Honestly, I think you’re spot on with this. That “loyalty fee” thing is wild—never heard it called that, but it sure feels like it sometimes. I used to just let my policy auto-renew because, you know, life gets busy and it’s one less thing to worry about. But after seeing my premium jump for no clear reason, I started doing exactly what you mentioned. Just an hour once a year to check a few quotes and suddenly my insurer was way more “personal” in their pricing.
“The ‘personal touch’ is nice until you realize you’re paying for it... literally.”
That hits home. I like having someone I can call if there’s an issue, but not if it means I’m overpaying by hundreds every year. Sometimes I wonder if the smaller companies are any better about this, or if it’s just the same game with different branding. Either way, keeping them honest seems like the only way to go.
I totally get what you mean about the “loyalty fee”—I didn’t realize that was even a thing until I bought my first place last year. I just assumed sticking with the same company would mean better rates over time, but nope. My renewal quote was way higher than I expected, and when I called around, I found a better deal with a smaller company. Honestly, I’m not sure if they’re any more ethical, but at least they were upfront about their pricing. It’s kind of exhausting, but I guess shopping around is just part of the process now.
I’ve run into the same thing—thought loyalty would pay off, but it just meant higher premiums. It’s wild how they bank on people not checking around. I make it a point to compare quotes every year now, even if it’s a bit of a hassle. Sometimes I’ll even mention a competitor’s rate and suddenly my current company “finds” a discount. It’s frustrating, but I guess that’s just how the game works these days.
Yeah, it’s kind of a dirty secret in the insurance world—loyalty rarely gets rewarded anymore. I see this all the time with clients. The companies know most folks won’t bother to shop around, so they slowly bump up the premiums year after year. It’s not just annoying, it can really add up over time.
I always recommend getting at least three quotes when your policy is up for renewal. Even if you’re happy with your current provider, having those numbers gives you leverage. Sometimes just mentioning you’re looking elsewhere is enough for them to “discover” a new discount or suddenly offer a lower rate, like you said.
One thing to watch out for: make sure you’re comparing apples to apples on coverage and deductibles. Some companies will quote lower premiums but sneak in higher deductibles or less coverage. It’s worth taking a few minutes to double-check the details before making a switch.
Honestly, I get where you’re coming from, but I’ve actually seen loyalty pay off in a few cases—just not as often as it should. Sometimes, long-term clients get access to perks or accident forgiveness that new customers can’t touch. That said, I totally agree with this:
. I’ve had folks come to me thinking they scored a deal, only to realize their new “cheaper” policy left out water backup or had a sky-high wind deductible. It’s not always about the lowest number on the page. Sometimes, peace of mind is worth a few extra bucks.make sure you’re comparing apples to apples on coverage and deductibles
