New Website, Gabi.com, Helps Find Cheaper Insurance – We Test It Out
Shopping for insurance stinks. It’s complicated, time consuming and typically something many of us avoid. A new website wants to change that. Gabi.com promises to take your existing plan and compare it with other options, finding you the best deal possible. We took it for a test.
The process of using Gabi is pretty straightforward. I signed up, added my login information for my existing insurance providers and Gabi went to work. To my surprise, Gabi came back and told me that I already had the best deal! I thought this was weird but when I talked with the founder of Gabi he told me that’s pretty common.
“It happens in like 1/3 of the cases that we tell people they already have the cheapest coverage and then we keep monitoring and for the next renewal we try to find a cheaper price. For the other 2/3 we usually find about $500 in savings,” explained Founder/CEO Hanno Fichtner.
He said after your initial check the system will then continue checking for new quotes. The goal is to eventually find you a better deal. He also promised that Gabi won’t spam you. In fact, they aim to avoid that. He told me they purposely put all of your quotes into a single e-mail and avoid constant e-mails.
What about privacy?
Gabi says they follow privacy and data collection laws but Fichtner also told me they don’t sell your info to any third parties. This is important because some price comparison sites do and you’ll get dozens of e-mails and phone calls from other companies after you sign up. He promises that won’t happen with Gabi. It’s only been about a week since I tested Gabi myself but so far, so good.
I asked the folks at Gabi to give me some details about insurance specifically in Colorado. They told me that our state is pretty average when it comes to insurance prices but they do see an increase from last year. They say that the increase is likely due to some recent damaging hail storms in Colorado. They also pointed out that the difference between the lowest quote and highest quote was 90% in Colorado. This means that you really need to shop around before you buy insurance.
If it’s free – how do they make money?
I asked the founder how they make money and he explained that they money from referrals when you sign up for a new insurance plan. He did tell me that not all providers pay them referral fees but they still always recommend the cheapest option regardless of how much they’ll make on the back-end.
Something to keep in mind
Pay close attention to the details! I had one viewer who said that the site offered her a better price but they also striped some of the coverage from her quote. Pay close attention to all of your coverage details to make sure that you are comparing apples to apples.
I love the idea of Gabi and from my tests, it does exactly what it promises to do. After talking with the founder I feel like they are working hard to help people save money without being a pain in the butt. Less spam and more money in our pockets, I love the concept!
Try it out at Gabi.com. I’d love to hear your thoughts. Hopefully you have a similar experience with Gabi too.AlertMe