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| Buying Insurance on the Internet |
| 01/04/2010 |
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RESEARCH, RESEARCH, RESEARCH
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| Research is by far your
best protection. Fortunately, the Internet is also a great research agent.
Determine which insurance coverage best fits your needs, then shop around for
companies, agents, premiums and coverage. |
DOUBLE-CHECK THE COMPANY AND AGENT
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| In order to sell
insurance in your state, the company and the agent must be licensed. To confirm
the credibility of a company or agent, check with the Alabama Department of
Insurance for the following facts: |
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Is the company licensed in Alabama?
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Is the company licensed to sell the line of insurance you are interested in
purchasing?
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Is the agent licensed in Alabama and a legitimate representative of the
company?
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Does the company have a good record of handling policy complaints?
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PURCHASING ON THE INTERNET
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| Once you’ve checked
your facts and found the company, agent and policy that suit your needs, you’re
ready to purchase. At this point, security is the name of the game. Take some
extra precautions to protect your personal information: |
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Update your browser. The newer browsers are equipped with more current security
measures. One way to check if you are transmitting across a secure site is by
checking the address. A secure site address may begin with https:// instead of
the usual http://. Or, the site may have a small key or closed lock icon
located somewhere in the bottom left or right corner of the screen.
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If you cannot confirm the security of the browser, contact the company or agent
and submit your paperwork via fax or mail.
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Take extra precautions when paying with a credit card. Some credit cards may be
equipped with antitheft protections. Review your credit card agreement for
antitheft provisions.
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THE PROOF IS IN THE PAPERWORK
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| As you complete your
research and purchase, it’s important to keep detailed records. Get all rate
quotes and key information in writing for your file. Also, once you decide to
purchase online, keep a copy of all paperwork you complete and sign, as well as
any correspondence, special offers and payment receipts. Please note: You
should receive a copy — not a photocopy — of your new policy within 30 to 60
days of purchase. If you do not receive your copy, contact the insurance
company immediately. |
INSURANCE “RED FLAGS”
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| Here are some quick
“red flags” to warn you against possible insurance fraud: |
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Don’t submit to high-pressure tactics. If you are being overwhelmed with offers
from a particular group or agent that make you uncomfortable or aggravated,
trust your instincts and steer clear.
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Do your research. Scam artists may try to convince you to change coverage
quickly without giving you the opportunity to do adequate research.
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Seek advice. If a particular policy requires a large sum deposit in an account,
ask a third party — such as a reputable local insurance agent, an accountant or
financial advisor — for advice.
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If it seems too good to be true, it probably is!
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