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Forum topic by Wood_smith posted 868 days ago 852 views 0 times favorited 15 replies Add to Favorites Watch
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Wood_smith

251 posts in 1622 days


868 days ago

It’s nice to be able to support local (PEI) business… BUT… last year I paid my usual insurance company $250 for a three-day liability policy for a trade show (after quoting me $200!).
This year, I went with an Ontario company. For the same policy, I paid $108. What would you do?

-- Lloyd Kerry; creator of the Kerry-All Pouch, http://www.kerrywoodworking.com


15 replies so far

View Gene Howe's profile

Gene Howe

5379 posts in 2025 days


#1 posted 868 days ago

Move to Ontario?
Seriously, for that much of a difference there’s no question where to buy.

-- Gene 'The true soldier fights not because he hates what is in front of him, but because he loves what is behind him.' G. K. Chesterton

View Wood_smith's profile

Wood_smith

251 posts in 1622 days


#2 posted 868 days ago

The most annoying part was I agreed to pay the local company last year the $200 premium. After the show was over, I got a statement with a $50 “policy fee” tacked on. I argued with my insurance company saying they never mentioned that before I accepted the policy. Too bad, was basically what they said.

-- Lloyd Kerry; creator of the Kerry-All Pouch, http://www.kerrywoodworking.com

View canadianchips's profile

canadianchips

1831 posts in 1594 days


#3 posted 868 days ago

As long as you are comparing APPLES with APPLES and ORANGES with ORANGES.Go with the lower one. Just make sure you are covered, some FINE places in Ontario offer cheaper, then you need to add extra’s because, OH you want “ALL THAT”.Been living here for 4 years now, seeing a lot of scams.

-- "My mission in life - make everyone smile !"

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Wood_smith

251 posts in 1622 days


#4 posted 868 days ago

Both policies were for a three-day trade show- and my booth was set up exactly the same both times.

-- Lloyd Kerry; creator of the Kerry-All Pouch, http://www.kerrywoodworking.com

View Peter Oxley's profile

Peter Oxley

1426 posts in 2471 days


#5 posted 868 days ago

Depending on my relationship with the company, I’ll pay 10-20% more to support local. At some point, you have to say “enough is enough”.

-- http://www.peteroxley.com -- http://north40studios.etsy.com --

View Fred Hargis's profile

Fred Hargis

1642 posts in 1090 days


#6 posted 867 days ago

There really isn’t a question here, IMHO. That much difference in price makes it a no-brainer.

-- I long for the days when Coke was a cola, and a joint was a bad place to be (Merle Haggard)

View Tennessee's profile

Tennessee

1447 posts in 1111 days


#7 posted 867 days ago

Hey, I walked into my local Woodcraft, and saw a beautiful piece of African Mahogany that was a bit overpriced. They know me pretty well, and with a 10% discount, I bought it, thinking how pretty a couple guitars will look with this wood.
The next day I was at a hardwood company here in Tennessee that I thought only sold domestics, and there before me was a skid of beautiful African Mahogany for half the price I paid Woodcraft, as well as most of the other exotics I use in my guitars, for about 50 to 60% less.
Goodbye Woodcraft, hello domestic hardwood guy with some exotics…

In this economy, if you can AFFORD to support your locals, do it. Otherwise, let them figure out how to compete with the rest of the world, like you have to do!

-- Paul, Tennessee, http://www.tsunamiguitars.com

View Dan's profile

Dan

3543 posts in 1477 days


#8 posted 867 days ago

I am in the insurance business and I will give you my thoughts on your situation. Many insurance agents/agencies do not like writing those short few day liability policies. There is usually a lot of paper work involved and its such a small premium that the commission paid to the agent is not much.

My opinion/thought is that your local insurance agent did the policy for you and then charged the 50 dollar service fee for their troubles. The agent probably got a very small amount of commission for the policy so to make up for it they added the service fee. Thats just a hunch though.

There are what you would call Special Lines companies out there that specialize in these types of policies. These companies will usually be cheaper then the local place because these places focus only on a certain type of policy. With the special lines companies there usually is no agent as the middle man so thats why they can offer the product for cheaper.

-- Dan - "Collector of Hand Planes"

View Wood_smith's profile

Wood_smith

251 posts in 1622 days


#9 posted 867 days ago

There may be some truth in what you say. Another local firm, that I didn’t bother to mention in my original post quoted me $188, but not until after I paid the $250.

-- Lloyd Kerry; creator of the Kerry-All Pouch, http://www.kerrywoodworking.com

View Puzzleman's profile

Puzzleman

327 posts in 1541 days


#10 posted 867 days ago

Lloyd, I have had a similar situation happen to me. I talked with my local and current sales agent and asked them why theirs was so much more. I had brought a copy of the other policy with me for him to see. He suggested I go with the other company as he could not come close to their price. I also let him know that I was going to give him a chance at the business but it has to be in the ballpark.

By the way, I still do some business with him still. I appreciated his honesty.

-- Jim Beachler, Chief Puzzler, http://www.hollowwoodworks.com

View Wood_smith's profile

Wood_smith

251 posts in 1622 days


#11 posted 867 days ago

Good point puzzleman. I still have my home and auto with my original company.

-- Lloyd Kerry; creator of the Kerry-All Pouch, http://www.kerrywoodworking.com

View NBeener's profile

NBeener

4806 posts in 1771 days


#12 posted 867 days ago

Buying local can be a VERY complicated philosophy, and very expensive.

Just like “being green.”

Everybody has to find their own line in the sand, IMHO, and … stay with it about as well as they can.

-- -- Neil

View Charlie's profile

Charlie

1001 posts in 883 days


#13 posted 867 days ago

My philosophy is to support local business to the best of my ability and pocketbook. If there’s a large price disparity I ask them about it without sounding like I’m haggling. Most places appreciate knowing their competition. If I’m going to go elsewhere because of price, I’ll let the local guy know, but I also go back and give those same businesses OTHER business. I’m also one of those who will pay a bit more to support a local business. If the price disparity is too great though, I go elsewhere with no hard feelings either way.

NBeener, you’re right. It’s complicated. It’s only expensive if you adhere to it blindly and rigidly.

View Bill White's profile

Bill White

3342 posts in 2557 days


#14 posted 867 days ago

Nobody’s gonna watch your back. That’s a fact of life, so you’ll have to get brutal. It is YOUR MONEY. Get nasty if ya have to. I’ve been taken in too many times by “friends and family, long time customer” crap. Do I sound cynical? Oh well…....
Bought a car lately? All the add-on “doc” fees? Tell ‘em to bite it.
Now I feel better.
Bill

-- bill@magraphics.us

View KMT's profile

KMT

591 posts in 1259 days


#15 posted 867 days ago

Bill, Oh yeah, doc fees, what a money grab that is. I left a $30,000 pickup on the lot and went and bought out of town over a $475.00 doc fee. $475.00 !!!! Doc fee?

-- - Martin

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