Most people will take out some form of insurance in their life for protection and peace of mind. Insurance is an important form of protection for your health, car, life, business and possessions among others. Without insurance, when something goes wrong, be it a burglary, fire or bodily harm, it becomes a costly problem. Insurance works to protect us from unexpected accidents in our personal and business lives. However, not all insurance deals are created equal and there is always room for negotiation. When attempting to negotiate the best deal for you, there are a few things that you should keep in mind.
1 – Be prepared – knowledge keeps you at the top of your game and helps you negotiate what you want. Be aware of what the insurance company can and can not offer. Doing your research can save you a lot of money in the long term when it comes to getting the right insurance deal.
2 – Ask for more than you expect to get. Insurance companies know how much they can drop prices or increase offers. You probably don’t know their limits. So before going in to negotiate a deal with the insurance company, be aware of what you would like to get in your policy and ask for double that. This way you are more likely to negotiate down to what you really want.
3 – Avoid revealing your emotions. When negotiating it’s important to keep a clear head and avoid outbreaks of emotion. Negotiation is serious business and you want to look and feel professional. Just because you love the company doesn’t mean they are going to offer you the best deal. Use your head when it comes to getting the best insurance deal.
4 – Highlight your good points. If you taking out car insurance make sure that you know what’s going to lower your rate and give you a better deal. Never had a crash, point that out. Taken defensive driving courses, make sure you include it in the conversation. Been driving for a decade, tell them. Good health and education record, that will help too.
5 – Keep it all together. Insurance companies want clients and they want your business. If you’re prepared to keep all your insurance with the one company than they are more likely to give you a better deal. Don’t tell them this at first. Initially try to negotiate the best deal for one type of insurance, and once you’ve done that tell them that you are willing to consider insuring your house, car and life with them also if they are willing to give you an even better deal.
With the right tools and information behind you, you are more likely to negotiate a better insurance deal. Without you the insurance company won’t make money, if they want your business make sure that they are really giving you the best insurance deal they can. When you ask for more, you might be surprised and actually get it. It’s all based on a case by case scenario.