A few weeks ago, our CEO Max Cho sat down with Nicholas Crown, entrepreneur, and creator of the viral TikTok series “Rich vs Really Rich”, for his “ The Really Rich Podcast.”
Their conversation covered everything from finance to fixer culture, but one quote captured the Coverage Cat ethos perfectly:
“If you’re buying a plane ticket with Kayak, why are you trying to do this yourself with insurance? Insurance costs you a lot more over your lifetime than a few plane tickets.”
The problem with traditional insurance buying
Insurance is a necessity for most people who buy it—but it’s not always clear how much it costs, let alone what you’re actually buying.
At Coverage Cat, our team has done more than our fair share of getting insurance quotes online, so we understand the frustration. Most people just want to figure out how much their insurance should cost, pay the lowest price, and get the coverage they need.
Yet, when they click on the highest-ranking terms on Google, too often they’re led down a black hole. Sites promise that you’ll get to compare prices, only to keep pushing you into more and more sites that take your information for lead generation.
Even big insurance companies promise an online quote only to end on a screen telling you that you need to call in — for a sales pitch — to get your price.
Imagine if booking flights worked the same way? You’d never get on a plane again.
Hidden insurance prices put you at risk
More than just a major annoyance, the lack of transparency creates a big risk. Insurance isn’t like plane tickets; it usually costs more over your life and can end up costing you even more if you don’t have insurance or buy the wrong insurance.
Putting prices behind a wall, as well as making consumers frustrated or confused, has huge consequences. It makes it more difficult to buy the right insurance, makes it more likely that you’ll be under or over insured, and even entices people to do risky things to lower their prices ( such as registering their car in the wrong state ).
How Coverage Cat is changing the game
Coverage Cat isn’t just an insurance broker, we’re using data and customizable insurance tools to optimize the insurance-buying process.
We want drivers to know how much insurance should cost (learn more if you live in New York, Texas, or Washington ), and how to fix their insurance.
Even if we can’t sell you an insurance policy, we’re invested in getting you better prices and smarter coverage. Try out our optimization today and learn how we can fix your insurance .
And if you want to hear more, check out the full podcast episode on Youtube, Apple Podcasts, Spotify, or wherever you find your podcasts!
Reviewed by
Max Cho
, Licensed Insurance Broker NPN 20377411
