Cheap Insurance? You Get What You Pay For…
In my line of profession I often get asked “can you get me cheaper insurance” to which my response is always “I don’t sell cheap insurance.” This usually leaves a puzzled expression followed by something like “well why would I go with you then?” and to be perfectly honest, this should be the first question you ask when buying any product or service.
You see, for a number of years the big insurance companies have bombarded the general public with funny lizards and comical characters promoting “cheaper is better.” So much so, that insurance has now become more about the price than what the policy will actually cover you for, so it’s not surprising price seems to be high on everyone’s agenda.
Don’t get me wrong, I’m all for saving money, but cutting corners just to save a few $$$ on something as significant as your home or any other type insurance in my opinion, is foolish at best.
Let me ask you this, would you want the cheapest surgeon to perform a complex operation on you? Would you go for the shady builder who offered the cheapest quote when undertaking important construction work on your home? Would you go with the cheapest quote to repair your vehicle? Or do you usually go for somewhere in the middle with a good reputation?
For those of you who said “somewhere in the middle” congratulations BTW. For those of you who said “the cheapest” I get the feeling you’ve probably been unsatisfied with a particular product or service on more than one occasion in your lifetime so perhaps it’s time to start spending a little to save a lot.
As tempting as it is to pinch a few pennies here and there, when it comes to something as important as your health, business or home, its better to go for protection over price. I often hear from disgruntled individuals that “Insurance is a rip off because they never pay out!” and I would ask “when you took out the policy, did you go with the cheapest quote?” and 9/10 they always say “yes.”
Whilst I sympathize with many of them that their insurance didn’t cover them when they suffered a loss and remain frustrated that their broker could have done more to explain “cheaper isn’t always better” I still have to point out that if money was the only motivating factor when taking out insurance, then perhaps they need to share some of the responsibility for making a bad decision.
Thankfully, most of my clients understand that my number one goal is securing you a policy that actually responds when you need it the most.
As your broker, I want to be able to look you in eye’s and say “you remember the time you took out this policy, and you said to me you didn’t need that insurance type because you wanted to save $200 and looked at you and said you do. Well, that extra $200 a year has just saved you $30,000 to rebuild your entire basement.” I don’t want to have the other conversation whereby it ends up me saying “you wanted the cheapest insurance and against my advice that’s what you went for so unfortunately you’re not covered at all and you will have to come up with the $30,000 yourself”
The thing is, if you want cheap insurance, then don’t come to my office. Go to another broker who’s happy to sell you a “cheap” policy. However if you want great value insurance from a broker who really cares about you, your family, business and financial investments then make sure you give me a call on 306-491-1322 or email me at firstname.lastname@example.org anytime.