Tips on finding a cheap insurance company Insurance is a mechanism of risk transfer from one party to another.It does not completely eliminates the risk but it diversifies the risk and helps to reduce its spill over effect .To get ourselves insured we need an insurance plan.There are lot of insurance companies in the market which provide a variety of attractive insurance plans for different market segments.Since insurance is very beneficial to us and we should possess it in order to keep ourselves safe and protected but the bottom line is that insurance does not come free of cost.We have to pay a premium to purchase the insurance plan and it is an expense for us. We should always aim at taking a insurance plan from a cheap insurance company but the question to be asked is how can we find a cheap insurance company? Here are some solutions and tips for finding such insurance company. 1. We can compare the premium amount,maturity period,insurance cover,payment of amount to the insured on maturity etc. and compare it with different plans of different company and choose the best one. 2. There is lot of information available over the internet about various companies and their insurance plans. 3. We can go for customer testimonials i.e. the current and the past customers of various insurance companies and get their valuable feedback regarding the quality of service. 4. We can use online surveys related to market research of various insurance plans of various companies available over the internet to make a right decision in selecting an insurance comnpany. 5. We should also look for the amount of NCB(No claim bonus) that is refunded by the company to the insured in case of no claims regarding the damage. 6. We can use the valuable feedback of Insurance rating agency regarding the market rating of its products.
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