Don’t get blindsided by football players advising you to get a discount double check.
Insurance companies all offer discounts on the types of risk they believe are the most profitable for their company. In fact, most companies will reward drivers who exhibit and adopt risk characteristics that limit the company’s exposure to losses. For instance, anti-lock brakes have proven to be an effective safety measure, therefore many companies offer a discount to car buyers who look for cars with those as options. However, discounts are only a small part of the pricing strategy of the big insurance companies.
Think of discounts as the frosting on a cake. That sweet decoration gathers a lot of attention, but just like a red velvet cake, if the recipe doesn’t have the right ingredients, the end results are a failed recipe that doesn’t satisfy. A ten percent discount may seem like a good deal at the beginning of a policy, but what happens if the policy itself limits the amount of protection you have for out-of-pocket expenses. So what if you save 5% on a $3000 policy premium! Is that $150 savings going to matter if one of your relatives borrows your car and coverage is denied because some small print gibberish leaves you without a fender? Is that $150 going to make up for a policy that specifies you have to use a repair facility that is miles away and takes forever to complete the work.
Obviously you don’t have to be a Cheese Head to have your discounts double-checked. Any licensed independent insurance agent can go down a checklist to see if you got all offered discounts! But at the same time, chasing discounts is only one part of what controls the price of insurance. Awarding discounts may make for a visible and marketable example of “savings”, but when it comes to real savings; it is the policy and the company that backs it, whose recipe decides the overall taste.
An insurance professional, who works with a variety of companies, can check your entire policy – not just the discounts. He can not only provide you with the discount frosting, but they can combine that frosting with a double rich chocolate cake along with a raspberry filling to match.
Remember when you buy insurance, work with an independent agent to investigate everything about your insurance policy. Don’t just double check the discounts. Don’t let a company do an “End Zone Dance” on your protection.
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