We just got a new car, so the car I use all the time, I now use maybe once a week. I thought it might be more cost effective to try pay as you go, or per-kilometre car insurance, and called my car insurance provider to see if they had that option for me now. The conversation went something like this.
Me: “Do you do insurance for pay-as-you-go or a per kilometre rate? I think $878 a year for car insurance is a bit too expensive, so I’m just shopping around a little.”
Insurance chick: “Oh, don’t do that. We have a retention service here for long-standing customers. (I actually suspect they have this for anybody who calls and suggests they’re shopping around). Can you answer some questions for me?”
Me: “Yeah, ok” …. insert a few boring questions here.
Insurance chick: “OK, we don’t want you to take your policy elsewhere, so we can change your policy from $878 to $741 per year, if you stay with us”.
Me: “Do you take Visa?”
So the ol’ don’t ask, don’t get really is as simple as that. We were both polite, I didn’t threaten to withdraw my business straight away or tell them they were idiots – I just said I was shopping around – and the woman on the line couldn’t have been more helpful. I’ve used this trick to save money on my credit card bills, and I’m sure you could use it for all kinds of things – because right now, companies need your business more than ever. And if a company doesn’t want your business – don’t be afraid to go elsewhere.
PS … Just a reminder. A year ago, I wrote about 2010 and having the life you wanted … without going bankrupt. As 2010 draws to a close, have a think … did you get it yet? If not, start thinking about 2011.
New Year’s Resolutions are a Crock .. Just Decide to be Richer in 2011. | Personal financial advice & tips for women January 5, 2011 at 5:55 pm
[...] n easy audit of your “essential” spending – especially insurances – and work out if you can get the same thing at a cheaper price. If you can’t be bothered shopping around, just call your existing insurer and ask for a [...]