Ain’t that the truth. I was with Allstate for over 35 years. Moving to Oklahoma they wanted to almost double my homeowners for a house that was 1/3 the cost of the one I left. Went with Geico who put me in a policy that made sense.
I would have to disagree on not making any money on home policy. If i would initially asked for car insurance it would have been high until I added a home policy. Its just the opposite
It is called an incentive.
If I would asked for car insurance first then added home would your answer be the same as they are encouraging me to add my home.
Because they snag you on a car and make you less likely to leave them in the long term.
I have been to a lot of company trainings and marketing meetings on this stuff. That is what my old company always said and it was something along the lines of "we only sell property insurance to get the auto policy". This was a top three carrier in the state at the time.
Maybe it has changed since then as it has been a couple of years.
Yup they want the auto a lot more than the home. Like someone else said, when you bundle you are more likely to stay “loyal” and renew year after year because most think it’s a pain to switch.
It’s not.
Thats what im learning its not that difficult to switch. Couple more things ive ran into dealing with quotes. When an insurer ask what are you paying now I just give them my coverage declaration and refuse to say what my current premium is. Some act like can look it up. They may see who your current insurer is but I dont think they can see your premium.
While people should shop around, they also take note of a company that is known for paying their claims. Sometimes the constant race to the bottom doesn't always work out.
