Tuesday, November 4, 2008

Haggle, Haggle and Haggle Some More!

The time has come again for my car insurance renewal. Once again I went online and compared prices and since I took my ex-partner off my policy, my insurer was quoting me a premium with a huge increase this year.

I got several quotes ranging from under €200 to over €500; of course when you decide on an insurance cover you must also look at what's included in the policy: for example I could have gone with a company that was charging me €177.70 but only covered me for damages done to other people and properties with a €500 excess and did not cover me for fire and theft.

I found a quote for a reasonable insurance cover that was over €150 cheaper than my current insurance but I didn't really like the hassle of switching companies since I am at the moment with a reputable insurance company with an office in my town so I phoned them and asked them if they could match that other quote. The person who answered the phone put me on hold for about 2 minutes and came back and told me they could give me the same cover that I already had with them for about €100 less, which I thought was reasonable since they do have a few extras included in the policy such as breakdown assistance and free car rental for up to 35 days.

What about you? Does your insurance company overcharge you? If you don't shop around and compare prices, you will never find out. Insurance companies are used to people haggling so don't be shy! I am sure that a lot of companies (and not only insurance companies) bank on the fact that their customers don't bother questionning what they are being charged.

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