Several websites towards giving you quotations and offers towards financial matters like insurance, credit cards, and even loans have made everyone enabled to get the best deals possible. Websites like eCompareMo, GoBear, and MoneyMax deliver similar services and ultimately delivers a convenient quotation to getting a policy in just contact window as compared to approaching all companies separately. But unfortunately, I just learned that my experience recently with my car insurance via eCompareMo Philippines wasn’t the best deal at all.
I recently got a new insurance policy via eCompareMo for my Honda Civic 2017 for the 2nd year of my vehicle. I opted to try out the website since my previous insurance (Malayan) was too expensive, I visited their website and got a quotation that arrived 2 days after.
Overall, it was around Php4,000 pesos more affordable than my current Malayan Insurance quotation with even bigger coverage for property damage and even bodily injury. Maximizing my negotiation with the eCompareMo, I tried to negotiate for lower costs and even an installment option.
I was presented with two other insurance companies with similar pricing, but the more affordable one was from FPG. But I was turned off due to the feedback I got online when searching more about the company.
All is well, I finally got my policy and even availed 4 months installment via post-dated cheques. Where a few weeks later, I saw an advertisement for MoneyMax.ph about the same service and even claiming saving Php5,000. Just out of curiosity, I punched the same data as to my current insurance and got disappointed.
As you can see in the quotes above, I was able to get a quotation from MoneyMax PH in real-time, adjustable, and even cheaper than my current policy that I got from eCompareMo that I got in 2 days.
The difference in price is Php4,160.34 and looking at the overall policy summary of both, the only benefit of the one from eCompareMo is the payable in 4 months instead of 3 months with MoneyMax. Overall, I was disappointed since I could have saved around 8 thousand pesos instead of 4 if I could have researched more.
But…no use crying over spilled milk now since I already availed with the one from eCompareMo and I’m stuck with the policy for 12 months. But I learned my lesson with this one, and it’s savings that could have bought me a new pair of sneakers or even gas money.
So next time you’re in the hunt for an insurance policy, I suggest go for websites that can give a summary and cost without the need for agents. These are websites like GoBear, iMoneyPH and MoneyMaxPH based on my research, while still consult with eCompareMo.com to get a full comparison of prices.