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Daily Links: Money Saving Tips Edition Print
Friday, 20th June 2008 (by J.D.)This article is about Spare Change
Remember my fender-bender with a rental car back in March? All of the paperwork finally went through and my insurance — both from the credit card and my normal automobile policy — will cover everything without me having to pay a dime. My insurance premium didn’t even increase (though it still may this autumn).
However, this whole process has been a colossal pain in the ass. It’s been such a bother that I may actually consider taking out the agency’s insurance next time I rent a car. Unfrugal? Perhaps. But a fellow’s got to figure his time is worth something.
Here are some personal finance stories from around the web:
While doing research for an upcoming article on grocery shopping, I found an old post at Wise Bread that offers tips for perimeter perusing at Target. Apparently Target stores have a regular system for putting stuff on sale. Savvy shoppers have deciphered the “code”, and know how to find secret deals. Linsey Knerl shares what she knows.
Eric recently pointed me to Retirement Revolution, a PBS segment on the history and future of retirement saving. I haven’t had time to watch this yet — did anyone else get a chance to see it?
Finally, Melinda submitted a site called Rather Be Shopping. She writes: “With the ridiculous gas costs, I am doing a lot more shopping online and found this site to have good coupons for free shipping and dollar-off deals. Plus, Kyle’s blog is hilarious and informative.” Ha! I’m amused because Kyle uses the same “frugality in practice” title headings that I do…
June 20th, 2008 at 8:33 pm
Thanks for the link to Wise Bread. I love shopping at Target and especially if I can get a great deal.
June 21st, 2008 at 2:38 am
JD, you might want to consider getting a Diners Club just for renting cars. They provide PRIMARY rental car insurance, which means nothing goes through on your personal policy and they handle all the paperwork.
I consider the $90 annual fee to be my annual rental car insurance premium.
June 21st, 2008 at 6:05 am
I always pay for the damage waiver when I rent cars. I know everyone says it’s unnecessary, but I agree with you - the $11 a day or whatever it costs is way cheaper than my time sorting out their claim process.
I had one work project where I rented a car each week for 5 months, and over that time I had a flat tire, a cracked windshield, and someone t-boned me in the parking lot. Each time I just dropped off the car and keys - no problem.
I just have the feeling that those car rental co.’s try to screw you when stuff like that happens - delay, lie about damages, etc. So in that sense, the damage waiver’s more like a protection racket - you pay them a small fee up front to prevent them from screwing you around later.
Oh well.
June 21st, 2008 at 7:09 am
Thnaks for the tip on shopping at Target. That was worth the price of admission.
June 21st, 2008 at 7:29 am
The ’sale’ tag for Target is a little misleading… And it’s far more wide spread than just Target in the retail world.
This is the normal clearance markdown schedule for the departments within the store. What is actually happening here is that something is going on clearance (generally 50 to 75% off). The price becomes active when the store opens/midnight – but the pricing crew needs to attach the tags yet sometime during that day. As a result it is possible to find items that haven’t been marked as clearance yet.
This same issue can be found in just about all retail stores, but as far as I know Target is the only one to have set dates for each department when items are marked down – as a result it dramatically narrows the search down for where to look.
June 21st, 2008 at 7:57 pm
Thanks for the link! I appreciate you sharing the Target tips with your readers. I have also been meaning to catch the PBS special, so thanks for reminding me!
Linsey Knerl
Wise Bread
June 22nd, 2008 at 10:05 am
In December 2005, my wife was driving a rental car and got hit from behind at a stoplight by some illegal aliens in a “throwaway” car. They ran away without even seeing if she was OK. The airbag kept her safe, though, just shock and some bruising. The car was totaled, however. Happily, we had purchased the rental company’s insurance. It was nice just to call the company,(Enterprise) tell them what happened, and let them take care of the rest. There was no further hassle on my part, and I still rent from them on a semi-regular basis. You might think it’s a waste of money, but when something like that does happen, it’s worth it not to have to deal with the problem.
June 22nd, 2008 at 10:18 am
The PBS special “Retirement Revolution” is fantastic. It is a very eye-opening depiction of the state of many americans’ retirement plans and savings, and has a lot of compelling history and anecdotes detailing the evolution of our retirement ideals, plans, and government programs as a nation. I highly recommend watching the entire thing as it really shows that while many people are prepared for old age, a great many more have been living with their head in the sand and are just starting to wake up to reality.
June 22nd, 2008 at 7:40 pm
AmEx has a “Premium Car Rental Protection” plan that provides primary insurance on rentals too. If you sign up for it, when you charge a rental car to your card they automatically bill you for the coverage for that rental, which is usually cheaper than the secondary coverage that the rental agencies offer. Potentially useful also if you don’t have a car & associated primary insurance policy.
June 23rd, 2008 at 7:32 am
Can you do a post of what your insurance company covered, what your credit card company covered, and what the hassles were that you had to go through? I’d love more details since my husband always rejects the insurance and it makes me nervous!
June 23rd, 2008 at 8:34 am
I second Becky’s request for more detail into your rental ordeal. After contacting my auto insurance company, they told me that getting the damage waiver from the rental car company is better safe than sorry. Usually your auto policy will cover liability fine, but the rental company often feels that the $$$ damage is more than the auto insurance is willing to pay out, leaving you short.
I am all for getting the damage waiver because it gives me piece of mind, although I hate paying extra!
June 23rd, 2008 at 8:41 am
J.D., thanks for the mention of Rather-Be-Shopping.com and thanks Melinda for the recommendation!