A lot of people assume that by telling an insurance provider your premium you are at a disadvantage. The truth is the opposite is true. 

If you tell a good insurance provider your premium they should pretty much know straight away whether the premium is too high, too low or about right. Armed with this information they could give you an immediate indication if they can get a lower premium. If they know they can't they can tell you and save you time.

Another reason you should tell the person if they ask your premium is because the sometimes insurance companies won't give you the best price unless they have something to beat. if you dont give your broker or company a price to beat, the chances are you won't get the best premium. However, if you do tell them, they can use this information when dealing with the insurance company which ultimately can save you money.

One final tip on this matter is, don't be tempted to make up a price. For example, Mr Tan is looking for  private motor  Insurance and he has a best price of $2,500.00. He thinks its too much money so when asked the magic question of Whats the best price you've had so far? he decides to go in low at $1500.00. By doing this most companies will know the price seems low and many won't even provide a quote. Whereas had Mr Tan been up front and said $2500.00 there is every chance he could have saved some money.

Therefore the secret is to be totally honest when looking for Insurance as its the best way to make sure you get the best premium. Give it a go and get a quotation from us now …it really works.

Source: Motor Trade Insurance Secrets