It’s clear that shopping for insurance is never going to have the same thrill as looking at new cars or visiting an open house, but it’s still a necessary part of life. You need insurance to secure your financial footing and cover you in the case of catastrophe. So, when you’re shopping around, it’s invaluable to have an ally that will help you get not only the best price but also the best policy for your situation — and that’s where insurance comparison site Policygenius could come in.
Policygenius works to streamline the different aspects of buying insurance by walking customers through the entire process and providing them with support along the way. The team at Policygenius is salaried, so you don’t have to worry about commission-based motivations, and you can shop without giving your contact information to insurance companies, which are two characteristics that set Policygenius apart.
- What Is Policygenius?
- How Policygenius Works
- How To Apply For Policygenius
- Alternatives to Policygenius
Simply put, Policygenius is an insurance shopping site that will get quotes from across the industry for the product that you’re looking for, allowing you to compare them all and select the one that’s best for you. It offers options for many different types of insurance, such as:
- Life insurance
- Homeowners insurance
- Renters insurance
- Auto insurance
- Disability insurance
- Pet insurance
- Health insurance (including vision insurance, long-term care insurance and prescription discount cards)
- Jewelry insurance
- Identity theft insurance
- Travel insurance
Unlike similar sites, Policygenius doesn’t just hand you off to the insurance company once you’ve selected your policy. It remains involved in the process and helps you complete your transaction with help from their licensed advisors.
On a basic level, Policygenius is a price comparison website for insurance. It allows you to access a single location to collect quotes from as many different insurance companies as possible. Those capabilities might be relatively commonplace these days, but Policygenius tries to separate itself from the pack by going further in the process with customers. Beyond finding the best insurance policy available to you, the site also handles the application and approval. The intention is to help ensure you get the same price that you were quoted and you don’t have to deal with the confusing interactions that often make the process of insurance shopping so frustrating.
Because it gathers more information early in the process to avoid surprises later, Policygenius boasts that over 80% of the policies it quotes ultimately sell for a price within $10 of the initial quote. If you end up receiving a different price from the insurer, Policygenius will start shopping you around to other companies to see if it can find a better price for you.
The company gets paid a commission for every approved insurance application. Policygenius states that its commissions are similar for each insurer, thus eliminating an incentive to favor one company over another — though it doesn’t share those rates. The site also stresses that its commissions are usually built into the cost of the policy, so they don’t increase the cost to you.
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Who Is Policygenius Best For?
Policygenius is clearly meant as a tool for the uninitiated. Not only does the site help you determine the types of insurance you might need, but it also provides licensed experts to support you in every step from application to approval. Granted, any insurance advice from a company that makes money from getting people to buy insurance should be taken with a grain of salt, but Policygenius’ commitment to handling all of the interactions with your new insurance company is a big part of the sell.
All told, if you have trouble understanding insurance policies or just find the entire industry to be frustrating, Policygenius could be the right tool for you.
Who Should Pass On Policygenius?
If you’re already knowledgeable about the insurance industry, it’s entirely possible that you won’t get as much out of this comparison site. Someone with a clear understanding of what they need and how much they should expect to pay won’t benefit tremendously from the hand-holding by Policygenius. Of course, if you’re already well insured at a fair price, that’s another reason to pass on Policygenius.
There’s no trick to getting yourself set up with an insurance policy via Policygenius. Simply go to Policygenius.com and select the product you’re looking for or start plugging your information into the company’s Insurance Checkup tool to see its recommendations and advice. You’ll have to provide some personal information depending on the type of insurance that you’re researching, but you can still shop anonymously.
Of course, the principle of shopping around for different insurance quotes also applies to the site that’s helping you shop around. It’s worth considering alternatives to Policygenius and checking to see if you can find lower quotes by using a different comparison website.
Here’s a quick look at available alternatives to Policygenius:
While Policygenius is a generalist, there are plenty of other sites dedicated specifically to a particular type of insurance. There’s no guarantee that they’ll offer a better product, but it’s always worth checking out. You can also consider going directly through insurers, though you miss the opportunity to get multiple quotes from different sources that way.
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Disclaimer: This content is not provided by Policygenius. Any opinions, analyses, reviews or recommendations expressed in this article are those of the author alone and have not been reviewed, approved or otherwise endorsed by Policygenius.