Insurance is one of your household's largest expenses. Many people save hundreds every year by comparison shopping for insurance coverage online.

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There are four main considerations you need to take into account when picking your insurance company. All are important:

1. Price.
   Many companies sell insurance policies and prices vary greatly from one to another, so it really pays to shop around. Get at least three price quotes from companies, agents and from the Internet. Your state insurance department may publish a guide that shows what insurers charge for different policies in various parts of your state.
2. Insurer stability.
   Make sure that the company you buy from is financially stable so you know they will be around to pay any claims.
   
   The following companies rate insurance company strength:
• A.M. Best Company, Inc.
  Ambest Rd.
  Oldwick, NJ 08858
  908-439-2200
  http://www.ambest.com
• Fitch Ibca Inc.
  1 State Street
  New York, NY 10004
  212-687-1507
  http://www.fitchibca.com
• Moody’s Investor Services
  99 Church Street
  New York, NY 10007
  212-553-0300
  http://www.moodys.com
• Standard & Poor’s Insurance Ratings Services
  55 Water Street
  New York, NY 10004
  212-438-2000
  http://www.standardandpoor.com
• Weiss Research
  4176 Burns Road
  Palm Beach Gardens, FL 33410
  800-289-9222
  http://www.weissratings.com

3. Service.
   Your insurance company and its representatives should answer your questions and handle your claims fairly, efficiently and quickly. You can get a feel for this by talking to other customers who have used a particular company or agent. You can also check with your state insurance department to see if it makes public a complaint ratio, which compares the number of valid complaints with the company's share of policies in your state.
4. Comfort.
   You should feel comfortable with your insurance purchase, whether you buy it from a local agent, directly from the company over the phone, or over the Internet. Make sure that the agent or company will be easy to reach if you have a question or need to file a claim.

Source: Insurance Information Institute, Inc. www.iii.org


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