Home>Discussions>YOUR HOME>Money-Saving Ideas>Advice about changing insurance providers
10 posts / 0 new
Last post
CPatt
Advice about changing insurance providers

When our home insurance policy was renewed last time the rates went up a good 5%, but there was a lot going on at the time and I never got round to doing anything about it. I really don't want the same to happen again so want to change it before the next renewal but do I have to wait until renewal to change providers?
I've no idea how long it'll take, or where to start. I think this kind of thing http://www.homeinsuroffers.com lets you get quotes, anyone in particular I should be looking out for?

dj1
Re: Advice about changing insurance providers

Insurance companies are the first ones to keep up with inflation, that means, they build in annual increases. Add unexpected disasters, even thousands of miles away - and you get a higher bill when you renew.

Loyalty or no claims means nothing to them. They just work on margins, and they get their cut. They make sure they never lose. That's why denying claims is their game.

You do your research before your due date. Good luck.

A. Spruce
Re: Advice about changing insurance providers

You should shop all your insurance (home, vehicle, etc. ) every year or other year, to make sure that you're getting the best rates for your needs.

Don
Re: Advice about changing insurance providers

Call your present provider and ask if they recommend anything to lower your rate. add cars? decrease deductibles? etc?

Then, go to a local broker who represents many companies...

dj1
Re: Advice about changing insurance providers

Why is it so important to compare policies: case in point demonstrates why:

Two weeks ago I got a notice of renewal for my homeowner's insurance, and it's about 10% higher than last year's policy. Immediately I called another company, who came back at 15% lower, for the same coverage (apples to apples).

I called my insurance company's agent and told him about the lower quote. He said he would be back with me. Two weeks have passed and he hasn't. I think that it's really strange and irresponsible to let a good (no claims ever) customer go. If this is how he doesn't return calls about pricing, imagine how he would return calls if I had a disaster.

At any event, I'm switching.

HoustonRemodeler
Re: Advice about changing insurance providers

I shop every year and let the current policy issuer know it. I have found if you do nothing, rates slowly climb on their own. Many times not-so-slowly.

Fencepost
Re: Advice about changing insurance providers

You can switch providers at any time. When you cancel your existing policy, you will get a prorated refund for any premium already paid.

CPatt
Re: Advice about changing insurance providers

Thanks for the advice! Looks like I need to do a lot more research before I sign up to anything...back to the Internet it is!

huberhouse1886
Re: Advice about changing insurance providers

There was a lot of good advice. I have been one to be loyal and not change carriers often, but the advice to shop around regularly is correct. I like to watch the ratings of financial security and customer satisfaction, but my house insurance is by a smaller insurance company. Find a good agent that is a free agent to quote multiple companies.

alan
Re: Advice about changing insurance providers

thanks all for the good advices. I faced with similar issue

Sponsored Stories

TV Listings

Find TV listings for This Old House and Ask This Old House in your area.