I’ve been insured by the same company since the early 1980s and every staff member I’ve ever contacted, for any reason, delivered better-than-expected service. I hope to be insured with them forever; however, that doesn’t stop me from wanting the best possible deal I can get on the policy.
Insurance is one of the few things you pay for and hope never to use. I have an excellent driving record. Over the years there have been a few incidents, but for the most part I’ve remained accident-free. I’m very superstitious, so I’m now knocking on wood that it continues.
When I receive my yearly renewal I always peruse it for increases. Generally I’ve felt that the increases were fair, and many years it didn’t increase at all.
I don’t want to change companies for only a few dollars in savings, because this company has performed so well when I needed them. However, I believe it never hurts to ask for a price break, so every once in a while I:
Ask For A Better Rate
I called one year after a large increase and asked for a lower rate. I’d spent some time employed in non-standard insurance marketing and knew that we often wrote new business at a lower rate, just to get new business. The customer service representative (CSR) was able to rewrite my policy at a 10 percent savings. Her rational was the same as mine; new customers were receiving a new customer discount. Because they valued my business I received this discount, but did not forfeit any of my long term benefits.
I’m not quoting actual dollar amounts because you can’t compare the cost of insuring a luxury car to an economy car. The luxury car costs more to insure because it is a more expensive car to replace, so an actual dollar value would be misleading.
Ask About New Discounts
A few years later I got an increase that I thought was high, so I called to see if there was any way to get a better rate. This time the CSR was able to identify a discount I qualified for, but wasn’t receiving. I had attended a university whose alumni received a 10 percent discount, so she was able to offer it to me. Always ask your agent or CSR about current discounts to make sure you are receiving every savings you’re entitled to. This is especially important if you’re with the same company for years, since new discounts weren’t in place when you first obtained coverage.
Know Your Driver Class
Your rate is partially determined by the driver class you’re in. For example: If you drive 15,000 miles per year and use your car to commute your driver class could be different from the person who drives the same 15,000 miles per year but works from home. At one renewal I realized my driving situation had changed, and I was able to reduce my premium by 5 percent just by letting the company know I was now in a lower priced class.
You do not have to change companies to save on premiums. I don’t think it’s a good idea to change companies to save a few dollars, there’ s something to be said for staying with the company that you know provides great service.