When you’re looking to buy an insurance plan, you’ve got to consider more than just the price. While the cost of the policy is important, the coverage of the plan can make a big difference to your claim payouts. That said, there’s no reason to unnecessarily overpay for an insurance plan. Here, we’ve got 5 tips to help you get the best insurance quotes, without having to compromise on coverage.

Do Your Research

To start off, think about what type of plan you need. Based on whether you are an individual or an entrepreneur, you’ll need to look into getting insurance that suits your current needs. For instance, if you are a business owner, you may want to get a key person life insurance plan, but if you work for an organization, you can get a regular term or permanent life insurance plan. Read up on different types and insurance plans, so you are able to make a well-informed decision. If you’re still feeling a little lost, you can consult an insurance agent.

Shop Around

To get an insurance plan at an affordable rate, it’s important that you shop around. Compare the prices charged for plans with similar coverage, and you’ll get an idea of how much you can expect to pay. There are a number of insurance aggregator websites that can help you do this comparison easily.

Inquire About Discounts

Before you sign up for any plan, make sure to ask the insurance company if you are eligible for any discounts. If you are, you could receive a significant reduction on the premium. If you are shopping for an insurance plan, check if there’s any information available on the insurer’s website regarding the discounts. If you don’t find any details, call the customer service number to inquire.

Improve Your Risk Profile

If the insurance company considers you a risk to insure, they will charge you more. So, you may want to do things to improve your risk profile. This may include installing safety devices in your home or car, working on bringing your credit score up, taking a defensive driving course, etc.