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Thread: Car isurance!!! Are they getting cheaper???

  1. #1
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    Default Car isurance!!! Are they getting cheaper???

    Looking for cheaper insurance?????? Well,if you are looking for a car insurance,you may find a solution. Companies are competing with one other to sell car insurance at a lower rate Though,if you are looking for other forms of insurance at cheaper rate,you may or may not get one just at your doorstep, as they cannot be sold at cheaper rates that easily. So,good thing for car insurance buyers,the competition is tough.



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    Yes there is a tough competition amongst the insurance companies now days,and clients get benefits of this competition in form of cheap rates.
    Last edited by andysmith; 09-23-2011 at 01:01 AM.

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    Senior Member Level 3 Dan Williams's Avatar
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    agreed...many companies constantly changing their scoring models to be more competitive

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    Competition has made life easy for the clients as the companies will compete and provide cheap rates on different insurance plans which is in favor of clients.

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    Senior Member Level 3 Dan Williams's Avatar
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    I think we're going to start charging $9.99 for our quotes. Just to be different

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    Quote Originally Posted by Dan Williams View Post
    I think we're going to start charging $9.99 for our quotes. Just to be different
    Hi, Dan. Our brokerage charges problem clients agency fees for quotes. We only do it for people who are always calling for quotes and are not serious about purchasing. Another thing we are considering is retaining extra premium if the client cancels before their first renewal date. This protects us from wasting our time on them. We don't do this for our regular clients or clients that we like. Just clients that cause us issues.

    We haven't done a statistical analysis yet, but it seems to work on those nasty & needy clients you can't stand.
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    Senior Member Level 3 Dan Williams's Avatar
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    That's an awesome idea. Not sure it's legal in Pa to keep any extar premium unless you have a signature at the time of the original app on a disclosure.

    I believe my office procedure on those types of tire kickers/poor payers is to require a full annual premium up front

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    We defintiely have to get them to sign at the beginning or agree verbally and record their agreement (verbal contracts are legally binding here).

    If we don't get them to agree at the beginning about the retention of premium then we could be on the hook for an E&O if they suffer a loss after cancellation.
    Last edited by bsd058; 12-13-2011 at 09:21 AM.
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    An introduction to car insurance

    Of all the financial products owned in the UK, car insurance is one of the most common. The reason for this is simple: to drive a vehicle on the road legally it needs to be insured, and with 26 million cars on our roads, that's a huge number of people insuring a vast number of vehicles.

    Most of these people are given the chance to review their policies each year, allowing them to switch to a different company should they desire based on price, and the quality of service provided. Theoretically this should mean that everyone knows everything there is to know about insuring a vehicle, but this is not necessarily the case.

    Many people simply allow their policy to renew itself each year when it expires, potentially losing hundreds of pounds by not shopping around for a more competitive quote or only changing insurer when rising car insurance prices become particularly noticeable.
    Last edited by Dan Williams; 12-24-2011 at 01:18 PM. Reason: non insurance related

  10. #10

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    Competition makes products cheaper in the market today. In terms of car insurance, there are many providers online which offer reasonable deals.

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