This hack is one of the oldest in the book – if you want to get the best price on something, shop around. If you’re hiring a contractor to do some home improvement work on your house, request bids from at least three different companies. If you’re going to buy new furniture, shop around at a few different stores. Not only will you get a good sense of what the market price for something is, you also get an idea of who you would like to work with and what types of styles you like.
The same thing extends to insurance. With insurance, shopping around is easy because you can do a lot of the work at your computer. You don’t need to drive around to different furniture stores and you won’t need to set up quote meetings with contractors. One of the places I usually get quotes from, for insurance anyway, is a place called NetQuote.
With financial products, it’s very difficult to know what place is reputable and what is just a fly by night shop happy to sell your sensitive information to the highest bidder. With a company like NetQuote, you enter in a few pieces of information and you get several quotes right then and there. You can easily compare it to what you’re paying right now and make a decision. They will get quotes from some of the biggest insurance names like Allstate, Farmers, Nationwide, Liberty Mutual, and Progressive. They have quotes for auto insurance, homeowners and renters insurance, health insurance, life insurance and even business insurance. They have the whole gamut.
Another nice “feature” I’ve learned is that I don’t get a lot of phone or email spam after I get a quote. When you go with a less reputable place, they will sell you as a lead to whomever will buy an insurance lead. That’s why you get a million phone calls after you request a mortgage quote and why your email is packed with emails from agents. I’ve only done it once or twice with NetQuote but I never got pounded with solicitations.
If you’ve used them before, I’d love to hear your experience.
Tags: Saving Money
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