You could be paying much more than you have to
Last month I got my home contents insurance renewal in the mail. It was a rainy weekend so I decided to check the premium. I went to the company’s web site and was unpleasantly surprised to see that, for exactly the same policy my renewal price was 50% higher than if I bought a brand new policy over the internet.
That made me angry, so I checked a few other insurers’ web sites and, after only a short time, found an even cheaper policy and bought that. My old insurer called me after the policy had expired asking why I hadn’t renewed. I told them why, but they didn’t seem to really care.
Home and car insurance, energy suppliers, internet, phone, health insurance: they all take advantage of our laziness. They’re offering big discounts to new customers but often treat their existing customers with disdain, knowing that they’re often too busy or uninterested to notice that they’re being overcharged.
Next time you get a renewal notice don’t just pay it. Spend half an hour on the internet doing some research. There are comparison sites that can do it for you. Whatever method you choose you may be surprised how much extra you’re paying, and how much you’ll save just by switching. I saved around $300.
Don’t pay the Lazy Tax.
Categories: Small change