Getting-legitimate-discounts-for-quality-car-insurance
If your mother was anything like mine, she probably drummed into you from the first
time you started spending your own money that "You get what you pay for!". The implication of this is, of course, that more expensive products are better quality, and cheaper ones are lower quality. Unfortunately for people like my mother, this mode of thinking is now completely outdated. New business and revenue models have created a plethora of lower cost options, and plenty of legitimate freebies can also now be found in the world. Car insurance is one of these lower cost option quality products. Forward thinking insurance companies with a keen sense of technology (and how to use it to serve their customers) have made some real progress in bringing down the price of car insurance. We look at how to identify genuine car insurance discounts, that won't reduce the 'quality' of your policy at all.Personalisation in car insurance
Personalisation is one of the biggest things an insurer can do to help bring down the price of your policy. The general insurance customer usually doesnt realise that insurance companies often make worst-case assumptions about how they, the customer uses their car (or in the case of home insurance, the risk inherent in the home's location). These assumptions often drive up premiums by a substantial amount. For example:
If you work at home and don't drive your car much
If you are a stay-at-home parent
If you work part time
If you don't use your car for business purposes during the day
Then you inherently have lower risk of having an accident. Insurance companies that ask these types of questions about your car use are personalising your car insurance policy.. and often giving you discounts off standard rates because of your answers.
Simplicity - the budget mentality
Insurance companies usually make an enormous investment in marketing and branding, in an effort to get more customers. The cost of these activities is invariably covered by the charge for their products. You can see the cost of marketing and branding on every supermarket shelf - generic brands are often the same quality product, but cost as little as a third of what brand name products cost, because they have no packaging design, no branding and no marketing associated.
Car insurance companies can give genuine discounts when they forego the bells and whistles that marketing usually requires, and simply have a great quality product. You don't need to be worried that a cheaper quote from this type of company will be lower quality - they simply lower their own costs, and pass the savings on.
Automation
Labour is another major cost in almost any company. However, the prevalence of business online has created a wealth of possible solutions to the dilemma of increased business requiring increased staff. There are now plenty of ways a car insurance company can automate its activities online, and pass the lowered costs onto their customers. These include:
Automated car insurance quote facilities
FAQ sections that help answer customer queries without ongoing staff input
Automated policy manager facilities, allowing customers to make their own changes and input claims without speaking to a customer service rep.
Going online
Car insurance companies that operate online have enormously reduced overheads. The cost of real estate is almost entirely absent, and all of the associated bills. Online marketing is also much less expensive that traditional offline avenues like television and newspaper advertising and much more effective. The move to an online environment allows car insurance companies to greatly reduce their premium prices, without actually reducing the amount of cover they provide.
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