Experts say consumers should buy insurance the same way the purchase homes or cars. Meaning, it takes time to find the right policy with the best coverage and value.
Whether it's life or health insurance, experts say it's easy for consumers to make mistakes when buying policies.
"We've got to be cautious," says Scott Mecham of the Better Business Bureau.
The biggest complaint he hears from consumers, "I thought I was covered but I wasn't."
Mecham says insurance is a contract. It's important to make sure the policy coincides with what the agent tells you. In essence make sure the coverage matches up.”
"It's not a situation of being scammed, you just need to be sure of your coverage," says Mecham.
George Rejda, is a UNL Professor. He teaches insurance classes.
"The biggest mistake is not knowing what they're getting," says Rejda.
He says consumers are often persuaded by an agent on what they should buy, and in turn don't shop around.
"Consumers will be really careful when they shop for a new car but rarely will they check out individual companies," says Rejda.
He offers these tips:
However, those married with kids should shop for a much bigger policy.
“There's enormous variation with policies," says Rejda.
To insure you get your money's worth, experts say it's a combination of things.
Mecham says, "A good agent, and a careful consumer are really important."