Tips for getting the best rate for your insurance product

Tips for getting the best rate for your insurance product

I’ve been a car owner for over 10 years and have only changed my car insurance three times, but recently I’ve realized the importance of negotiating lower premiums.

My first insurance came with my first car purchase.

It was a fairly unknown company, and the high premiums made me switch to another insurance company. Their promise of a monthly “cash back” one is supposed to earn for being a good driver is what sold them to me.

Long story short, I eventually left them after being a “good” driver for over 2 years without ever getting a dime from their cash back promise.

I’ve been with Momentum since 2018 and they were very good with me and even paid me back with no hassle when I wrote off my previous car in 2019.

However, what I noticed while looking at my old bank statement was a steady increase in my insurance premiums over the years.

My understanding is that the premium is supposed to decrease as the vehicle ages.

I live in a fairly safe suburb the car is in secure parking and I consider myself a very low risk driver.

I have never received any clear explanation as to why the insurance premium has gone from about R1500 in 2020 to R2300 in 2023.

With the cost of living through the roof, I had to go to Momentum and renegotiate my insurance premium.

I didn’t know what to expect but I know many people who have gone down this path with positive results.

A friend urges me, “The insurance company will always negotiate to keep you.”

The process took over 2 days with sending and receiving emails and phone calls.

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