with a single insurance company. These agents provide a wide array of products from various insurance companies. They can also guide you on difference insurance products, pricing, and coverages.
Independent agents don’t usually work for an individual insurance firm. Instead, they always work for their clients and represent them, which can make a huge difference during claim time.
Insurance companies, on the other hand, partner with independent agents before and after a policy is sold. The company:
- Reviews the coverage suggested by the independent agent and uses that information to determine premium.
- Handles all your insurance payments
- Sends you a copy of the insurance policy through mail
- Adjusts your policy according to the agent’s recommendations, or because of a particular lifestyle change, such as buying a safer vehicle.
- Provides a business with strategies for preventing losses
- Pays claims when losses occur
2. The Reputation or History of the Company
- The company’s years of experience in business
- Mission, vision, and core values
- Types of insurance products they sell
- Community involvement
- The company’s leadership
3. The Coverage of NY Insurance Agencies
4. Pricing
Pricing should not be the only factor to guide you when searching for insurance companies on Long Island or anywhere else in New York. Pricing differs among insurance companies for different reasons.
A lower price might mean getting less coverage, which means should a loss occur, you’ll have to get more from your pocket to fix it. Lower prices may also mean that the insurance provider has penetrated a new market, and so they may not have similar experience as other insurers. Be sure to talk to your insurance agent regarding the price variations.
5. Ease of Doing Business
- 24/7 customer support
- Policy changes
- Online bill pay
- Billing questions
- Social media platforms
- Online claim reporting
6. Discounts
Most insurance agencies offer discounts. When discussing about a specific coverage with your agent, find out whether there are discounts to benefit from. You can save a lot of money by purchasing a policy that has a discount.
Find out whether the carrier provides a discount is you take multiple policies. If you have your homeowner’s insurance, motorcycle insurance, life insurance, and car insurance in one place, it can save you in terms of premiums if the carrier provides such a discount.
7. Financial Strength
8. Service Model
- For instance, you should find out details about:
- How the company handles claims
- The available customer support
- Who handles the claim? Is it the company’s employee or an external claims adjuster?
9. Payment Plans
Some agencies have flexible payment plans, such as monthly, quarterly, yearly or semi-annually. Find out how the insurer accepts payments.
While some companies offer discounts for full, upfront payment, others may give a discount on automatic withdrawals.
Connect with the Right Insurance Agency in New York
Whether you are looking for a Brooklyn insurance agency or a provider anywhere in New York, you should do your homework and evaluate all the factors mentioned above.
Remember, most insurance contracts are long-term, and might span for several years. Thus, you want to ensure you are comfortable before signing any documents.
Some companies allow you to sign up directly online, but it’s good to ensure the company has an office in your city where you can walk in and ask their representative all the questions you may have.
Are you looking for reliable insurance agencies in New York or New Jersey? Pamphile Insurance Brokerage, LLC is a renowned carrier.
We provide access to a wide array of insurance products, including auto insurance, home insurance, life insurance, motorcycle insurance, flood insurance, workers’ compensation insurance, and more.
Call us today at (516) 323-8558 to discuss the right product for your needs and budget.
