Woohoo! I just saved $546 a year on my insurance. I check my insurance rates once per year and I recommend that everybody do it 1-2 times per year. I saved $178 on my homeowners policy and $199 on my car policy (every 6 months). I always check it in Aug/Sep because that is when my homeowners insurance comes due and because I like doing it before the Christmas season starts.
Saving on your insurance rates is not hard. First of all, arm yourself with the only thing we can in this situation, information! Purchasing insurance is like purchasing a car… the people who do not do their research tend to get bamboozled by the salespeople.
Start at a site like 2Insure and get a free quote from multiple companies. Typing out all the information you need for a quote once beats doing it multiple times over the phone. Another bonus is that the companies sometimes offer lower rates than they would over a phone because they know you are comparing. Did you ever read my article on how I bought a new car for $4200 less than the sticker price? It’s all about having information.
Once you are armed with your quotes then you can decide what company to go with. You do not have to go with the lowest company. You can also use that information to get a lower quote from your current company. Call them up and let them know that you received a lower quote from X company but you appreciate their service and wanted to know if there was anything you could do to lower your rate with them.
It might take a little time, but it is worth it!