This myth, which seems to be a common understanding among the majority of the population, has discouraged the public from even trying to get a lower rate. After all, why waste time when you know it is not even possible?
Why was a myth for so long? When was the last time you received a coupon in the mail or online promo code GEICO, Progressive, or other insurers? Never, right? What is an oil change for free with renewal every year is? Have you ever seen a commercial advertising a weekend special on car insurance?
Unless your a caveman (pun - GEICO commercials), you've never seen commercials that offer insurance and special buy 1 get 1 free, etc. .. But you will see facts or misrepresentations. I refer to him as distorted facts because it seems funny Nationwide states in an advertisement that people saved an average of $ 400 when we went to the insurance company XYZ, then the next GEICO commercial is the state people saved an average of $ 400 when they switched the insurance company ABC, and so on ... If this was true for all people, my insurance premium should be $ 0 per year ... ha-ha.
The fact is: it is illegal in most states insurance agents or companies to give more than $ 25 to any person within 12 months, with the intention of obtaining customer of this incentive. In my opinion, and as a sales manager in the previous mortgage industry, the insurance companies are the biggest culprit’s titles to break this rule.
This law includes not only gifts; it includes discounts on insurance policies without merit. For this reason, the insurance industry is radically different than any other industry. Imagine walking into a car dealership with the same limitations.
So you really can not get lower insurance rates through negotiation, right? Not necessarily true, there is a flaw that is commonly practiced business and commercial insurance policies. It can also be applied with car insurance and home insurance. Local insurance agencies will be much more flexible than larger company’s insurance market.
Here are some ways to negotiate your insurance bill :
- Fax your policy directly to multiple insurance agencies. Tell them you want the same exact coverage you currently have, but want a lower rate.
- Threaten to walk from your current insurance agency.
- Combine your auto and home insurance "with a single company.
- Take a higher deductible. Remove the rental car and free roadside assistance.
- Lower coverage (not highly recommended)
Negotiate your insurance bill and find best rates for your premium insurance