I don’t want to kick the hornets nest here, and this isn’t broker speak, so do with it what you will…
1. You should not compare insurance based on price. Price is not going to help you in a claim, it’s not going to help you with the fine print. Cheap usually means nasty - nasty claims. Nasty service.
2. Don’t compare your cost to others. Insurance is now so granular when it comes to cost, your house address can impact the cost of insurance.
3. If you can’t afford $2k to insure your $60k+ vehicle, you can’t afford to drive that vehicle
4. You will eventually need to claim on insurance. May not be this year, may not be next year, but you will eventually be calling to claim.
5. Nobody cares about the cost of insurance when it comes time to claim. All they care about is they are insured and they are insured correctly.
I have taken on a significant number of distressed clients who have insured with direct insurers, because they have failed to recognise the above points.
I’m a broker with access to discounts etc and my insurance is $1,800. I wanted a policy which was right for my situation, with an insurer I knew wouldn’t try to shaft me at every turn.