November 20, 2006

It's annual increase time!

I wish it was more exciting than this but the truth is I'm talking about annual increases in medical aid, insurance, and so on.

I received a letter from my broker last week advising that our insurance is going up as at 1 December. Don't you hate that?!

Last year when I got the same letter, I phoned another insurer looking for a cheaper quote. I found more cost-effective insurance from one of the companies who don't use intermediaries (I don't want to be sued on the blog!!!) and phoned my company to cancel.

They asked me if I'd consider staying if they matched the quote. Of course I said yes. The service over the last 5 years (then 4 years) has always been outstanding and I have absolutely no complaints.

This year I'm doing the same. I phoned up the competitor and the cheaper rate this year is not great. I do know that my current insurer is the cheapest I will get if I go through a broker (I do an analysis every year and nobody can beat them). It's tough when you get used to a really good rate!

I have one or two more companies to phone before I make the decision. And the search continues...

So if you get letters like this, don't just accept it at face value. Phone around and see who can help you out. Even R50 less is better than nothing.

Post your success stories on the blog so we can all learn from you.

*** I will update this post to let you know how I do
Right, here's the update. I found cheaper insurance by 8,4%. Have joined up with the new people and cancelled the old one (quite sad after 5 years but money talks).

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