If you haven’t called your various providers (cell/insurance) lately and harangued them into lowering your bills, you are probably in position to save hundreds of dollars by doing so.
This morning it took me 1 hour and 8 minutes over 3 phone calls to save $293.94. Below I outline the methods used to get my home/auto insurance and phone bill lowered.
Tires and Phones Save $
My car insurance just renewed with a $1089 annual premium.
I called TD Meloche Monnex and reminded them that I’m a loyal client with no claims and home insurance with them, then asked what they could do for me.
Turns out I qualified for a discount for using winter tires, and was instantly credited 5% for agreeing to participate in their TD MyAdvantage program. This involves downloading an app which tracks my driving behaviour. The app runs in the background and automatically detects driving patterns using GPS and the accelerometer in my phone. I only stand to gain because poor driving won’t increase my premium. However, perfect driving can lower my premium by up to 25% annually (~$250). Both Lia and I need to install the app (since we’re both insured under our policy) for maximum discounts.
All told, this 13 minute phone call resulted in an improved plan (now including 1 at-fault accident forgiven), an instant decrease in premiums by $59 and a potential 20% discount for excellent driving being tracked on the TD MyAdvantage app.
“Times are Tough” at the Client Retention Dept
Every 6 months I call my mobile provider (Wind/Freedom) and immediately ask to be forwarded to the client retention department because I’m thinking of cancelling my cell service.
The line I keep repeating all the way to client retention: “Times are tough, my wife and I simply can’t afford to be paying this much on our phone bills.” I also have a quick peek at other providers to see if there are super cheap signup promos happening. If there are, I’ll refer to these during my call with client retention, just to make them see I’m not fucking around.
Lia and I were paying $84.33/month for our two plans. Freedom agreed to help me out by temporarily reducing my bill to $62.84 for 6 months. That’s $128.94 saved (I’ve done this twice now so it’s $257.88 for the year)
Typical time on the phone is 30 minutes per call, which I make every 6 months. It’s in my calendar.
Home Insurance with TD Meloche Monnex
Lia and I were paying $623/year for home insurance. A 25 minute phone call revealed that I was eligible for a 15% loyalty discount. I also lowered my premiums by asking to increase my deductible from $1000 to $2000.
Once the mortgage is paid, we need to tell TD so our insurance drops by an additional 20% – 30%.
There’s also a Security System Discount of $21/year which we don’t qualify for, but you may.
Total call time = 25 mins
Money saved = $106/year
Go Get Some
Do some calling around and get better rates. To inspire yourself and others, please share your successes in the comments at the bottom.
For more ways to pay far less and earn way more, be sure to check out my Holy Shit Moment wherein Ramit Sethi talks about eating chicken wings like an immigrant.