Shopping around for auto insurance: Found $1,715 in annual savings!

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by taxable_efficiency

I stayed with the same insurance company for auto since 2007. I added my wife to the policy when we got married in 2013, and then added a policy for our home in 2014. I noticed that the premiums were always trending up, as though there was no benefit for being a loyal customer. I finally put in the effort to shop around and found better deals for THE EXACT SAME or BETTER COVERAGE.

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Table Current Insurance Competitor A Competitor B Competitor C
Annual Car $4,100 $3,526 $2,548 $3,404
Annual Home $1,362 $1,033 $1,199 $792
Total Annual Cost $5,462 $4,559 $3,747 $4,196
Annual Amount Saved $0 $903 $1,715 $1,266

I’m not sure if it’s against the rules to post the names of the companies or not so I left them out. After finding the potential for savings I posted to local social media asking “Anyone have any good or bad experience with claims from Company B?” and am waiting for some feedback before I move my policies over. That said, I’m sad I didn’t look into this sooner, and look forward to getting into this habit every 3-5 years.

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