Never heard of a premium going down after a claim—if anything, I brace for the opposite. I’ve got a few rentals and after a kitchen fire claim, my rate jumped almost 30%. The agent tried to spin it as “industry standard,” but I found better rates elsewhere with similar coverage. Curious if anyone’s had luck negotiating with their insurer post-claim, or is switching always the smarter play? Sometimes loyalty just doesn’t pay off in this game...
Never thought about switching until I bought my first place last year. I figured loyalty would mean something, but after my neighbor’s pipe burst and his rate skyrocketed, I started poking around.
That really hits. I called my insurer to see if they’d budge, but they just gave me the “risk profile” speech. Ended up finding a better deal with a smaller company—same coverage, less attitude. Guess shopping around is just part of the deal now.“Sometimes loyalty just doesn’t pay off in this game...”
Yeah, that “risk profile” speech gets old fast.
Couldn’t agree more. I used to think sticking with the same company would eventually get me some kind of gold star or secret discount, but nope—just higher rates and a fancier envelope at renewal time.“Guess shopping around is just part of the deal now.”
I actually had a similar experience: called my insurer after my friend’s place got flooded, just to see if they’d cut me a break for being a “loyal customer.” The rep basically read from a script about market trends and risk factors. Felt like I was talking to a robot. Ended up switching to a regional company I’d never heard of, and my rate dropped by almost $250 a year. Same coverage, less hassle.
Honestly, it makes me wonder if loyalty even means anything to these companies anymore. Maybe it’s just one of those things where you have to treat insurance like your phone plan—switch when it makes sense, no hard feelings.
Loyalty in insurance is basically like waiting for your favorite band to notice you in the crowd—just not gonna happen. I used to think being a “good customer” would get me some kind of secret handshake deal, but all I got was a higher bill and maybe a shinier envelope, like you said. The only thing that changed was the font on my renewal letter.
Honestly, I treat insurance shopping like hunting for cheap flights now. No shame in bouncing around if it saves me cash. The last time I called my old company to ask about lowering my rate, they hit me with the “market conditions” monologue too. It’s like they all went to the same customer service bootcamp.
Funny thing is, when I finally switched, my credit score actually ticked up a few points because my new insurer ran a soft pull instead of a hard one. Didn’t expect that little bonus. At this point, loyalty just means paying more for the same thing... might as well shop around every year or two and keep ‘em guessing.
Yeah, I hear you. The whole “loyalty pays off” thing feels like a myth in insurance these days. I see it all the time with clients—folks who’ve stuck with one company for years, only to find out they’re paying way more than their neighbors for the same coverage.
- Shopping around every couple of years is just smart at this point.
- Those “market conditions” scripts are basically code for “we’re hiking your rate and hoping you won’t notice.”
- You nailed it with the flight-hunting comparison… except at least airlines occasionally throw you a bone with points or upgrades.
Funny about your credit score bump. Most people worry switching will ding their credit, but half the time it’s a non-issue or even a plus, like you saw.
I do think there’s value in sticking with a company if you’ve had great claims service, but honestly? That’s rare. If you can save a few hundred bucks and get the same (or better) coverage, why not? Loyalty just doesn’t pay like it used to.
