Some Policyholders Abandoning Policies

The current bailouts of AIG and other well known insurance carriers like Prudential and The Hartford has led to an increase in competition among carriers scrambling to keep their policyholders.

Insurance policyholders reportedly fear that their insurance companies may be unable to pay a claim. This is reportedly a very real fear since many insurance companies backed subprime mortgage investments with funds from their customers’ insurance premiums.

InsuranceBureau.com has the latest financial ratings of various insurance companies. It could be that an insurance policy carrier is relatively stable, and a move may not be necessary. At times a move to another financially stable company could actually yield savings over an individual’s current carrier. Consumers should be vigilant about assessing their carrier’s financial solvency and comparing insurance quotes to make sure they are getting a fair rate.

Insurance quotes can fluctuate in price due to variations in an insurance company’s underwriting criteria, profits or losses of the previous year. The key to saving money on insurance quotes is to regularly compare insurance quotes from different carriers. Web site visitors can use InsuranceBureau.com to compare insurance quotes.