Using The Annual Statement To Make Your Decision About An Insurance Company

Article Posted by Expert Author: Carly Jorge  on 04/08/2013

Many homeowners looking for a better insurance policy will often resort to online resources that allow for side-by-side comparison. While this is definitely a smart way to compare homeowners insurance companies, there is another way, and that is to take a look at an insurer's annual statement.

 

The annual statement is something that every company who provides homeowners insurance must file on a yearly basis. It summarizes the company's financial operations for the previous year, including a balance sheet. Knowing how an insurance company is faring financially can help you determine their stability. You can also put their balance sheet against what they are willing to offer those they insure.  In order to get the annual statements for the insurance companies you're considering, visit the Department of Insurance web site for your state. And never hesitate to contact an insurer when you have questions about items listed in their annual statement or policy.

 


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