Skip to main content

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.



Labels:

Comments

Post a Comment

Popular posts from this blog

Novated Lease Calculator - UPDATED!

DOWNLOAD ->  CALCULATOR: Novated Lease vs Car Loan vs Cash Purchase You can download and share this article and please don't forget to hit the like button as well. Enjoy shopping for your new car! Password = check the comments section below. please leave your comments if you like it DISCLAIMER:  The information in this website and the links provided are for general information only and should not be taken as constituting professional advice from the website owner The calculators and tools on this website are provided for your information and to illustrate scenarios. The results should not be taken as a substitute for professional advice. All reasonable care has been taken in preparing and designing the calculators and tools; however, ASIC provides no warranties and makes no representation that the information provided by the calculators and tools is appropriate for your particular circumstances or indicates you should follow a pa...
4 comments
Read more

Novated Lease vs Car Loan vs Cash Purchase

You could have been searching for a sample Novated Lease calculator or illustration that you can use to compare versus a typical car loan or a straight-forward cash purchase. Below is a sample comparison. Those ones in yellow, except for the 'annual salary' which you should be providing to leasing company, will be provided by the same leasing company. You can play around and replace the values as you please. Those ones in 'orange' can be changed as well on the Car Loan and Cash Purchase options. sample comparison For the car loan option, you can change the values for the 'Loan Capital/Car Purchase' and 'Interest Rate'. You should be able to provide this by asking a car dealer and/or bank where you will avail of the loan. For the car purchase option, the 'Opportunity Loss Rate' can be optionally supplied. You can supply a value that may be equivalent to the ongoing bank interest rates or any investment tool interest ra...
9 comments
Read more
Novated Car Leasing Myths What is Novated Leasing? A novated lease (colloquially know as ‘salary sacrificing’) is basically a three-way agreement between an employer, an employee and a finance company. The employee gives consent to “sacrifice” some pre-tax salary to pay for their vehicle. The employer agrees to make the payroll deduction on the employee’s behalf. The finance company sets up the deal and handles administration. If the package is structured intelligently, at the end of the term all the employee needs to do is hand the keys back and decide what car to buy next. Novated leases are a popular form of cost- and tax-advantaged car financing and the government estimated that there are approximately 320,000 drivers in Australia who are currently salary sacrificing a car. “Even if you use your car exclusively for private purposes, the government gives you an 80% concession on the FBT. It’s a significant benefit,” explains Bill Baker from   novatedleasing.com.au . “Whe...
Post a Comment
Read more