Perhaps it seemed like a good idea at the time. In 2008, gas prices were skyrocketing taking almost a daily increase moving right past the $3/gallon mark at the beginning of the year and headed to the $4/gallon by the middle of the year. One auto maker had a plan and a promotion to match the hysteria.
If you bought a new car, they would guarantee $2.99/gallon gas for up to three years. It sounds crazy now, but at the time, it looked like a huge blunder by the auto maker, not the consumer. The feeling at the time was that there was no end in sight to the gas crunch.
I remember being at a party with someone who had bought a car based on this program and listening to a friend chide him in late October about the offer. With a sly smile he quizzed, “So, are you still having to pay $2.99/gallon?” By this time, the market had stabilized and gas was well below $2.99/gallon and quickly headed below $2/gallon. Any “savings” had long since been negated due to a change in the market.
While insurance markets don’t tend to change as quickly as the gas and oil markets, it should be noted that what may have worked for you a few years ago may not be the best option for your current situation. Our job is to make sure your insurance program matches your current situation. For this very reason, we work with different companies, so we can find a company that fits your current needs and offer other solutions as your needs change.