Not All Insurance Are Created Equal

Confounded, Confounding

Warning: there is a little bit of math here.  I may confuse you.

Not all insurance are created equal.  While appearing equal, most appear to be bloody sharks, feeding on the murkiness of our ignorance.  And sometimes, this is what they actually are, devouring the unsuspecting.  But an enigma too, because their “numbers” could, at once, become flexible as if by magic.  If you ask nicely.  Okay, forget nicely.  If you ask.  There is something about knocking that opens doors.

Let me tell you a story.

Once upon a time, I received a letter for the renewal of my car insurance from Insurance A.  I looked at the premium, thought something was not right, and good grief, when I checked, it was 7,000 higher than the old premium.  Aren’t cars suppose to be cheaper as they age?  Apparently not, if this quotation is to be believed.

The next day, I got another quote from Insurance B.  Same company, different agent.  The quote was cheaper than A’s, the deductible even less.  It was starting to get interesting.

A quotation from Insurance C came.  This was by far the cheapest, but the coverage was for a lower amount.

To illustrate:

A – 100% Coverage – Deductible 5,000 – Price 1,000

B – 100% Coverage – Deductible 3,000 – Price 800

C – 80% Coverage – Deductible 3,000 – Price 600

What if …. Could I…?  I thought I could so I did.

I called C and asked the agent to please give me the same coverage as A.  She said it could be done.  But when I checked my email for the updated quote, I found out she did not exactly match the coverage.

I called B and told the agent that, “You know what, I got a premium from C and it’s really low, like only 600 to your 800.  But I trust your company and if you match it, I can give it to you.  Can you? Please?” B’s agent said she will try.  I heard pounding on the keyboard.  She then said sorry, she could not match it because she can go as low as 610 only.

I could not contain my excitement. I can pay 610 for an 800 peso coverage.  Breathe.

I said to the agent, “Oh, would you?  Hmmm…. Okay, can you send me a quotation by email and, well, I do trust your company.  Hmmmm (I expound my breath)…  You sure you can’t…?  Well, okay, I am taking it.  Thanks.”   Thanks!!!!!

This is a constant source of irritation for D – the way I ask for something I want, all the time, shamelessly.  He feels that it lessens our stature, that we are sort of taking advantage of others, that it cheapens us, when we can well afford to pay full price.

I retort, nicely, that if they cannot afford to give me a price that low, they will not.  This is a free market and I have given them the choice.  If they are willing to push the envelope for me, then I should be allowed to take full advantage of their offer that are fruit of my negotiating skills (okay, haggling).

Drive a hard bargain.  It can save you an awful lot of money.  It saved me 10,000 this time.  I am sure you can do it.

Text by Issa.  Art by D. Copyright 2009-2012.
blog: www.YouWantToBeRich.com
email: issa@youwanttoberich.com

P.S. While we are at the subject of money, I discovered title loans Orlando, a program that lets you borrow money on the value of the car you already own – worth a thought.

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