Insurance is one of those things that is a pain to pay for, and a complete waste of money -until something happens.
Then you understand what you paid for all those years.
But if, god forbid, the worst does happen, you need to have ensured that your insurance policy will pay out - finding the cheapest insurance companies is easy, but finding the best policy is another matter.
Be it car insurance, health insurance, or property insurance, basically you are looking for two things - maximum coverage at the lowest price.
If you are researching cheapest insurance companies, be it on the internet or at the mall, choose 3 or 4 of the cheapest ones that seem to give the best coverage.
You then need to look at these in detail.
Cheap doesn't need to mean that you'll get poor service (and vice versa).
If an insurance company has a million policy holders at a low premium, it's better than having a hundred policy holders with a high premium, and you may even get better coverage.
When going into detail with these 3 or 4 companies, look at the following: Ask about uninsured excess, otherwise known as deductibles.
You crash your car, and have it repaired for $300 - how much of that do YOU pay? What about third party liability in your policy? In other words, what if YOU cause the damage, or hurt someone? Does your policy cover them? Read the fine print.
This is tedious, boring, time-consuming, but a life-saver.
Think you're covered if you fall down a manhole on a day that has the letter 'y' in it? Think again.
Check ratings at Standard & Poor, check online reviews.
If 10 out of 10 people warn you never to set foot through some company's door, don't.
In other words, cheap insurance companies may be the best for you, but there's no two ways about it - you need to do your homework.