Paid off the car today 🤑 Savings on insurance?
So I decided to pay off the last four payments of my car loan. I used my tax refund to do that. Because, you know, I still pay taxes. 😉 😉
My insurance bill came last week and I usually pay six months ahead rather than monthly. This policy is full coverage which I was required to have because I was making payments. It cost me $417 for a six month period.
acme insurance, I meanimage
As soon as I got done writing the check and paying off the car, I decided to call my insurance agent and ask him to reduce my coverage to liability only.
I'm thinking, "Heck yeah! I'm gonna save a lot of money on insurance now." I just got the new policy by email and the new price including all those grand savings will be $392 for six months.
That's 25 whole dollars that I'm gonna save. Make that 50 if I count the savings for the entire year.
I said to myself "Something's rotten in Denmark." There must be some kind of mistake, so I give the guy a call and I asked him, "If I had wanted to change from liability to full coverage, for example, are you telling me that there would only be a $25 increase in my premium for six months?
He responded that full coverage would probably be three times more than the coverage I just asked for.
I tried to lead him very gently to the logic that you are probably thinking right now. "Would it not stand to reason that if I go from full coverage to liability that it would be about one-third the price?"
This is an insurance agent whom I have been loyal to for the last 8 years. One time I did have to go to another company for insurance related to the business, but I told him, "As soon as I can get on my own insurance for that car, I will come to you, out of loyalty." And I did, and here we are today.
First, when I told him I could take my children out to McDonald's with the savings, he said "No, the savings are more than that." Now we are arguing about five or ten dollars? So maybe I don't use up the whole sum of $25, maybe it's $23. Really? This is your defence?
I don't care about the money. I had a plan to pay off the car and then reduce my insurance and pay less per year for insurance. I expected it to be about one-third of the previous cost. This is the cheapest, most basic new car a person can own and I don't care if it gets wrecked. I want to cover costs if I am the cause. I have never questioned the money he said I would be paying for insurance. Now I have to.
I, right away, called my oldest son and told him about it and he said, "You know, Dad, a lot of people look at you and they see a wallet coming."
That said, most people who know me appreciate me for my loyalty and my good nature. And I expect that. Most people show me that, and I show them respect until they prove they do not deserve it any longer.
The last and only attempt the the insurance guy made to save the deal that we have in front of us was to explain that my full coverage was very basic - and the new sparkling shiny liability policy was very comprehensive. Oh please.
He is currently working on a less comprehensive liability policy for me (same car). Again, the money is not important. I do want good coverage and I will pay for it.
What say you.
A: Dump this creep
B: Just pay his next attempt.