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Repulsive_Air603 t1_iuhdzf6 wrote

Reply to comment by SnooCompliments148 in Your insurance will most likely be going up by Grayjay000

What coverages did you change? You didn’t get a 50% drop from rewriting it with matching coverages

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SnooCompliments148 t1_iuho03s wrote

I thought the same thing and checked again and again. Even had my SO check it. Same exact coverage, no change.

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Repulsive_Air603 t1_iuhrc4j wrote

Only thing I can think of would be credit. It’s generally run at new business and never again unless you request it. If your credit improved since the last time, you initially started a policy that could do it. It’s a huge impact to your premium.

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thedouble t1_iuhyacf wrote

I used to have allstate for car insurance in my 20s. It slowly went up each time and I never thought much of it, but eventually it was too much and I started shopping around.

Every other company quoted me less than 50% of what I was paying allstate. I called my allstate agent and asked if they could match these quotes and they said no.

I switched companies. The NEXT DAY I went to allstate's website for a quote (which wouldn't run a credit check I don't think?), and the quote was in line with every other insurance company. Less than 50% of what I was paying them just 2 days prior.

So, seems to me that insurance companies just like screwing their existing customers.

Also, no I did not lower my coverage.

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BarnabyColeman t1_iuivli1 wrote

This is my exact experience with both State Farm and Allstate. Any time my rates go up I just instantly switch auto insurance now.

There is no such thing as customer loyalty with these companies so do not feel obligated to start with them! All of their apps are the same, all of them provide the same coverage, and all of them suck. :)

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rctid_taco t1_iuills0 wrote

I had a similar experience with eSurance which is an Allstate company.

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Repulsive_Air603 t1_iui0fk9 wrote

Might be partially credit. Especially based on your age (assuming less credit history in your 20s). It’s a soft pull but they do use it in basically every state.

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mygirltien t1_iuhtuz1 wrote

Have my motorcycle with progressive. My renewal was 200 less than last year and i have high end coverage. No change to anything and accident free just a simple note of congratulations, your premium is 200 less this year. Whenever insurance goes up just a little i start shopping around.

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moudine t1_iuif44n wrote

This happened to me with GEICO like 10 years ago and the same thing happened, and like the other commenter said, it was because my credit score had improved dramatically since becoming a customer when I was only like 18. But, I called them, and they corrected their error and even refunded me the premium I had already paid so far for that period.

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[deleted] t1_iuhtn4h wrote

Yeah this isn't true. Plenty of insurance companies just walk the prices up for existing members every month until they leave and go elsewhere. They'll sign you up for cheap with all sorts of new member discounts. Once they have you as a customer they couldn't care less.

I did the same. My progressive policy went from $560/6mo to $850/6mo by the third renewal. Canceled and went elsewhere. Have equivalent insurance for $600/mo.

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Repulsive_Air603 t1_iuhw5zh wrote

I work for a small insurer and build our rating plans based heavily on Progressives rate plan. The only diminishing discount they have is their advanced quote discount. starts out around 13% and decreases to 0% overtime. Diminishing discounts vary between insurers but that 50% difference isn’t all from regular policy aging.

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[deleted] t1_iuhyxl5 wrote

I really don't care what it's from. Another insurer was basically able to take me down to where I was before. The problem is low risk people can get better insurance. Jacking up rates on low risk individuals just increases the risk and thus loss of their portfolio. Which means they have to raise rates even more.

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MawiWowie t1_iuhkutz wrote

I left progressive and found better coverage (included 1M umbrella policy for free) for a 30% discount. It’s always worth it to shop.

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Ham_Council t1_iujd571 wrote

He very much could have. Progressive silos you into a risk profile and no matter your habits as a driver, they don't shift you into safer risk profiles as your account ages. You have to rewrite with them to do that.

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wycliffslim t1_iuk9i0i wrote

You can. Different companies cater to different types of people.

We shopped 4ish different insurance companies and for auto especially some of them varied by up to +/-100%. They were all identical coverages.

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