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Originally Posted by Michael G.
I read somewhere that once a year when your insurance policy's come due, you should always review your policies with other companies to seek cheaper rates.
Now I been with XYZ company going on 8 years, and there isn't 12 months goes by without them raising my 3-group policy's total premiums by $10- $20 and more in any given year, (auto, home, and umbrella).
Ok, yes, I realize there's inflation, fires, floods for insurance co. to pay for, but is this normal procedure for insurance Co's to treat long time policy holders.
If I switch to other Companies with cheaper rates for now, what's not to say in 12 months, the same thing will happen, rates go up.
Am I better to bite the bullet and stay put?
I need some guidance here people.
Cheers!
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Tough question.
Remember, cheaper rates are only good if you DO NOT have a claim. A lot of people would pay more for a nationwide(not Nationwide the company) company which has good service as opposed to some of the mostly Florida based insurance companies.
Your agent can tell you the names of the companies who do provide best customer service. Make sure that you do buy your insurance from admitted company. Some companies are surplus lines companies. These companies do not need to follow all of the Florida laws.
With the basic info you supplied I would stay with your current insurance company. Surprised your rates have not gone up much higher(20%+)