• Mar 24, 2017 State website guides you through insurance premiums
    Gary Sandler
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    Published 24 March 2017

    LAS CRUCES – When it comes to buying insurance, it certainly pays to shop around. Whether it’s coverage for homeowners, renters or autos, consumers who do their due diligence before choosing a company can save big bucks.

    Most home buyers and renters begin their search for insurance by obtaining a quote from the agent or company who insures their vehicles. Since they already have a relationship with their agent and can receive a discount for having more than one policy with the company, many shoppers end their search right there. But there’s a flaw in that approach.

    First of all, who’s to say that the auto insurance premium paid by the insured is the lowest available for the coverage desired? Beyond that, who’s to say that the premium for the homeowners or renters policy they intend to add, even with the discount, is offered at a competitive price? The New Mexico Office of the Superintendent of Insurance has the answer.

    Consumers who desire to compare premiums for auto, home, renters and worker’s compensation policies can do so by logging on to the OSI’s New Mexico Premium Comparison Guide portal at http://osi.state.nm.us/guides. The site provides contact information, complaint ratios, ratings, fees, discounts and surcharges for all of the major insurance companies operating in the state. The results can be shocking.

    Take, for example, the average policy premiums offered for a 10-year old, site-built frame and stucco Las Cruces area home valued at $150,000. The guide provides quotes from no fewer than 25 different insurance companies, with annual premiums ranging from a low $267 to a high of $892. I told you it was shocking.

    The guide allows users to select the common risk factors associated with the home or auto they’re thinking of insuring, such as amount of coverage, deductibles, etc., then displays the average premiums from each company. Shoppers can then compare the quotes before selecting a company.

    The site is easy to navigate and well worth exploring. After all, it’s your money, and you deserve to receive the coverage you desire at the lowest possible price.

    See you at closing!

    Gary Sandler is the owner of Gary Sandler Inc., Realtors in Las Cruces and can be reached at 575-642-2292 or Gary@GarySandler.com­

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      Gary Sandler