Insurance Basics

The purpose for having insurance is to protect the things that are most valuable to you, things that could cause you financial hardship to repair or replace in the case of an accident or theft.

Types of Insurance

RateGenius specializes primarily in personal insurance, including Auto Insurance, Homeowners Insurance, Renters Insurance, Motorcycle Insurance, Boat Insurance and RV Insurance. We also occasionally assist customers with Commercial Auto Insurance for small to medium size businesses or organizations.

What things do I need to insure?

It's wise to insure the things that will cost you the most to replace or repair if they're damaged or lost by an accident or from theft, such as your car or your home. You may also be required by state law or your lending institution to insure your home or vehicle in order to acquire a loan to purchase these items. If you do not own your own home, renters insurance protects the things you own within your home.

What coverage options are adequate for my needs?

It's important to review your insurance policies to ensure they sufficiently cover you, but also make sure that you're not paying for extraneous coverage that no longer applies to your situation. For instance, you may consider increasing the replacement cost coverage on your homeowners insurance as the value of your home appreciates. Or you may consider removing collision insurance from your auto insurance policy, if the cost of this portion of your insurance policy is costing you more than the value of your vehicle.

Do I qualify for any insurance discounts?

It's important to make sure you receive all insurance discounts that apply to your situation. By applying all eligible discounts, you may see significant savings in addition to any rate savings with a particular insurance provider. Here's a list of the potential discounts available through the RateGenius Insurance underwriters.

Other ways to save

Here are some practical ways to make certain you're receiving the best insurance rates possible.

• Check your coverage annually - your insurance policies should reflect the value of your home, vehicle and belongings.
• Make electronic payments - many insurance companies offer lower pricing by paying electronically.
• Buy all insurance policies through the same company - various insurance providers offer significant multiline discounts.
• Improve your security and safety - by adding an alarm system, smoke detectors and dead bolt locks you may receive additional savings through your insurance provider.
• Raise your deductible - if you can afford to pay a higher deductible in the off chance something should happen, you could see a significant decrease in your monthly insurance premium.
• Insure your home, not the land - your actual home is what's at risk of fire or weather damage, not the ground that it resides on. Therefore, you don't need to include the value of the land when deciding the coverage level to rebuild your home.
• Company loyalty - many insurance providers reward their policy holders with added discounts for keeping their business with the same company for multiple years.
• Maintain good credit history - most insurance companies use your credit standing as a factor in determining your level of insurance "risk". Be sure your credit is in favorable standing when applying for insurance coverage.

Industry Sites

If you would like more information about a specific insurance company or product, you may find these insurance sites helpful.

A.M. Best http://www.ambest.com/

A.M. Best is a worldwide insurance-rating and information agency, providing assessments of the financial strength and creditworthiness of various insurance entities.

National Association of Insurance Commissioners http://www.naic.org/state_web_map.htm

The NAIC provides a nationwide map linking to the various state insurance departments throughout the US. State insurance departments are the best resources for company and agent licensing information.

The Better Business Bureau www.bbb.org/us/

RateGenius maintians the highest BBB rating offered.

Individual Company Websites

Here is a listing of all the corporate sites for each of the RateGenius Insurance Agency underwriters.

• Safeco www.safeco.com
• LIrogressive www.progressive.com
• The Hartford www.thehartford.com
• Travelers www.travelers.com
• Encompass http://www.encompassinsurance.com
• Infinity http://www.infinityauto.com/index.jsp

RateGenius Insurance Products

Auto Insurance	Homeowners Insurance
Motorcycle Insurance	Truck Insurance
Renters Insurance	Commercial Insurance
Boat Insurance	RV Insurance