What To Ask When Buying An Insurance Policy – First Time Buyers Guide

Buying an insurance policy means that you are doing your future self a huge favor, considering that they are capable of offering a big helping hand in case things go south with you in the future. 

But in order to get something that would help you out, you need to make sure that you are asking the right questions.

Don’t know which ones to ask? Don’t worry, we got you.

Below, in this blog, our insurance company Calgary downtown has listed down some of the many things that you need to ask when you’re trying to purchase an insurance policy for the first time. 

Four Questions To Ask When Buying An Insurance Policy 

Here are some of the many questions that you need to ask when you’re buying an insurance policy: 

What’s Covered By The Insurance Policy?

The first question that you need to ask is what’s covered by the insurance policy that you are trying to purchase.

This one is an important one to ask considering that you have to make sure that the policy you’re purchasing is capable of actually helping you out in case things go south in the future. 

Which Company Is The Best For My Policy? 

Having an insurance policy is not enough.

When you’re trying to purchase an insurance policy, you have to make sure that you are going with the right company, preferably someone that has a good record in the market with treating their customers right. 

How Much Would The Insurance Policy Cost? 

The third question that you need to ask is how much the insurance policy would cost you on a monthly or yearly basis.

This one is important, especially if you are following a budget. 

Try to make sure that you are going with an insurance policy that you can afford on a monthly basis for years to come. 

Are There Any Deductibles? 

Remember, deductibles are the amount that a policyholder is required to pay before the insurance company starts paying up, which means that the insurance company is liable to pay the claim amount only when it exceeds the deductible.

So before you buy a policy, make sure that you ask if there are any deductibles. 

Do you think we missed out anything important about the things that you need to ask when you’re trying to purchase an insurance policy? Let us know if we missed out anything important by leaving a comment in the comments section below!