Who would have thought just picking up the phone could save you hundreds of dollars? Good Housekeeping magazine did some research and found that everything from automobile insurance to property taxes can be negotiated.
Phone Call #1: Your auto insurance company
Check in and see if you can get a low-mileage discount on your policy. Some companies, such as State Farm and Travelers, offer policy holders a discount of 10 to 18 percent if you drive fewer than 7,500 miles per year. One group, Progressive, offers its customers a discount through its MyRate program. You can save up to 25 percent based on the amount of miles you drive and if you are a safe driver.
Phone Call #2: Your credit card company
Reducing your interest rate is a definite possibility. If you have good credit, a low balance and good payment history, you may end up paying less. According to the article, a woman in Texas was able to reduce her rate from 18.99 percent to 12.49 percent. That’s a big savings! If your credit card company won’t work with you, consider switching to a different card.
Phone Call #3: Your cable company
Many providers now offer bundles that include your cable, Internet and phone all in one. That way you aren’t making separate payments each month. My city has Charter and they offer the three services for about $100.
Phone Call #4: Your gas and electric companies
Due to the falling wholesale price of natural gas, some companies are offering lower rates. If you are on a fixed-rate plan, call and see if there is a cheaper fixed plan or a variable plan. Your local electric company may have a load-management program. A free switch could be installed that cycles the AC on and off. Also, they may have lower rates during off-peak hours. Ask the company which plans it offers. It could end up saving you more than $100 per year.
Phone Call #5: Your county tax office
Declining home values may be beneficial to you and lower your property tax. Find out if they are reassessing home values due to declining home prices. A woman in California called her town office and saved $750. All she had to do was provide them with her parcel number. But also make sure you can provide documents such as home sale data for your neighborhood. Saving up to $1,000 can really make a difference.
They may come in bits and pieces, but the money saved by making these phone calls can add up. Times are tough and any extra money in your pocket helps.
September 10th, 2009 at 4:41 pm
Most people would be amazed at what they get if they simply ask. When I was laid off once, I asked my bank if I could defer my car payment for a month and they agreed. It happened another time when my wife was laid off.
Additionally, with the utilities if you let them know that you are considering other providers, they will often make you offers that are not standard. Cable and home telephone are two that normally have multiple options, and in some areas, even electricity is deregulated and you can have more than one provider to choose from.
When is doubt, just ask – you may be surprised at the answer.