04/24/2024
I was just watching GMA about insurance cost. They had an expert on. It's pathetic how little you have to accomplish before you can call yourself an "expert." Well - I'm no expert - I only just do this every day all day.
The GMA expert said to shop your company every year. Has anyone ever dated before? Let's say you start dating someone new and learn that they have had 17 partners in the past two years. You aren't going to bring your A game. You might try harder if your new partner was previously in a committed relationship for the past ten years - because you know they have a sense of loyalty.
This is no different from an insurance company. From the time you sign a new insurance policy it takes on average 22 months until that account breaks even, month 23 the insurance company sees its first penny. If you change companies ever year, no company sees a profit. Companies work to close that profitability gap by charging you more. YES, a major metric in the insurance algorithm is loyalty.
That doesn't mean don't shop, you should! Do it intelligently. Don't shop every ten minutes but as a rule - shoot for about every three years. Work with your agent to determine when is the best time to do it. If you are going to leave your current carrier or agent, understand: you are restarting the clock on your loyalty meter again. Your current agent is a great place to start shopping. He/she already has all of your information and can run you through a number of companies. Have him/her tell you which companies were run.
There is no magic fix auto insurance price button. It takes time, patience, a good customer and a good insurance company to come together and make that happen.
As always, if you need a hand - I can introduce to some great companies/products.
