Medicated Money

Wednesday, March 29, 2006

Cutting Those Bills - Insure My Insurance

A little story to start today's posting:

4 Insurance companies are in competition. One comes up with the slogan, "Coverage from the cradle to the grave." The second one tries to improve on that with, "Coverage from the womb to the tomb." Not to be outdone, the third comes up with, "From the sperm to the worm!" The fourth insurance company really thought hard and almost gave up the race, but finally came up with, "From erection to the Resurrection!"

Yesterday after work we headed to a local insurance agent that came highly recommended by a personal friend. "Best rates in town!" we were told. We both use very competitive companies for our car insurance, but we needed to add renter's insurance as well as personal property insurance. We figured that with having all of our insurance under one roof (Car, Renter's, and personal property), the overall premium would be less than paying for each separate. Unfortunately for us, this was not the case. First, the price quoted for the combined car insurance for the both of us was approximately 25% higher than our current, separate plans. We were very surprise with this! We assumed that they could beat each of our rates with the other companies, but the agent said that the best she could do was cut a few of the matching perks we already have to lower the overall premium. Um, no thanks. The renter's insurance was what we expected, and the personal property insurance was 10% lower what we were paying at another company. We decided to just add renters and personal property to our plan.

As for the renter's and personal property, it was painful to write the check for something that we probably will never need, but it needed to be done. As financially difficult it was to write the check, the financial pain we would experience if we did not have these policies is leaps and bounds above this immediate pain. Truly, the real kicker was that we did not budget for this money which in turns may make the rest of this month tight! Now we know why they say financial discipline is difficult! We plan to continue to research car insurances to see if we can find a lower, combined plan. If you know of a good website to compare quotes, please let us know!


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