Inspiration By Experience

Archive for the ‘auto insurance’ Category

There’s never really anything new in the world of marketing. The same ideas that sold three bottles of wine for the price of two in ancient Rome still work today. We all like to think we’re getting good value for money. The most usual approach is to offer volume for a discount. The more you buy, the less you pay. In the insurance world, we see bundles on offer. Pay less if you buy both an auto and home insurance policy. There will be further discounts if you insure multiple vehicles or several different “homes”, e.g. when your teens go off to college and need cover for their possessions. This is simple commercial sense. Unless your family is particularly unlucky, you are paying an increasingly large amount of premium income to the insurer which turns into more profit when you make no large claim. That earns a discount to reward you for your loyalty.

Well, here comes a new experiment from the motor industry. General Motors is flexing its muscles now it’s recovering from the Chapter 11 reorganization. During the last ten years, its reputation has taken a beating and sales of its brands has been declining year-on-year. The last financial year, 2010, was the first time it showed a profit since 2004. It has also shown a slight increase in sales volumes – the first increase after ten years of losing market share. To boost sales this year, it’s offering one year’s free insurance if you buy one of the eligible models. Before you all get too excited, this only applies to the good folk who live in Oregon and Washington, and the offer expires come September. But we can assume more of these offers will be made if sales in the models shows significant increase. So why is this potentially a good thing for you? Read the rest of this entry »

The majority of politicians have a split personality. One minute, the deficit is the end of the world as we know it. The next, there’s no reason to panic. Except, when you look round the neighborhood and see the number of homes going through foreclosure, all those people you know who are unemployed and businesses closing down, you realize the country has not yet recovered from the recession. With every dollar counting to put food on the table and keep a roof over your head, the challenge is to keep all the essentials in place within breaking the budget. In this, remember you always get what you pay for, so buying something cheap is often not giving you good value for your money. It’s always better to find goods or services of reasonable quality at a price you can afford.

So, from the earliest years, we’re taught to shop around. Family and friends laugh at us if we accept the first price offered in the first shop we walk into. Everyone knows you have to go into at least three shops to get an idea of how much goods of this type actually cost. Only then can we see what represents good value for money. Would you start walking round car lots and showrooms without having an idea of the current prices? Would you simply agree to pay the asking price? Almost everyone is prepared to ask for a discount. Haggling may not be everyone’s strength but, in these tough economic times, we should all make the effort. It’s the same with insurance to go with the vehicle. Read the rest of this entry »

Do you have first rate automotive coverage for as little as possible? Although it’s easy to become content with your current provider, it never hurts to take a look around to see what other companies are offering to seek a lower monthly premium. In fact, under some circumstances, switching your plan might be something you’ll want to look into beforehand.

Why Consider Switching?

It’s easy to continue with your current coverage when you’re in the habit of paying your monthly premium. Sometimes, your current provider will have the best prices for you. Many insurers offer rewards to longtime customers, so if you do begin searching for an alternative, make sure you’re aware of all of the discounts you’re currently receiving, and factor those into potential future rates, or you may miscalculate and end up paying more than originally expected. Read the rest of this entry »