Shopping for Insurance Resource Page

Shopping Tips | Helpinsure.com | TexasHealthOptions.com | Company and Agent Lookup | Price Comparisons | Consumer Publications | File an Insurance Complaint | Help Us Prevent Insurance Fraud

Shopping Tips

• Determine what coverages you want and need. Buy enough insurance coverage to avoid a major financial loss should something happen to you or your property, but don’t buy more coverage than you need. Certain lines of insurance offer endorsements that allow you to change or add coverage.
• Research agents and insurance companies. Consider factors other than price when selecting an agent or insurance company. Make sure your agent and company are licensed to do business in Texas. Also consider financial ratings that indicate a company’s financial strength and stability, and complaint indexes that indicate a company’s customer service record. For a company’s financial rating and complaint index, call the Texas Department of Insurance (TDI) Consumer Help Line or visit the website

  1-800-252-3439
  463-6515 in Austin
  www.tdi.state.tx.us

• Include independent agents in your search. Independent agents typically represent several insurance companies and can give you multiple quotes.
• Get several quotes and compare policies. Ask several companies and agents for price quotes and compare the rates and coverages. When comparing prices, be sure you understand the coverages each policy provides.
• Answer questions truthfully. Providing wrong information on an insurance application can result in an incorrect price quote, rejection of your application, or cancellation of your policy.
• Ask about discounts. Insurance companies often offer policy discounts that will lower your premium. Ask your agent what discounts the company offers and which ones you are eligible for.
• Consider higher deductibles. A deductible is the amount you have to pay out of pocket on your claim before the insurance company pays. The higher your deductibles, the lower your premium. Choose the highest deductibles you can afford.
• Take your time. Do not be pressured into buying a policy. Ethical agents will not pressure you into buying a policy before you are sure of what you want.
• Make sure you have uninterrupted coverage. Never cancel an existing policy until you get your new policy or a written “binder.” A binder proves you have coverage and is valid until the company issues your policy.
• Don’t give up if a company turns you down. Companies have different standards for accepting new customers. If you’re having trouble finding coverage, consider contacting the Texas FAIR Plan Association for homeowners insurance and the Texas Health Insurance Risk Pool for health insurance

FAIR Plan
1-800-979-6440
www.texasfairplan.org

Risk Pool
1-888-398-3927
1-800-735-2989 (TDD)
www.txhealthpool.com

Helpinsure.com

Helpinsure.com is a free and secure service to help Texans shop online for homeowners insurance. Agents and companies writing homeowners insurance in Texas can view your online profile and contact you to discuss your insurance needs.

1-866-695-6873
www.helpinsure.com

TexasHealthOptions.com

TexasHealthOptions.com is a one-stop resource of the state of Texas and TDI to help you find and compare health care coverage options. Consumers will also find resource information to health-related non-profit groups and state and federal agencies.

www.TexasHealthOptions.com

Company and Agent Lookup

Check agents’ and companies’ license status and buy only from licensed agents and companies. Licensed companies belong to a guaranty association that will pay your claim if your insurance company goes broke. If you buy from an unlicensed company and have a claim, it might go unpaid.

Find out whether a company or agent is licensed by calling the Consumer Help Line or by using the Agent Lookup and Company Lookup features on our website.

Price Comparisons

One way to begin shopping for and comparing insurance policies is by viewing TDI’s price comparisons. The price comparisons list annual price estimates for sample policies as well as information about a company’s complaint record and financial strength. Contact the companies directly for a more accurate rate quote tailored to your needs.

• Automobile Insurance Price Comparisons
  
• Homeowners Insurance Price Comparisons
  
• Long-Term Care Insurance Rate Guide
  
• Medicare Supplement Insurance Handbook and Rate Guide
  
• Small Employer Health Insurance Rate Guide
• Workers' Compensation Rate Guide Handbook

Consumer Publications

TDI consumer publications provide overviews of various types of insurance, including homeowners, automobile, life, health care, long-term care, and commercial property.

The following publications will help you start shopping for insurance:

• Shopping Smart
• You could save $100 in an Hour
• Insurance on the Internet - Shopping Tips and Dangers
• Automobile Insurance Made Easy
• Homeowners Insurance
• Shopping for Homeowners Insurance (with Company/Policy Comparison Worksheet)
• Your Health Care Coverage

Consumer publications are available online and in print. To order printed copies, call the 24-hour Publications Order Line

1-800-599-SHOP (7467)
305-7211 in Austin

File an Insurance Complaint

TDI accepts and reviews written complaints against insurance companies, HMOs, insurance agents, adjusters, and fully insured or fully funded health benefit plans (health plans purchased by an employer from an insurance company or HMO).

For information on filing an insurance-related complaint, visit our website or call the Consumer Help Line between 8 a.m. and 5 p.m., Central time, Monday-Friday.

Insurance Complaint Forms

• English Online Form
• En Español En linea Forma | RTF Format | PDF Format
• Easy Print Form RTF Format | PDF Format

Help Us Prevent Insurance Fraud

Insurance fraud is a crime and victimizes more than those directly affected by illegal schemes. It can also lead to increased costs for insurance companies that drive up policy rates for all consumers.

To prevent becoming a victim of fraud, follow a few tips:

• Shop around
• Get information from TDI
• Take your time shopping for insurance
• Pay by check or credit card
• Be cautious of policies sold door to door or over the phone
• Take precautions buying insurance over the Internet
• Keep copies of policies and correspondence between you and the companies you’re considering
• Remember: if it’s too good to be true, it probably is.

Insurance fraud is a crime. If you believe you’ve been a target of insurance fraud or you become aware of a fraud operation, report it to the TDI Fraud Unit online through the TDI website or by calling our toll-free Fraud Hot Line

1-888-327-8818
www.tdi.state.tx.us

• Online Fraud Reporting for Consumers
• Online Fraud Reporting for Insurance Companies

For more information contact: ConsumerProtection@tdi.state.tx.us