STAR INSURANCE TAKES ON THE IRON TRIANGLE

Owners of classic cars naturally want the best protection for their pride and joy. When it comes to choosing the best insurance, most companies provide the basics like good backing and adequate security ratings. So how then do you decide which to choose?

Traditionally, when buying any service like insurance, you have three options — value, service, and price — but can combine only two of the three. This approach originates from what is known as the ‘iron triangle’ (or ‘project-management triangle’) theory from the 1950s.

The triangle’s three key points are: good, fast, and cheap. You can have any two of these but never all three. There’s always a trade-off. Cheap + fast = lower quality; fast + good = expensive; and good + cheap = you will be waiting. Choosing which two comes down to your priorities. Let’s look at how this relates to buying insurance.

Value (Good)

This can be something you were not expecting but it’s there and it’s valuable and its useful. Insurance policies from Star Insurance Specialists include the widest range of additional, value-added benefits.

Service (Fast)

Star has always been focused on service because this is a fast track to customer happiness, which is the company’s ultimate goal. It provides self-service options online but prefers human interaction to provide tailored insurance to fit each customer’s specific needs.

Price (Cheap)

Normally, if price ultimately determines your decision, you would miss out on one of the previous two benefits. Fortunately, Star’s insurance premiums beat market averages because Star recognizes that price is important to its customers.

Star will always focus on providing great value and service. Fortunately, its prices mean it outsmarts the iron-triangle approach and its competitors to provide three for three for its customers.