I get where you’re coming from about shopping around, but I’m not totally convinced it’s always worth the hassle. You mentioned:
Honestly, I don’t think most people shop around as much as they should. It’s a hassle, and if you’ve never had a claim, it’s easy to just let it auto-renew and hope for the best.
That’s fair, but sometimes switching can actually hurt you in the long run. Some insurers give loyalty discounts or perks that only kick in after a few years. I’ve seen people jump ship for a slightly lower premium, then get hit with higher rates or lose out on accident forgiveness or claim-free bonuses. Plus, every time you apply for a new policy, there’s a soft credit check—maybe not a big deal, but if you’re also looking at loans or credit cards, it adds up.
I do agree about reading the exclusions, though. The summaries are almost always too good to be true. But honestly, even when I try to read the fine print, half the time I’m left scratching my head. Legalese is brutal. I wish there was a way to get a real breakdown of what’s actually covered, like a side-by-side comparison that isn’t just marketing fluff.
One thing I’ve started doing is calling the insurer and asking super specific “what if” questions. Like, “If my basement floods because of a broken pipe, am I covered?” Sometimes the answers are clearer than what’s in the paperwork.
I guess my take is: yeah, shop around every now and then, but don’t assume newer or cheaper is always better. There’s more to it than just price and coverage on paper. Sometimes sticking with a company you trust (and who knows your history) pays off in ways you don’t see until you need them.
I hear you on the loyalty perks—had a similar experience with one of my rentals. Stayed with the same insurer for years, and when we had a pipe burst, they actually waived the deductible because of our “longstanding relationship.” That said, I’ve also seen insurers jack up rates after a claim, loyalty or not. It’s a bit of a gamble either way. I usually do a quick check every couple of years, but I don’t jump ship unless there’s a really compelling reason. And yeah, those policy docs... you need a law degree just to figure out what’s excluded. I’ve started making my broker explain it to me in plain English—saves a ton of headaches down the line.
Yeah, those policy docs are wild—half the time I feel like I’m deciphering a puzzle. I totally get what you mean about loyalty being a mixed bag. My parents always stuck with the same company, but when they finally had to file a claim, their rates went up anyway. I’m new to this, so I’ve been asking a million questions and double-checking everything. Having someone break it down in plain English is a lifesaver. It’s reassuring to hear others are just as cautious.
Honestly, I thought sticking with one company would be easier, but after my friend’s nightmare with a denied claim, I started shopping around. It’s wild how much the rates and coverage can differ. Reading the fine print is a pain, but it’s worth it.
You’re not wrong—shopping around can be a hassle, but it really does pay off. I’ve seen folks save hundreds just by comparing policies every couple years. The fine print is a pain, but it’s where the surprises hide. Good on you for digging in.
