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5 important questions when buying or renewing insurance

Part of being an educated consumer is asking questions when you make a purchase – especially if you’re spending a considerable amount of money. People often spend hours researching potential retail purchases, like smartphones and shoes, but they rush through insurance policy options.

Whether you are buying a home, auto, or life insurance policy, make sure you fully understand the coverage. If there ever comes a time when you need to make a claim, you don’t want to find out that you don’t have sufficient coverage because you didn’t fully read your policy.

Here are some questions that you may want to ask when buying insurance

1. Can I save money if I pay for my policy upfront each year?

2. What discounts are available?

3. Can I save money if I raise my deductible?

4. Does the coverage vary for different types of occurrences?

5. Does my policy include sewer back-up coverage or overland water protection?

Asking these questions will help you make an informed decision about your coverage. Insurance is an important investment and you owe it to yourself to be diligent and understand what you’re getting for your money. At OTIP, our licensed insurance brokers will work with you to understand your needs and recommend coverage that is right for you and your family.

Call us today at 1-800-267-6847 to learn more.

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