Whether you’re looking to purchase health, auto, homeowners or life insurance, navigating the insurance marketplace for the first time can be scary and confusing. Here is some information, along with a few tips and tricks, to get you started on the right path to purchasing the right coverage for you or your family.
Insurance policies are written contacts between the insurer and the policyholder that lays out what is covered and how much.
Having insurance is important, and in some cases required by law, to carry. If you're involved in an accident or unexpected event, you may be responsible for all costs, which may extend beyond your injury-related expenses. Having the right protections in place now can help relieve headaches down the road.
Insurance can also be used to cover routine things, such as preventative wellness checks and prescription medications.
What to consider when purchasing an insurance policy
- Is your agent licensed in the state and can you trust them?
- Does the company have a good financial and consumer assistance reputation?
- What coverage does your family need?
- If applicable, is your primary care provider in-network with your policy?
Smart shopping tips for insurance
- Compare Apples to Apples. Not all policies offer the same coverage. A lower-priced policy may provide less protection, so be sure to compare coverage details, not just the cost.
- Buy from Licensed Companies. Purchasing from an unlicensed company could leave you without coverage when you need it most. Verify a company’s licensing status in North Dakota by visiting our company search.
- Choose Deductibles Wisely. Your deductible is the amount you pay before insurance covers a claim. Higher deductibles lower your premium but increase your out-of-pocket costs in a claim. Find the right balance for your budget and risk tolerance.
- Know How Much Coverage You Need. Policies only pay up to their coverage limits. Ensure you have enough insurance to replace your home, belongings, or vehicle in case of a total loss. For auto insurance, make sure your liability limits are high enough to protect you financially if you're at fault in an accident.
- Ask About Discounts. Many insurers offer discounts for bundling policies, installing security systems, having a good driving record, and more. Ask your agent about potential savings.
Getting Started
Whether you're looking for specific coverage or just exploring your options, we've got the resources to help you make an informed decision about insurance. Contact an agent (or several!) to explore options and get quotes.