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.
|Table||Current Insurance||Competitor A||Competitor B||Competitor C|
|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.