Do Car Insurance Companies Price Match Anymore?

The thing with the old days was that the information was limited. You would need to call a few companies to get quotes and they were the usual suspects. It was hard to find an obscure carrier with a new method of calculating premiums. Also, there weren’t as many ways of shopping around for the cheapest auto insurance quotes and that limited the price differences.

In the good old days, you could talk to your current provider and get them to match their price, providing the difference wasn’t too far off. Today, things aren’t as straightforward. First of all, it isn’t easy to get connected to a person who will listen and consider the request. Secondly, people who answer the phones may not be able to make decisions unreservedly any more.

Intricacies of Automated Decisions

Every company can consider so many details in seconds with the help of algorithms. When one of their telephone agents looks at the quote given by their own company, they cannot easily tell you why your premium is higher and how they could lower it. That is why they come to trust their algorithm more than they trust their agents.

However, they can run the quotes again with different variables. For example, they can check if increasing deductibles would reduce your premium a bit. Or they can quickly run your information again and see if there are any recent changes that will improve the renewal quote. For example, your roommate with a bad driving record may have left recently and you never mentioned it to the current carrier. But you wouldn’t have even mentioned such a person’s existence when you get a quote from others.

What Is the Possibility of a Price Match?

You may have done auto insurance price comparison recently and found lower rates. The question is what to do when you find a cheaper price but it isn’t low enough to make a leap on the spot. The idea of going back to your current provider for a price match isn’t bad and they should appreciate it.

Some might even say that it is the right thing to do. It is certainly a possibility as mentioned above. A company representative can quickly look at things and run the quote again to see if you will get a more favorable outcome. You could even do this on your own online.

It is worth pointing out that some people do get cheaper quotes when they apply to their current carriers as if they are a new customer. Go figure. This goes to show that they have a wiggle room to help out a little if they are willing.

In order to force such a revisit of renewal quotes you need to shop around first to see if you are really paying more than you should. In order to compare coverage accurately, you may get your current policy out and have a quick look at the position. If satisfied, you can enter the same details and see if you would get a better price.

Although it isn’t essential, being with the company for a while may help in making a case. Having a good driving and credit history may help as well. However, you have more to trim off if you had a claim recently or your rates were jacked up because of a traffic violation ticket. Believe it or not, having a year under your belt without any incident after an accident is something to brag about when it comes to asking for discounts.

What You Will Find Out from This Exercise

There are a few things you will quickly learn by being curious and asking questions like the title of this post.

1.     You will quickly and easily learn if you are paying too much for car insurance. It takes only a few minutes online to get several quotes. Maybe one of the other carriers you are already familiar with will offer you a quote you cannot refuse and don’t feel the need to consult with your existing provider. Switching is a child’s play these days, especially at the time of renewal.

2.     You will be forced to have a look at your current coverage and assess its suitability to your needs. If you let your policy auto-renew you wouldn’t probably bother with such an exercise and don’t feel the need to update it.

3.     You will find out if your existing provider is bothered if you leave or stay. This will show if they care enough to try and help you out a bit. You may need to negotiate like increasing deductibles to come to a mutual agreement. As a result, you may feel better knowing that your car insurer does really care and take the time to help.

4.     In any case you will get the answer one way or another. The worst thing that can happen is that they say no and you don’t feel guilty about replacing them.  

There is no need to be shy about these things. It is only fair that you look after your own interest. At times we are too polite for our own good. Also, it has nothing to do with having enough money or not. You don’t have to be poor to want to haggle for the best deals. Finally, there is nothing wrong with being prudent regardless of your financial position. Don’t let suspect perceptions cost you.