This insurance article is going to talk about how people are reading the insurance industry wrong. They think that they have it figured out. They believe that insurance rests itself year after year and thus, believe that they'll make money by letting that happen. The thing is, in the past three years, insurance rates have only doubled. People who had this plan three years ago are now kicking themselves.
For perspective, that thirty-three percent growth is the difference between one thousand dollars and one thousand and three hundred dollars. It hurts when it is laid out like that.
One in every four motorists thinks that insurance rates are mostly stable. The thing with an insurance agency is that they're not like a cable company or any kind of other business. They pay for accidents and other unforeseen things. They're not here to provide you with a good time; they're here in case something went horribly wrong. Insurance companies don't have loyalty rewards.
This is not something that is likely to change.
A loyalty rewards system is unlikely to be instituted and the rising insurance rates are not likely to stop. As long as things keep getting more expensive, so will insurance rates. As repair costs for vehicles grow, claims also become more expensive. Courts have also been thankfully forced to be gender neutral when it comes to insurance rates, at least till 2012.
People end up staying with the same insurer because they don't bother reading everything. Most of the time they stay because they think that going from one company to another will be a heinous hassle. The rest believe that there's nothing to be gained by actually looking at other insurance companies - this part is particularly absurd.
Doing nothing seems like a good idea and Brits aren't to blame for that thinking. Loyalty rewards are all the rage as companies around the world struggle to make sure that they don't lose their customers during the economic crisis. This kind of thinking has been so ingrained in the people that they begin to think that it is generally a good idea to stick to one thing.
It is not unlike the Japanese way of thinking. From childhood, they are culturally inclined towards loyalty. They have a unique word for their group or friends circle, "nakama", a group that they are absolutely loyal to. The English language does not have a true equivalent of this word. When they grow up and start working, their mentality is one of company loyalty. The first company they join is often the last.
This kind of thinking is starting to bleed into western societies, though not necessarily because of cultural transposition. It is starting to come into its own because companies realize how valuable that concept is. Unfortunately, that doesn't quite apply to insurance companies. They don't care how loyal you are, only how risky you are. If there is anything you should take away from this insurance article, it is that insurance companies are interested in the bottom line - nothing else.
In order to secure yourself a much better deal on your auto insurance rate, be sure to compare various insurance quotes from the top insurance providers in your area. Article Source: http://EzineArticles.com/?expert=Colin_B_Woods |
0 comments:
Post a Comment