Companies are always competing against each other to drag more consumers to their product, they often do this by making their product better, either aesthetically or functionally. They also often start discounting their products so consumers will turn to them to buy basically the same product but cheaper, insurance companies are no different.
Insurance companies are constantly offering discounts on their insurance policies to attract more consumers, one such example is Jubilee Insurance. If you were to join Jubilee Insurance’s Saffron club you’d get free travel insurance, and not to mention a 10% discount on car insurance.
Deals like these attract customers by the boatload and to see why you just have to put yourself in their mind set, there are two insurance companies both have insurance for travel and auto-mobiles but one of them offers travel insurance for free and a 10% discount on auto insurance as long as you join a member ship program, not to mention discounts for a lot of stores and diners. It’s quite obvious which one the masses would choose.
What’s even more ingenious is offering discounts on travel and auto out of all the other insurances. This is because they are arguably the most used, car crashes happen every day and baggage is constantly stolen, cars are stripped down for parts if their parked in the wrong place and flights are delayed or cancelled continuously. To put discounts on such insurances is like putting a discount on an Eminem album, people will instantly be pulled towards it.
The pull of a discount on an insurance is even more than the pull of one on a normal product since insurance premiums aren’t exactly cheap, people are always trying to keep the insurances that they’ve bought to a minimum since too many will easily make you go bankrupt. To see discounts on said insurances is a way for them to afford the safety of insurance without endangering their savings.