Frequently Asked Questions
Insurance is complex and confusing, but it does not have to be unknown. On this page, you will find Questions & Answers as Insurance 101 — Introduction to Insurance. We gathered insurance experts to define the best way to serve customers. If you don’t see what you want to know, hit us with a message.
General Questions
What is the best way to save on insurance?
Have a trusted and independent agent to guide you along the process. This industry cannot have an Amazon-like 1-click buy button. (if it could, we would know it because we worked at Amazon). Spend 1 hour with your agent to do it right instead of getting quick rates online.
Why do I need insurance?
Insurance is important the protection of your family and property. While you need basic liability insurance for vehicles in most states, you do not need other types of insurance. But is essential for protecting your assets and/or enables you to go through difficult times when your home or car is unusable. For example, in the event that the home is flooded due to burst pipes, home insurance would cover the repairs and any necessary hotel stays.
What can you help me with?
Our initial service focuses on saving you money on insurance shopping. It will be both in terms of paying the lowest amount of premium possible and getting the right coverage for yourself. We are licensed to operate as insurance agents both in Consumer and Commercial business lines. Currently, we are focusing on helping Consumers as well.
How often should I shop for insurance?
We recommend shopping for insurance every 2-3 years (not more frequently). Having said that, we have seen 25% of customers shop for insurance every year or more frequently.
Which states do you operate in?
We currently serve the Texas market. While it is possible (and relatively easy) to offer insurance in more states, we believe market expertise matters.
There is so much spam and advertising. Why should I trust RateTalk?
We gathered a team of industry veterans, coupled with technology experts to develop our experience. We put our time and money to do the right thing for customers. Also, we refused to take outside money, which was not a good fit for our model. We felt like taking money would break our independence. We realize it is difficult to break the myths and lack of trust developed over time. However, we also see that customers are still unhappy with their choices. We hope you give us a try and see it yourself.
OK. You got my attention. What do I do now?
The best way to work with us is to set up a 30-minute virtual meeting. We would love to learn about your goals and see if we are a mutual fit.
What is your business model, how do you make money?
This has been a major topic of research and analysis for us. We considered a subscription model like Amazon Prime and also followed an agency model. We earn commission from sales of policies when you buy the policy from a company we are appointed with. So, we decided to keep the agency model so that customers do not have to pay upfront. Also, in this way, there will be less friction. We would love to hear your feedback and preferences as we operate in this market.
About Our Services
Insurance Shopping Advice
We developed as an independent agency and gathered cross-functional experts from top insurance companies to provide best-in-class advice to our customers. Try our Policy Optimization Tool (POT) to find out whether you are over- or under-insured.
Discount Checkers (TM)
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Car Insurance
Car insurance is a necessary investment as financial protection for you and for your vehicle. In case of accidents, damages, theft, or breakdowns, car insurance can take care of towing, repairs, rentals, and sometimes even replacements. Every state has their own requirements for car insurance, however, many drivers need stronger coverage. Car insurance rates vary based on the type of coverage, state, age, marital status, and driving history.
Umbrella Insurance
Umbrella insurance is additional insurance that provides protection above and beyond the limits of existing insurance coverage. Umbrella insurance covers injuries, personal liability, property damage, and some lawsuits. If car insurance, home insurance, or motorcycle insurance becomes exhausted, your Umbrella insurance may provide the extra coverage you need. It can also cover claims that are not covered by other insurances.
Homeowner Insurance
Home insurance is important for the protection of homeowners and their property. While not required in most states, the majority of lenders require proof of home insurance before approving a home loan. Home insurance is used to cover damage to the home, hotel stays during home repairs covered by insurance, legal expenses in the case of an accident lawsuit, and stolen property.
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