If you’ve ever shopped for insurance, you know it can be a momentous task. There are a handful of different policies you need to buy; auto insurance, life insurance, health insurance, and others.
Not only do you need several plans, but there are so many companies to choose from; how in the world are you supposed to sift through all of them?
Luckily, there are some tools you can use to make the process as simple as a few clicks. This is where PolicyGenius comes in.
They let you get dozens of quotes from different companies for all your insurance coverage needs, all in one place.
There are plenty of websites out there which let you get access to a lot of quotes, but you also give a ton of phone calls as well. Feel free to put your number in, but expect to get several phone calls a day from pushy sales salespeople.
This is one of the things which sets PolicyGenius apart from the other sites out there. You can get your quotes without having to listen to countless sales agents.
- Quick Look
- Many Types of Insurance
- Licensed in All 50 States
- Insurance Check-Up Tool
- Shop Rates from 25+ Companies, Instantly!
What is PolicyGenius?
PolicyGenius is easy to use tool which allows you to compare dozens of quotes without having to go to each company's website or to call those agents one-by-one.
One unique feature of PolicyGenius is they can help you get quotes for just about any type of insurance plan out there. They can help you find quotes for:
- Life Insurance
- Disability Insurance
- Health Insurance
- Renter’s Insurance
- Pet Insurance
- Auto Insurance
- and more
They are becoming a one-stop-shop for insurance needs. They can help you find just about any possible plan out there.
Behind PolicyGenius: A Brief History
PolicyGenius is relatively new to the insurance market.
They were founded in 2014 with the goal of making the insurance purchasing process as simple as possible.
According to their website, their business started with the question:
why is buying insurance such a frustrating experience?
To this point, they aimed to answer the question. PolicyGenius works with over 25 insurance companies and can bring all of the quotes directly to you.
All of their brokers are licensed, and they can sell insurance in all 50 states. Regardless of where you live, PolicyGenius can help you find what you're looking for.
When you log onto the PolicyGenius, they make it very easy to get quotes.
Their website is clean and comfortable to use. Even if you have minimal technological skills, you'll be able to get quotes. If you have any problems, they have a chat feature you can use to walk you through the process.
To get quotes, all you have to enter is some basic information, like
- your first name
- your gender
- ZIP code
- employment status
Depending on the type of plan you're looking for, they may ask you some additional questions.
Then they will ask you a short set of questions. These questions are going to help them give you more accurate quotes. They are basic questions like tobacco usage, your health, and other simple questions.
After you've entered all the personal info and answered the questions, you will get access to the personalized quotes.
Your insurance matches will pop up, and you can access those plans through their website. If you aren't ready to go through with the process, you can save you results, or you can adjust your coverage amounts or policy type.
PolicyGenius wants to know what your “must-haves” and “nice to haves” are. This could be different things from deductibles, coverage limits, and much more.
After you've decided what matters most to you, they will give you a list of insurance companies.
Insurance Check-Up Tool
Your life changes constantly. Your insurance needs can change as well.
You could have some holes in your insurance coverage. Not having proper insurance protection could leave you with some massive debts or expenses. You never know what's going to happen, which means you should take the time to evaluate your insurance products or your insurance needs.
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PolicyGenius understands the importance of insurance plans and how confusing the process can be.
That's why they created the Insurance Check-Up Tool.
This tool will ask you a dozen different questions and can give you a blueprint of your insurance needs and the areas you already have covered. They will give you an insurance “to-do list,” and they help you check off the things on the list.
If you're worried about giving PolicyGenius your information, don't worry, they have a “No Shenanigans Guarantee.”
They promise they will only use the information to give you insurance advice and will keep your information secure.
After you've answered their questionnaire, PolicyGenius will break up your to-do list into three separate categories:
- Get These
- Think About
- You Don't Need
You can probably guess which each category means. They make it simple to decipher their to-do list, and they also make it easy to get the insurance plans to complete the to-do list.
