The Cheapest Quote Will Cost You More

Everybody likes saving money. We get it — we check all of our own carriers every year to make sure we're getting the best deal on our own policies. But when it comes to insurance, the cheapest quote almost always costs more in the long run.

Here's what we mean:

A couple in Randolph County came to us after a single-vehicle accident. Hit a patch of ice on Route 33, slid into a guardrail. Nobody hurt, but the front end was done. They had the cheapest auto policy they could find. No rental car coverage. Their car sat in the shop for two weeks while they figured out rides to work. That "savings" of $30 a month? Gone in three days of borrowing rides and missing shifts.

We've seen it with homeowners too. Someone saves a few hundred a year by going with the bare-bones policy, then their furnace shorts out mid-January. The whole system needs replaced — $11,000. They didn't have equipment breakdown coverage, so their homeowners policy wouldn't touch it. A couple extra dollars a month would have covered the entire loss.

It's not magic. There are only a few ways to lower a premium:

• Raise the deductible
• Lower the coverage limits
• Remove optional coverages
• Use a company with a reputation for fighting claims

None of those are free. You're just paying later instead of now.

When you're looking at quotes, don't just compare the bottom line. Ask:

• What are my liability limits?
• Do I have replacement cost or actual cash value?
• What's my deductible — and could I actually pay it tomorrow?
• What's NOT covered?

If you can't answer those questions, you don't know what you're buying.

We'll quote you multiple carriers and walk you through the differences — in plain English, not insurance jargon. Sometimes the cheapest option really is the best fit. But you should know what you're getting before you sign.

Want us to take a look at what you've got? Give us a call at our Elkins or Buckhannon office. We'll run the numbers and show you exactly what you're paying for — and what you're not.

*This is general information, not specific advice for your situation. Every policy is different.*