We purchase our home, auto and life insurance policies from the same agent and we have been clients for about eight years now. Over the years, I’ve obtained quotes from the competition a few times and found that our agent’s rates are always within a $100 of the best available rate. This year the renewal offer arrived in the mail and since the auto premiums were much lower than last year, I almost went ahead and signed the renewal notice.
Fortunately, it is very easy to obtain quotes over the Internet. Bel-Air Direct’s premiums were slightly higher than our agent’s but the quote from President’s Choice was more than $250 lower for home and auto combined. I called our agent and explained to her that I am able to get a lower quote from the competition for roughly the same coverage. She promised to check the quote again and sure enough she came back with a premium that was $200 lower. It wasn’t the best rate but I renewed anyway because I’d rather deal with a person if we do get into an accident.
The moral of the story is to get a few different quotes on your auto and home insurance when it comes up for renewal. It is so easy to let it slide and sign the renewal form at the last minute (I’ve been guilty of this a few times too) but in this case, procrastination could be costing you.
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