Someone once said that the only certainties in life are death and taxes. However, that statement might be revised by adding insurance to that list, as well. Although nobody enjoys paying hundreds of dollars each year for insurance that they will hopefully not have to use, when people find themselves in positions where they must makes insurance claims, they are certainly glad that they paid their insurance premiums. Also, when waiting to hear back after making insurance claims, people want to avoid a lengthy insurance claims process.
While no single insurance company is the best for everyone, and most can give competitive rates, the speed of an insurance claim process can be the deciding factor. Given the fact that most people are impatient and want to receive their money yesterday, those insurance companies who are the fastest at processing insurance claims have an advantage over the slow pokes. Hence, you have so many large companies offering 24 hour insurance claims service. The primary disadvantage of choosing insurance companies who provide 24 hour insurance claims service is that they are usually huge companies. On the other hand, if one decides to purchase his or her insurance from a smaller company, they will receive a competitive rate, as well as personalized service. So what sounds better filing fast insurance claims with a large company, or giving your business to a small insurance company who may be slower with insurance claims, but whose employees know your name? As with most things in life that offer options, each comes with a trade offs.
Most people who surveyed in 2010 stated that they prefer fast claims service over personalized service any day. The reasoning given was primarily based on the fact that fast money was always a priority, in addition to the overall feeling that personalized service is overrated. Thus, those who took the survey could not care less if their insurance agent knew their name, as long as they could file their insurance claims that day.