I’ve had contents insurance for three years.
The first year, I set my contents to $35,000 (which they guided me towards, everything indicates I NEVER spent that much on all my belongings, but then I bought a lot second hand you can see my inventories in the Inventories tab at the top). My premium was $376.70.
When my annual renewal came, I noticed they’d increase my contents to $40k~! The premium was now $400.32. It wasn’t too much more, but still, I knew I hadn’t bought $5k more stuff (nor do my things cost more to replace – they are getting older, not newer!) I rang up and asked them to adjust it back to $35,000 and re-quote my premium. They came back with $326.76.
Imagine that – year two, I saved $50 on the first year. Small savings, but still, a bill that goes down?! Awesome! I told the whole office…
Now we’re year three. The premium was adjusted when I moved into cohab central, to $411.56 for the year (but pro rata’d). The renewal came, for $37,500 of contents, at a cost of $426.35. Again, not really a radical jump from $411. Still, even with the BF paying half now, I thought it wouldn’t hurt to call up and see if my same tricks could work.
And they did! She quoted me something like $320 for $37,100 of contents. Trying to stick to my guns, I asked her to quote for $35,000 of stuff, and she assured me it’d make no difference. It was $316.57. Hey, that’s the cost of a coffee, so I asked her to leave it at $35,000 on the content. But see that – year on year, my premium has *decreased*.
Here’s a rudimentary graph of quoted vs my negotiated premium!
If you have spare time this holidays, think about spending some time pressing 1. for a call centre staff member reading a script, and see if you too can decrease your premiums!
Have you ever had year on year successes like this? Is it worth it for $4, $10 or $50 per annum – where do you draw line between the effort and ‘bother time’?