Don’t Get Burned by Cheap Insurance

From shopping for insurance to everyday groceries and everything in between, it’s often tempting to purchase the cheapest option. After all, the average American spends $5,261, or 12% of their annual income, on home, health, life, and auto insurance per year according to a NerdWallet study. However, choosing the less expensive product or service often goes hand in hand with sacrificing quality. With INW Insurance Group located in Mesa, AZ, that doesn’t have to be the case. Knowing the difference between inexpensive and cheap insurance lets you shop smarter, make informed decisions, and get the quality you deserve at a price you can afford.

Cheap insurance often means settling for inadequate coverage, or worse, no coverage at all. According to the National Association of Insurance Commissioners, 144 fake insurers sold fake health insurance to more than 200,000 policyholders nationwide between 2000 and 2002, resulting in more than $252 million in unpaid claims. Unfortunately, health insurance wasn’t the only type of fraud insurance being sold. There are still numerous companies selling fake auto, homeowners, and rental insurance today.

Cheap insurance could also mean extremely limited options. Even if you have a trustworthy insurer, extremely cheap insurance often has many restrictions that prevents you from being covered in times of need. In the event of a natural disaster or tragic accident, cheap policies will not likely allow you to rebuild in the future. That’s why it’s so important to find a trusted and reliable insurance company, like INW Insurance Group, to help suit your needs.

To prevent you from being burned by cheap insurance, it’s important to research your insurer to make sure they’re the real deal and read your policy thoroughly. Start thinking about worst case scenarios, and double check that you are covered. What matters most is you know exactly what type of scenarios your policy covers—and those it doesn’t.

When you value something, it’s important to protect it. Avoid the temptations and scams of cheap insurance and let our team of agents at INW Insurance Group help you find the perfect policy that fits your lifestyle and budget today. Because as we all know, peace of mind is invaluable.

Does Renters Insurance Cover Pre-Existing Damages?

It is always wise to purchase renters insurance when you are renting an apartment, a condo, a townhome or a house. The owner’s home insurance policy will not cover any of your belongings that are damaged if something happens in the home, nor will their policy pay if you are displaced from the house either temporarily or permanently. If you are moving into a home and you see signs of water damage or other pre-existing damage, you may find yourself wondering if your renter’s insurance policy will cover this if a leak occurs or other problems arise. We are often asked this question here at INW Insurance group, serving the greater Mesa, AZ area. Here is the answer.

If there is existing damage to a rental property, you will want to ensure that that is specified with your landlord ahead of time. Most people take pictures, document it and include it in a walkthrough. If it turns out that the issue was pre-existing and was not fixed prior to you being there, your insurance will likely not cover it and their home insurance or renters insurance policy will need to cover both the damages and the damages to your property as the owner knew about it ahead of time. This is the exception to owners being responsible for tenants property, rather than the rule.

If you are moving into a new rental property or are already living in one and do not have renter’s insurance, now is the perfect time to obtain a policy. If you are in the greater Mesa, AZ, Call INW Insurance Group today to get a quote for a new renters insurance policy and fully protect yourself and your belongings.