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Tips for Choosing the Best Insurance Company

In House Magazine
09 Aug 2019
Tips for Choosing the Best Insurance Company

Choosing an insurance company is not an easy matter. Why? Because all insurance companies offer almost the same benefits.

Then, how to choose the right insurance company for your needs?

Here are some criteria that can be your consideration, to choose the best insurance company:

1. Choose a company that has been around for a long time and has a good reputation
That doesn't mean that a newly established company can be branded as bad. However, having been around for a long time and having a good reputation, choosing a company that has been around for decades to decades makes it easier for you to analyze its track record and reputation. That way you can minimize the risk of loss.

A credible company certainly has a good reputation. Try to collect information from newspapers or digital media regarding handling customer claims. Don't hesitate to also ask friends who have already used this insurance.

2. Have RBC Above 120 Percent
Risk Based Capital (RBC) or solvency ratio shows the financial health of the insurance company. The greater the RBC ratio, the healthier the financial condition. At least, the RBC must be 120 percent.

This is important for potential customers to know. This is because prospective customers can at least estimate whether the company is indeed capable of fulfilling payment promises or claims when needed.

3. Offers Affordable Premiums
Each company offers a variety of premium prices. However, the more expensive the premium price does not necessarily guarantee the quality of the insurance program. A good company actually offers premium prices that are affordable and of good quality.

Related to this, you can compare similar products from two or three companies at once. Remember, first understand your needs so that you are not easily tempted when offered various insurance products by insurance sales and consultants.

4. Insurance Companies Have Quality Partners
The company must have many qualified health center partners. The more partners, the easier it is for customers to access the services they need. This is very crucial, especially when customers need fast medical treatment.

For vehicle insurance, the number of workshop partners is also important. That way you as a customer will feel calm when traveling. If something unexpected happens to your vehicle while you're in the middle of the road, you have lots of garage options to choose from.

5. OJK Registered Company
Make sure when buying insurance products from companies that have been registered with the OJK and are carried out by licensed sales or consultants. Don't forget to also study the terms of the insurance policy and actively ask the salesperson if there are things that are confusing.

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