Reasons For Switching Insurance Providers

As a homeowner, there are many decisions that you’ll need to make. Oftentimes, a decision may be made based on one or a few circumstances, and that’s just what you end up stuck with because you never think to reevaluate. This is a common case when it comes to subscription services like cable or internet—the companies don’t want you to look for better deals with different providers. Most of us aren’t bothered to fix something that isn’t broken, so we just stick with what we have.

When it comes to homeowner’s insurance, many providers will offer loyalty discounts to give their customers an incentive to stay with them. However, as years go by and different changes occur within your home, switching insurance providers to one that can better suit your needs may be beneficial to you and your family.

Increased Premiums

One of the biggest catalysts for people looking into switching insurance providers is when their premiums increase. Before you’re quick to jump ship to a new provider, figure out why your premiums have gone up. If you’ve filed several claims, there’s a good chance your premiums will reflect that, but changing providers won’t eradicate that problem—all carriers will have access to your claims history.

If there isn’t a clear reason for the increase in your premiums, it may be time to start looking for a new provider.

Bundled Services

Bundling your services through the same provider is one of the best ways to save money on your insurance. Most people know that if you use the same provider for both your auto and home insurance, you can save up to 20% on your premiums. What many don’t know is that you can also save on boat or RV coverage if you use the same provider.

If you are using separate providers for your auto and home, consider bundling them for maximum savings on your premiums. Check out all of the policies that are available between the two providers you’re currently using, and then consolidate with the one that will save you the most while providing the coverage you need.

In our next post, we’ll look at more reasons for switching insurance providers!

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