Unfortunately, accidents do happen and property damage does occur, many times through no fault of your own. And when you need to call your insurance carrier to help pay for unexpected losses, you’ll want to know that they’re able and willing to help.

Many people mistakenly perceive all insurance carriers as being equal, and they just search out the lowest price for a minimal amount of coverage. After all, they really don’t expect to use the coverage anyway – what are the chances that something will happen?

When considering insurance carriers, do some homework:

• Make sure the company is financially sound, with conservative investments and adequate capitalization. Consider how long the company has been in business and the stability of its management. The easiest way to evaluate an insurance carrier’s financial stability? Obtain the rating report of a respected rating service, such as the A. M. Best Company, the premier financial rating service provider to the insurance industry.

• Make sure the insurance company offers products tailored to your needs. Many companies will try to be “all things to all people,” when in fact they fail to meet the individual needs of their customers. Your carrier should provide comprehensive coverage at a fair price. Just as with other types of products, you get what you pay for, and you should be aware that the lowest price may not be the best value.