What to Know Before You Compare Financial Products

If you are considering any borrowing then you need to know a couple of things before you go putting pen to paper.

The APR for Financial Product Comparisons
A company will always claim that the APR that they have placed on a product is inclusive of all the costs; it never is. There are always going to be hidden extras and the sooner you realise this the better. Financial institutions use clever wording and other underhanded techniques in order to make a product look more favourable than it actually is.

As aforementioned they will always say that everything has been considered so that a customer can look at their product and compare it to similar products being offered by other companies. They never include everything, and by the time you have been charged for the likes of insurance and administration, and only brief you about it in the fine-print when the contract is sent out to be signed.

The Credit Score Issue
There are always nice big banners everywhere advertising this irresistible APR and it is only natural for people to assume that this APR is applicable to all and sundry. The truth is though that people who benefit for such rates are those that have a coruscating credit record.

Good for you if you do have an immaculate credit rating as you can get these deals, but for the people that have made the mistake of perhaps making one late payment it is a case of having to get a product with a far less favourable APR attached to it. You see this is the trick that the banks like to play. They get people interested and in their typically insidious, insipid manner, they turn a good deal into a not so good deal. people think ‘Oh well now I’m here I might as well…’

Make sure if you are about to get sucked into the ‘ostensibly good APR on a product’ vortex, that you speak to a person from the financial institution and you find out what the actual cost of a policy is going to be once they have actually added everything up and charged you what they had every intention of charging you in the first instance.

Compare Cheap Car Insurance Quotes – You Could Be Wasting Hundreds of Dollars Each Month

Have you ever wondered why most people don’t compare cheap car insurance quotes? Some people chose their insurance companies by asking family or friends for their company’s name. Other chose their insurance by going with the highly advertised names they heard on TV or the radio. But when asked if they ever compare car insurance quotes, many individuals just give you a weird look like you asked them something strange or ridiculous.

Many have been with their insurance brokers for so long they’ve become close friends. Others will tell you they never speak to the same broker twice because the company is so large they don’t get personal service anymore. It’s come to the point where receiving a letter or bill in the mail is the only correspondence we get from our insurance companies. Think about it folks, when was the last time you received a call or letter from your insurance broker letting you know that your rates were going to be lowered because you’ve been driving well this year? OK, stop laughing I was just trying to make a point.

Nowadays, anyone can go online and compare cheap car insurance quotes before deciding on which company to buy insurance from. It’s no longer necessary to pay the same rates every year without any chance of having your rates lowered. Why do insurance companies raise our rates the first chance they get? My insurance was raised after having a 10 year clean record because I was involved in an auto accident that was proven to be the other guys fault. It was explained to me that my rates went up because I was now considered to be a high risk. Well, I immediately asked where my discount was for my past 10 years of safe driving. You guessed right; the phone went quiet and I was put on hold to speak with a supervisor. After that experience, I found out that many online services would offer me a number of different rates from various insurance companies making it much easier and faster for me to make my decision for buying insurance for my car.

It’s time for all of us to wise up and decide to compare cheap car insurance quotes from other companies. Getting the best rates is now a choice we can make by educating ourselves on which companies are offering the lowest rates in our area for the year and specific model car we drive. Don’t be fooled into thinking that dealing with large national insurance companies will get you automatic discounts and the lowest rates because they have so many customers.

Save Money by Comparing Cheap Car Insurance Quotes Online

If you love comparing cheap car insurance quotes online, raise your hand.

Okay, now that we have that out of the way let’s get to the real brass tacks. There are very few drivers who actually enjoy the process of assembling car insurance quotes and comparing them side-by-side. Yet at the same time, if you expect to get the best deal possible it is an absolute requirement. Simply believing the television announcer talking about how much you can save is not going to cut it. You need to do the work necessary to get the best price possible.

To get started, use a free quote tool like the one found on this website. Just enter your ZIP code and any other information it asks for, then sit back and wait for your results. It won’t be long before you have a list of companies you can begin comparing. While you’re sitting here, click on a couple of direct links that will take you to some of the most well-known car insurance companies, then fill out their quote forms as well.

Time to Compare

Some insurance companies will provide a full quote online while others would prefer to call and talk to you first. Either way, once you have three or four quotes in hand it’s time to sit down and compare them. The first thing you’ll want to look at is minimum liability coverage.

Minimum liability is a requirement in all 50 states so there’s no way of getting around it. You’ll probably find that among all the companies you’re comparing the rates for minimum liability are approximately the same. The only exception might be a policy that includes higher limits than what is mandated by law. If you don’t know what’s required by your state you can find that information online

After you get past the minimum liability you’ll then be looking at extra coverage’s such as collision insurance, comprehensive insurance, and gap coverage. Be sure to look at the limits and deductibles for each type of coverage. You might even do a cost-to-benefit ratio based on your annual deductibles.

Consider What You’re Willing to Lose

Finally, once you’ve crunched all the numbers in your comparison, consider how much financial risk you’re willing to assume. The last part of this equation usually is the kicker for most people in deciding the best policy for them. If you’re willing to lose a significant portion of the value of your car you might consider the cheapest policy with the least coverage. On the other hand, if you’re not willing to take a significant financial risk you’ll probably choose the most comprehensive policy with the highest price tag.

This is how comparing cheap car insurance quotes online works. It’s not a difficult process by any stretch of imagination, but it does require willingness on your part to go through the paperwork and run the numbers — regardless of how tedious it might be.

Tips For Marketing Financial Products

Marketing of financial products has to be carefully planned and executed in order to avoid mistakes that can be costly and hard to recover from. With heavy competition, financial institutions have to be aware of the current market trends and must keep informing their clients about their latest service or products to make sure that their clients use them.

If marketing of financial products or services are excellent, the firm is ensured of guaranteed, quality financial planning leads as well as better referral service from affiliates. It is necessary to have a sound, carefully planned marketing strategy in order to recruit more customers, generating more revenue. This calls for extensive market research and competitive analysis and knowing how to lure customers by sending out the right message in the advertisements. It is a pity that many people do not understand the importance of marketing of financial products and, therefore, misses many opportunities to develop and expand their client base.

Marketing Tips For Financial Products:

– Referral services by affiliate service providers are very effective and a highly targeted market-oriented marketing strategy. It is necessary to have a system in place to respond to the queries of those potential clients who were referred and have follow-up services that can convert potential leads into actual customers.

– Direct mailing is another tactic that is relatively cheap and can be used to reach target markets of your choice. The job can be out-sourced, and your operating costs are well within the budget. It can also be effective in recruiting potential customers easily.

– Cold calling is another marketing strategy, but it is not used much owing to the enormous drain on time and labor as well as costs and low rate of new customer recruitment.

– Offering items having your brand identity serves to remind existing customers as well as those you deal with on a regular basis about your financial services as well as products. Post-it note pads, pens, coffee mugs, key chains, pen torches, etc., are items that are generally used as promotional items.

– Using the media to effectively advertise your products. The TV, radio, newspaper, magazines, cinemas, etc., are very good sources for targeting your advertisements. Keep your advertisements short and make sure they tell people how they can benefit from using your services or products.

– Getting celebrities to endorse the product or service is another effective marketing tip.

– Sponsoring events can be another great way to market your products and creating awareness of your products.

– Using permission-based email marketing, free newsletters, pop-up advertisements, and keyword-optimized search engine options are other ways that financial products can be marketed using the Internet.

These are a few marketing tips for financial products. There are firms that offer services as well as products to help run your business successfully.