Curious how everyone handles their home insurance. Do you guys actually compare quotes every year or just auto-renew and hope for the best? I feel like my rate creeps up a little each year, but honestly, I get lazy and just let it roll over. The idea of calling around (or even using those online quote things) feels like such a hassle, but maybe I'm missing out on savings.
Quick poll:
1. Always shop around before renewing
2. Only check if my rate jumps a lot
3. Just stick with the same company, whatever
4. Honestly, I have no idea what I’m paying
I’m probably a #3, but thinking maybe I should be more proactive. Anyone ever found a crazy good deal by switching, or is it mostly just a pain for not much gain?
Only check if my rate jumps a lot
3. Just stick with the same company, whatever
4.
I get where you’re coming from. That yearly rate creep is sneaky—one minute you’re fine, the next you’re wondering why your bill’s jumped 20%. I’m usually a #2, only digging into quotes if my renewal jumps a lot. I’ve switched a couple times, and once I did save a surprising amount, but honestly, it was a bit of a hassle with paperwork and making sure coverage matched up.
That said, I’ve noticed some companies offer “loyalty discounts,” but they rarely offset the slow increases over time. It’s a bit of a gamble—sometimes sticking with the same company is just easier, but I do wonder if we’re all leaving money on the table.
Honestly, I see this all the time with clients—people just stick with what they know, even if it’s costing them. I get it, switching can be a pain, but I’ve seen folks save hundreds just by shopping around every couple years. The loyalty discounts sound good, but in my experience, they’re rarely enough to make up for those sneaky hikes. It’s wild how insurance companies count on us not paying attention. I always tell people: at least get a couple quotes when your renewal comes up. Even if you don’t switch, it gives you some leverage.
Title: Shopping Around Is a Hassle, But Worth It (Usually)
Yeah, I hear you on this. I’ve got a few properties and honestly, I used to just let the insurance auto-renew because I couldn’t be bothered. It’s just one of those things that feels like a chore, and the companies know it. But after getting burned by a “loyalty” rate hike a couple years back—like, a 20% jump out of nowhere—I started paying more attention.
I’ll admit, the process isn’t fun. You’ve got to dig up all your info, fill out a bunch of forms, and then deal with a dozen calls from agents. But every time I’ve actually shopped around, I’ve ended up with a better deal, or at least gotten my current company to knock a chunk off my renewal. They always seem to “find” a discount when you mention you’re looking elsewhere. Funny how that works.
That said, I do think there’s something to be said for sticking with a company if you’ve had good service and no issues with claims. I had one property where the insurer handled a water damage claim super smoothly, and I didn’t want to risk switching to a company that might nickel-and-dime me if something went wrong. Sometimes peace of mind is worth a little extra, but not hundreds more per year.
Bottom line, I’d say you’re spot on—at least get a few quotes every couple years. Even if you don’t switch, it keeps your current insurer honest. Just wish the whole process wasn’t such a pain... but I guess that’s the point, right? They’re counting on us being too busy or lazy to bother.
Title: Rate Increases Seem Inevitable
You nailed it with the “loyalty” penalty—that’s definitely a thing in insurance. I’ve seen plenty of clients surprised by how much their premiums creep up when they don’t pay attention for a few years. Comparing quotes every renewal isn’t fun, but it really does keep companies in check. On the other hand, if you’ve had a claim handled well, that’s worth considering too. Sometimes a smooth claims process is more valuable than saving a few bucks, especially if you’ve got a unique property or tricky coverage needs. Still, I’d say a little periodic comparison can’t hurt, even if just every couple of years.
