Ever had one of those insurance companies that is just a pain to work with and it seems like they're always raising your rates every 6 months? No biggy. Leave them for someone else. If you can't here's a great way to make them pay you back for some of what it costs you each month.
When you send in your bill, overpay it by 5-15 cents. What this will do is since their accounting is setup in such a way that they can't keep the extra money and carry it over till the next months payment, it now requires them to not only process your payment, but they now have to go to all the trouble of having someone make up a check, package it, and ship it off to you. Even if all of it is automated, it's still going to cost them at least $2 per person to do this, and in some rare cases, it can cost them upwards to $50 per person to return just a few pennies to you. Now, when you get that check back, go down to the bank and cash it. That will cost them more money to process the check, an average of 20 cents a check depending on the bank. So all in total, they may raise your rates $30, but if all works in your favor and against the insurance company, they won't get to keep a dime of it. Sure, it's not in your pocket, but then again, it's not in theirs either.
When you send in your bill, overpay it by 5-15 cents. What this will do is since their accounting is setup in such a way that they can't keep the extra money and carry it over till the next months payment, it now requires them to not only process your payment, but they now have to go to all the trouble of having someone make up a check, package it, and ship it off to you. Even if all of it is automated, it's still going to cost them at least $2 per person to do this, and in some rare cases, it can cost them upwards to $50 per person to return just a few pennies to you. Now, when you get that check back, go down to the bank and cash it. That will cost them more money to process the check, an average of 20 cents a check depending on the bank. So all in total, they may raise your rates $30, but if all works in your favor and against the insurance company, they won't get to keep a dime of it. Sure, it's not in your pocket, but then again, it's not in theirs either.
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