I always heard that you can save money switching insurance companies every few years, but never actually shopped around until now. Found $1,715 in annual savings!

I stayed with the same insurance company for auto since 2007. I added my wife to the policy when we got married in 2013, and then added a policy for our home in 2014. I noticed that the premiums were always trending up, as though there was no benefit for being a loyal customer. I finally put in the effort to shop around and found better deals for THE EXACT SAME or BETTER COVERAGE.

Table	Current Insurance	Competitor A	Competitor B	Competitor C
Annual Car	$4,100	$3,526	$2,548	$3,404
Annual Home	$1,362	$1,033	$1,199	$792
Total Annual Cost	$5,462	$4,559	$3,747	$4,196
Annual Amount Saved	$0	$903	$1,715	$1,266

I'm not sure if it's against the rules to post the names of the companies or not so I left them out. After finding the potential for savings I posted to local social media asking "Anyone have any good or bad experience with claims from Company B?" and am waiting for some feedback before I move my policies over. That said, I'm sad I didn't look into this sooner, and look forward to getting into this habit every 3-5 years.

submitted by /u/taxable_efficiency to r/personalfinance
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