Insurance – How to save money by just by using the phone and internet

The registration renewal for my car and motorhome were due the other day and I needed to renew my compulsory third party personal injury insurance (what we call the Green Slip in NSW) on both vehicles.

As I do each time I get an insurance renewal, I wanted to check if I was getting the best rates.

For the car, I can compare prices online.  I jumped on online and had a look at a comparison site and compared my existing insurer with the quoted rates.

What I found was a range from $512 to $688.    As I was already with the cheapest I just stayed with who I was.  But if I was with the dearest, a simple online check which took less than 5 minutes could have saved me over 25% and $176.

For my motorhome, you can’t do this online.  So I had to make a few phone calls.  Firstly I call the insurance company that was cheapest for my car.  They were $30 dearer than the renewal notice I had from my existing insurer.  Rang another one and the quote was over $1,000 dearer than my existing insurer.  Once again I stayed with the existing insurer (who is different to who insures my car).

Had I been with the dearest insurer, a couple of phone calls could have saved me over 60% and over $1,000.

So that’s how to save money on your insurance, just by going online or by making a couple of phone calls.

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Do you and your family a favour and start taking steps so you can improve the health of Your Wealth and get off the treadmill of working till you drop.

Wayne Wanders

The Wealth Navigator

wayne@thewealthnavigator.com.au

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