How I Almost Saved $300 In Under 10 Mins

By | February 7, 2019

Ok so the title might be a little click-baity but I do have a couple savings to share with you. I think all of you will like it.

So today, while at work, I received an email on my personal email address. It was from my bank (let’s call them Bank 2) and I thought it was important so I opened the email. To my surprise they were offering a discount to their “loyal” customers for home and content insurance. I thought great, I’ll take a look at their quote and see if I can do better.

Currently, I pay $74.24 a month (Bank 1) for my home and content insurance (house replacement insurance is expensive in Australia!) After taking a 5 minute quote test on Bank 2’s site, it turns out they were willing to insure me for $53.74 a month. This was a like-for-like policy. Same excess, same cover cost and overall a very similar policy. So what did I decide to do? I called my insurer (Bank 1) to tell them about my amazing savings offer.

I called my current insurer, Bank 1, and told them I was able to get a significant discount on my current monthly insurance. The nice bloke on the other end (Kevin) asked for some more details, I told him the exact details, like-for-like policy and told him the price they gave me. I simply asked “are you guys able to do any better than that for me?” He asked me to be put on hold and I agreed. He came back within a few minutes and told me he was now able to do $53.16, slightly cheaper than Bank 2’s quote and also saves me the hassle of all paperwork signing.

Overall, I was able to save $21.11 a month or $253.32 a year on my home and contents insurance…. all in a matter of a 7 minute phone call!

I was on a roll, so I decided to take a look at my phone plan. I currently pay $35 a month for a sim only plan and get unlimited calls and texts within Australia and 15Gb of data. I was able to go online and get a better deal with the same company for $31.50 a month getting the unlimited plan and getting 30Gb a month. Excellent saving again. Saving me $3.50 a month or saving $42.00 a year.

Overall, I have saved $295.32 in savings from making a 7 minute phone call and checking something online for a couple minutes. At my current yield of my dividend portfolio of 4.84% this would yield me an extra $14.29 in forward dividend income, so as you can see, every little bit helps!

2 thoughts on “How I Almost Saved $300 In Under 10 Mins

  1. DivvyDad

    Great job, it’s always nice to save some money on those recurring expenses. I do this annually for my internet and TV providers, but really need to include our insurance provider as well (both home and car insurance).

    Reply

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