We help you see beyond the lowest bid
When bidding on a new plan or one that is being re-quoted, insurers will often include a marketing discount in the first year’s premium quote. So the initial bids may not reflect the long term costs of using a particular insurance company.
Read on to learn why.
All insurers margin their cost experience for an individual client to calculate plan premiums. Some firms aim to make 25 percent on costs; others work on higher margins, some as high as 35 percent.
Insurers working on higher margins have more money to fund marketing discounts. So their initial quote may be lower, but their ongoing pricing is likely to be higher, compared to their competitors.
JP Bascom Insurance knows the pricing structures of the major insurance companies. We will provide a quote comparison that includes both the initial premium and the likely premiums over the coming 2-3 years. That lets you make an informed decision.