Advantages of Using PolicyGenius
There is a reason PolicyGenius has such excellent reviews from their previous customers. While I was researching the company and looking at reviews, I saw consistent five stars and rave comments about PolicyGenius.
One of the main advantages of PolicyGenius is how quick and easy it is to get your quotes.
You can receive your personalized quotes in a matter of minutes. If you tried to do all of this yourself, you could spend hours and hours on the phone.
PolicyGenius can save you time and money on all of your insurance plans.
Unlike working with a traditional insurance company, you don't have to worry about working with a biased agent.
Traditional agents work for one company, which means they are going to say whatever they have to get you to buy a plan from them, which could lead you to higher rates.
With PolicyGenius, you're going to impartial advice. They aren't working for a specific company; it's their goal to get you the most affordable insurance policies out there.
Not only do you get the unbiased quotes and advice from their quote tool and agents, but you also won't have to sit through the sale pitch.
Let's say you're looking for life insurance or auto insurance quotes. If you purchase the plan through a traditional insurance company, some agents are going to try and sell you additional plans or extra coverage you don't need.
Should you Use PolicyGenius?
Now for the big question: should YOU actually use PolicyGenius?
Before I answer this question, you should realize the importance of comparing insurance quotes. Regardless of how you do it, with PolicyGenius or one of the other options, you want to make sure you're surveying the entire marketplace.
Every insurance company is different, and all of them have different rating systems, which means you'll get drastically varying rates depending on the company you choose.
Finding the best company for you is the difference in getting an affordable plan or one which will break your bank every month.
With life insurance, for example, the rates you get could rates which are hundreds of dollars apart. If you're looking for several insurance plans, you're about to take on a couple of serious investments.
Now, back to the main question, should you use PolicyGenius?
The short answer is, maybe.
Yes, they help you compare dozens of insurance companies at once, but the problem is there are plenty of insurance companies they don't work with.
PolicyGenius works for some of the highest rated companies out there, and they can give you excellent coverage. Their algorithm for searching through insurance companies is much better than the competition, but as an algorithm, there is only so much it can do.
One of the pitfalls of PolicyGenius is if you're looking for life insurance. You may not be in the best health, which can lead to some expensive rates if you go through PolicyGenius.
The main disadvantage here is they don't work with some of the more “specialized” companies.
For example, let's say you're an applicant with a severe health complication, like diabetes or you've had a heart attack. If you use PolicyGenius, you're going to get a lot of expensive quotes for your life insurance policy.
There are a lot of applicants who assume they can't get affordable life insurance because of their health and the quotes the received, but it isn't true. There are plenty of insurance companies who work with high-risk applicants and offer cheaper coverage.
Another area where PolicyGenius falls shorts is with key person insurance. PolicyGenius can connect you with just about any kind of insurance, but they don't offer life insurance geared towards businesses owners or any key man insurance.
These plans are becoming more and more popular, but PolicyGenius won't be the best route for finding your plan.
Even with all of these disadvantages and drawbacks, there is nothing wrong with using PolicyGenius. They are a completely legit company which has helped serve thousands and thousands of people.
According to their website, they have helped over 4.5 million people shop for insurance and sold more than $20 billion in coverage. As long as you're the “average” customer, then you probably won't have any problems getting quality and affordable insurance policy.
Using an Independent Insurance Agent
PolicyGenius is not the first company to work with more than one insurance company.
In fact, people have been doing this for a dozen years. There are hundreds and hundreds of independent insurance agents out there.
Some agents work with a lot more companies than PolicyGenius, and the more companies you get quotes from, the more likely you are to get lower insurance rates.
Instead of using PolicyGenius automated tool, I would suggest using a real live independent insurance agent.
Sure, it's not going to be as fast as using their tool, and you'll have to actually talk to someone, but a live agent can get some of the details and information they need to pick the perfect company for you.
There are limitations to a quoting tool, which live independent agents don't face.