Reader’s Question:

Is it advisable to tell your current insurer of the vehicle insurance price being offered by a competitor?

Ashanta

Baton Rouge LO

Telling your current insurer about the vehicle insurance price that a competitor is offering without being solicited depends on your loyalty to that particular company. If you are satisfied and has been obtaining insurance from the same company for a long time, it is only right for them to know about the competing offer. Your insurer will want to know about the offer being presented and possibly present a counter offer of its own. Insurers can exercise a certain amount of flexibility just to keep their clients happy. If you have openly solicited for vehicle insurance price from other companies because you somehow feel that what you are paying now is quite high, there is no problem telling your insurer about it. It’s just good business practice to know about other offers. However, if you have been actively looking for other offers because you are dissatisfied with the current insurer due to reasons other than price, then, it’s not necessary to tell the company about the price difference. That’s not your problem with the company. What you should talk with your insurer are the things you found unsatisfactory about them. If in the end you decide to shift to another insurer because of the vehicle insurance price, think twice before doing it. You may find out in the end that price is not everything.