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Sunday, October 19, 2014

How I saved on Renewing my Comprehensive Car Insurance Policy with Coles

It's just one month before my current comprehensive car insurance  policy with Coles would expire and I just received via post the renewal notice. To my surprise, the premium cost was $100 higher. My first year was around $500 only.

I initiated a chat support through their online website and requested Coles an explanation. The agent on the chat instructed me to contact by phone their team who is handling their Loyalty Program for existing policy holders.

Coles Comprehensive Car Insurance Renewal quote
for a 2013 Honda Jazz Vibe-S
Since insurance competition among insurance companies is great here in Australia and their websites readily accessible via the Internet, I tried first to getting an online quotation for a comprehensive car insurance from a competitor. As I did before (see How I Saved on my Comprehensive Car Insurance with Coles Insurance ) I captured screenshots for each page from the competitor's website and saved it as word document.

The quote I got was just $389.

I rang Coles Car Insurance hotline and requested to speak with one of the members involved in their Loyalty Program. I requested the Coles Car Insurance agent to beat or match the quotation I got from a competitor's website. I also requested to also include the FREE Roadside Assistance they provided last year.

The agent informed me to email them the document containing the screen shots for every page of the competitor's online quotation.

The agent requested for a few minutes to review the contents of the quotation I sent them and eventually matched it (but without the FREE Roadside Assistance).

As expected, she immediately offered me an option to pay it via credit or debit card on that instant. However, knowing my options and knowing that it is still days before my due date, I politely decline the agent's offer and instructed her that I will wait first for the modified renewal letter/notice before making the payment via credit card online.

After a few days, I did receive the modified renewal letter/notice bearing the cheaper and lower premium of just - $389. I eventually paid for it via credit card online after settling the payments for CTP and my rego.

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