Buying Insurance by just comparing premiums? You may be in for trouble.
Are you planning on buying insurance of any kind? Are you going to simply compare premiums of various companies online and then buy? You may be making a big mistake.
Insurance is important and we all know it. But what is more important is buying the right kind of insurance. So how we do it? Most of us compare various policies and with internet being omnipresent it is so much easier to do it. But what do we compare? Do we compare policy features, claim settlement ratios, riders etc? No! We compare premiums and more often than not assume that rest of the policies are the same while some offer certain features here and there, but premiums matter to us. But this is wrong. Never ever buyinsurance by merely comparing premiums and don’t blindly go for the cheapest policies.
Insurance is something that is long term and will matter when a certain unfortunate event takes place. At this time, your ‘cheapest’ policy may not give you what it promised or at times your claim may be rejected outright due to certain fine prints that you never bothered to look at since you were busy focussing only on the premium payments. You will regret your decision if you just choose policies based on its frills and especially lower premium rates.
