Buying Insurance
Make sure you know what your policy doesn’t cover. Ask questions until you understand any exclusions.
If you are comparing prices between companies, make sure it is for the same level and kind of insurance.
An insurance company that has much lower prices may not want to pay if you make a claim.
Be careful to tell the truth on your insurance application.
If you don’t tell the insurer something important, you may pay your premiums and not be paid when you make a claim.
For example, you can’t say you are a non-smoker if you smoke a few cigarettes every month.
Changing Insurance Companies
If you cancel your policy before it comes up for renewal, you may pay a penalty.
If you want to cancel your policy or change companies, tell your insurer in writing.
Don’t stop paying your premium until you tell the company, or you will be charged a higher rate because you are a ‘bad risk.’
If you are changing companies, make sure your new policy is issued before you cancel your old policy.
