Online policies vs brokers

Just now while watching investors guide there was a discussion about buying online vs brokers.

Their analysis showed that one could get an policy 40% cheaper online vs offline.

This is true to a very large extent . However, my recent experience is a little different . While trying to get a insurance for my car, a broker had come to my house and offered me a particular rate.

I knew that I should check my policy online and compare it with these prices. When I did that I was surprised to find that he was offering me lower premium than the online version.

When I asked him as to the reason , I understood that he already knew what the online premium was for me and to get my business he was giving me some of his discount.

So, what should we do

Two rules to follow
1. Always check the online policy rates
2. Ask the broker to match or reduce the prices further

Happy investing !

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