How to be a Good Policyholder


Insurance companies of all descriptions are powerful organizations. You only need to consider their end-of-year profit results, or the regular inclusion of insurance company founders in rich lists to see this.

Not only do these companies make a significant amount of money, in some cases, but they also provide a compulsory service, such as auto insurance. This enables them to wield a certain amount of power, which makes them seem important.

Maybe it is this appearance of importance and their size which guides people’s actions when it comes to their dealings with insurance companies. Though, for the most part, insured’s interactions with their insurance companies will be unremarkable and as you would expect, this is not always the case. For example, there are some people who are so fearful of their insurance premiums being raised, that they will avoid making a claim at all costs. Even if they are legitimately entitled to make a claim through their perfectly valid insurance policy, they will not do so.

In contrast, there are people at the exact opposite end of the scale who consider insurance companies to be rich, faceless entities that can cope with losing a little money. To this end, they will attempt to de-fraud insurance companies by claiming for a loss that never occurred, for example, or exaggerating real claims.

There is no need to go to extremes when it comes to interacting with insurance companies. By following the tips in this blog, you will find that insurance is nothing to worry about. Regardless of the type of insurance that you are seeking, you will find it quite simple to get the best possible coverage.

Buying a Property

How to be a good policy holder

Buying a home will probably be the biggest investment you will ever make, so the desire to want to protect it properly makes good sense.

When it comes to your home, protection comes in several different forms, such as maintaining it well, securing it against intruders, and insuring it against damage by accidents. All of these will come into play when it comes to the extent of the risk that you present to an insurance company when seeking a quote.

In order to demonstrate to providers that you are worthy of a homeowner’s insurance policy from them at a reasonable premium, there are a few simple steps that you can take to show yourself at your best.

Most homeowner’s insurance policies will require the structure of the building to be in a good state of repair at the inception of the policy, which will need to continue throughout the period of insurance. Even seemingly inconsequential chores, such as cleaning out the gutters, must be undertaken regularly when necessary to avoid causing damage to the home. Ensure that any necessary repairs are completed to a high standard within a short time of them arising.

If you undertake any refurbishment or changes to your home that are relevant to your insurance provider, make sure you inform them of it. Not only will this usually be a requirement under the terms of the policy, but it may also have a bearing on whether the limit of your policy is sufficient.

This need to inform of any changes also applies in other circumstances, such as if you decide to get a pet. While a dog can be a wonderful addition to a family, one that takes a dislike to postal workers can result in the owner being liable for a bite. 

In addition to having suitable locks on all the doors of your property, you should also install locks on the windows to make your home a more attractive prospect for insurers. An alarm and other security features will also do no harm when presenting a proposal to an insurance provider.

Renting a Home

Even though you rent a property, it does not mean that you do not have a property to protect. Though the landlord will be required to ensure the building itself, they do not have any responsibility to ensure the property within the building that belongs to you. Accordingly, should the home be destroyed by a fire, the landlord may be required to provide you with temporary housing, but not to replace your property.

When seeking renter’s insurance, ensure that you include all your property and that you estimate their values accurately. It is easy to forget certain items that would not automatically come to mind, such as artwork or bicycles, but they can still be damaged or stolen.

If you genuinely don’t know the value of any of your items and you are unable to get an appraisal, overestimate rather than underestimate to ensure that the policy limit is sufficient.

Make sure the inception date of your policy coincides with the start date of your lease. There will be no use in seeking a policy after an insured risk has already occurred.

Driving a Car

Your vehicle. Whether you only rely on it to get you to and from work and anywhere else you need to go, or you’ve lovingly tricked it out with the latest rims and the most powerful stereo you can afford, you need to look after it. Whether the inability to use your car for any reason causes hardship, heartbreak, or both, you will need to take steps to prevent this from occurring.

One of the best ways to keep your car secure is not to leave your keys in the car. If your immediate response is an “er, duh!” well done – gold star for you. This is a tip directed at those who think nothing of leaving their keys in the car. Though it may be convenient to know that your keys are right there waiting for you in the visor, it’s equally convenient for a car thief. In addition, failing to keep your car keys secure may invalidate your vehicle insurance, so – to repeat – do not leave your keys in the car!  

Besides this, other security methods should be used to keep your car secure, such as a steering wheel lock and/or alarm. If you have access to a garage, use it for the purposes of storing your car rather than storing all your junk and parking in the driveway or street.

Unfortunately, accidents can happen to even the most careful of drivers as they cannot predict the actions of other drivers. The key is to know what to do if one should happen, which can make the resulting process less problematic.

If you have an accident, make sure that you contact the police to report it even if there are no serious injuries. Do not leave the scene as this can result in a citation. As much as car insurance in Massachusetts is compulsory, this does not mean that there are no uninsured drivers on the road. By contacting the police, you will have proof of the incident should the other driver deny all knowledge. If you are able, take pictures of the damage to the vehicle and the accident scene and contact your insurance company as soon as possible.

In order to keep your premium as low as possible, maintain as high a deductible as you can manage yourself. If your car suffers damage that costs less than the amount of your deductible, you should still advise your insurance company so that they are aware of it and in case they have any contact from the other driver’s provider.

If you rate your driving skills, prove it by undertaking an advanced driving course. This can demonstrate the extent of your ability on the road to the insurance company, which may be considered favorably when your premium is being calculated.

Running a Business

If you run a business that sells physical products, avoid storing an excessive volume of stock on the premises if it is unnecessary; this can attract burglars and will also create a bigger loss in the event of a flood or fire, for example.

Businesses that do not make use of a safe must undertake banking on a daily basis to avoid leaving cash on the premises, which will make commercial insurance easier to obtain.

Shutters and security cameras are great options to keep commercial premises secure, deter criminals, and provide an option in the event of a crime occurring.  

Really, there is no need to panic when it comes to insurance companies, you only need to operate on a common-sense basis and be a little in the know. If in doubt, check your policy documents and inform your insurer of any changes. Even though you may not have any expertise when it comes to insurance, you don’t have any when you have Econosurance in your corner! We’re ready to assist you with your insurance needs, allowing you to relax.

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