Shopping for Insurance

[Aztech]

After a couple of recent increases, I'm ready to shop around for better rates on my homeowners and car insurance.

I was wondering if you guys recommend any of those Internet-based insurance search engines where you enter your info and companies make offers or whatever. I guess like InsWeb or similar? What do you guys think or what's your experience, should I use one? Which one?

Thanks!

 

[HardcoreRobot]

in my experience the best is to just get quote directly from different companies

 

[Sinsear]

USAA if you are eligible.

 

[CrackRabbit]

If you can't get USAA try AAA.

 

[BoomerD]

Instead of the "big name" companies, call some of your local independent insurance agencies. They can often save you hundreds, if not thousands of dollars each year on your insurance without sacrificing quality of coverage.

 

[sactoking]

Instead of the "big name" companies, call some of your local independent insurance agencies. They can often save you hundreds, if not thousands of dollars each year on your insurance without sacrificing quality of coverage.

There are two problems with local independents:
1) They have an incentive to shop your insurance every renewal since they often only get commission for placing a new policy with a carrier and not for a policy renewal
2) While shopping insurance every period can appear beneficial at first glance ("I'm paying $400 with this company and they moved me to that company and now I pay $380!") you miss out on longevity discounts that a carrier may offer. Oftentimes longevity discounts are the best discounts a company offers (25-30%+). Once you hit a longevity milestone (usually 3-5 years) the discount you earn in one renewal period is greater than all the pennies you would have saved in the preceding renewal periods by shopping around. You become penny-wise and pound-foolish.

 

[BoomerD]

There are two problems with local independents:
1) They have an incentive to shop your insurance every renewal since they often only get commission for placing a new policy with a carrier and not for a policy renewal
2) While shopping insurance every period can appear beneficial at first glance ("I'm paying $400 with this company and they moved me to that company and now I pay $380!") you miss out on longevity discounts that a carrier may offer. Oftentimes longevity discounts are the best discounts a company offers (25-30%+). Once you hit a longevity milestone (usually 3-5 years) the discount you earn in one renewal period is greater than all the pennies you would have saved in the preceding renewal periods by shopping around. You become penny-wise and pound-foolish.

I'm not in the business, so what you say MAY be true, (about the agent shopping your coverage) but we've had the same independent agent and been with the same company over 5 years.
The ONLY time we've ever shopped around for insurance is when our current carrier keeps jacking the rates when there's been no claims.