As consumers, you have a particular choice of the store from where to buy your food, clothing, jewelry, or even vehicle. Of course, you’d go to an establishment where you’ve built a relationship already. But other than these tangible possessions, you also purchase other products such as car insurance.
Keeping the same insurer is one’s own personal choice. It could be because of great customer service experience, great deals, or simply the interface of the insurance company’s website. But no matter what the reason is, have you ever wonder if it’s worthy to be loyal to only one provider? Let’s take a look at matters.
Convenience comes with a price
It’s extremely convenient to stay with the same insurer when the time for renewal arrives. All you had to do is give the go signal once the company representative gives you a call. Besides the minimal change in the premium, you avoid the tedious process of obtaining a new policy.
But what if another provider offers the same exact coverage at a more affordable premium? Convenience always comes with an equivalent price. But at the end of the day, you still decide which one to choose.
New vs. existing customers
In this kind of industry, it’s easier to retain an existing customer compared to acquiring new ones. Sometimes, all it takes is one phone call to convince a policyholder to renew the contract. And to have new clients will take more than a dozen phone and personal conversation.
Along with this comes the offer dedicated to fresh clients. Discounts and freebies are automatically at the table. And despite being with the insurer for years, you don’t get to enjoy the same perks.
When you were still being offered a car insurance policy, you were offered several plans until you found the one that satisfies your insurance needs and expectations. At the time of renewal, you can still get the same great deal if you look at other available options.
Now let’s answer the question. Is it worthy of being loyal to your insurance provider? The answer: It depends. No two situations are exactly the same. So examine your requirements to help you know the answer.