The Most Important Items To Identify When Shopping For A New Insurance Policy In Elyria OH

Every time a person turns on their radio or television, there is an ad for an insurance company that claims they will save individuals money when compared to any current coverage they may have. While it sounds like a good option on the surface, it is imperative to research the policies to ensure that the lower price doesn’t come at a high cost in the future. The following are the most critical elements to research when shopping for a new Insurance Policy in Elyria OH.

Out of Pocket Deductible Amounts

The deductible amount listed on an insurance policy is the total amount of money the insured has to pay out of pocket in the event of a claim. If an insurance company advertises that the coverage offered will lower the monthly rate a person typically pays, it may be due to an increased deductible. While it seems appealing to save money by raising a deductible amount, it may lead to financial difficulties in the future if a claim is filed.

Policy Limits

Another area that should be researched is the presence of any policy limits. Be sure to review any individual claim limits, which cap out the maximum amount of money paid per incident, and those that cap the maximum amount of money that is paid out over the life of a policy. While they are usually large numbers, it is imperative to know what they are so that any future issues will not come as a huge surprise.

Monthly Premium Amounts

It is common for an insurance company to sell coverage based on a monthly premium amount, which is how the majority of consumers pay for their policy. It some cases this number may be more expensive, so be sure to compare it to an existing Insurance Policy in Elyria OH. The best way to determine if a policy is genuinely cheaper is to examine the total of the annual policy cost, as any fees related to monthly payment processing will not be included.

With a little research, it is possible to determine if changing insurance companies will save money in the long run. The agents at Schlather Insurance offer customized quotes and will walk through a policy declaration with a client to help them make an informed decision. Visit to learn more and schedule an appointment to get a no-obligation quote.

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    Author: Ally Allshouse

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