- Cheapskate Monthly's Tip of the Day for 5/19/07
NEVER buy insurance from television or direct mail ads. This is a sleazy marketing ploy. The premiums are at least 400 percent too high for the coverage, and the exclusions are mammoth.
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I agree with your advice. Much better to sit with an agent face to face so as to better understand your options. Buying insurance through the mail or over the phone is not a generally good idea.
ReplyDeleteActually, Andrew...I will agree and disagree with you:
ReplyDeleteI dont think we need to be learning about insurance from an insurance agent no more that I would want to learn about buying a car from a car dealer.
A better option would be to learn about insurance from a competent 3rd party with absolutely no vested interest in the industry. That way, you become an "informed consumer" which is what I became. I told MY insurance agent what to do...and I knew I was right. Saved me over $300 per year. Then, I shopped him. When I was done, it saved me another $150 per year by shopping around.
You are correct, we don't want to buy insurance from TV or radio ads, having a person to be accountable (an agent) is the preferred method. If you're angry about something, a telephone operator just isn't the same as a face-to-face conversation. But I would advise anyone to learn about insurance before speaking with an agent.
I completely agree Pyroguy. I'm sorry I was not more specific in my comment. More informed consumers can make better decisions when buying insurance, including saving money. It's great you were able to save money when buying car insurance. I encourage others to take the same course of action as you. Thanks for the clarification.
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