I’ve had the same insurance company since I was 16. Now that I’ve been driving far longer than I haven’t in this life, I thought it was high time to figure out if I could save some money on car insurance rates.
My wife and I have excellent driving records so I had just sort of assumed that I was getting a good rate – after all, why would my insurance company want to stick to a loyal customer like me right? Wrong! It's not so much that they were taking advantage of me, they were simply taking advantage of most people's reluctance to drudge out the paperwork, size up the policies, and shop around.
Insurance is a business and in business, competition is good. Turns out shopping around was not that hard to do. The policies are fairly standard from one carrier to another from what I could tell so doing an apples to apples comparison wasn't that difficult.
For some reason, I just assumed that switching auto insurance companies was not worth the trouble. How wrong was I?! My old six month premium on two cars was $1001 or $2002 per year. My new six month premium on two cars is $718.00 for a total car insurance annual outlay of $1436.00 – an annual savings of $440.00 per year!
For very little effort on my part, I’m now going to have some serious extra money.
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