insurance switch and save--real?
    17 years
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I'm convinced that when one switches, and one saves, that means, one has reset the rate to the proper amount. Yes, it's savings when compared, but, it means one was paying too much.
We had a comp claim last May. They said comp claims do not raise rates.
This is 100% true.
What the above doesn't factor in is the Morgan and Morgan lurking in the shadows (folks are super opportunistic in our society, beware). Someone sees the situation, and sues. Or threatens to. You don't even know these people, have never seen them, and feel their claims are make believe--does not matter.
That happened to us. So August, no change. February, we got a chargeable accident. What? We didn't have any accident hahahahahahahahaha Sole vehicle comp claim. Total loss.
If one reads the fine print, any property damage claim exceeding $2250, is an accident.
Well 2 entities crawled out of the woodwork and made claims against us hahahahahaha
So I found out our insurance paid $5500.
The rates went up $52/6 mos. at MA Auto. You know the co. that loves that Super Bowl winning team, well, former.
Not going to pay it. Called up Mayhem, and they said yes we see you have an accident May 2025. So your rate is $xxx, or, $600 less per year. Just like the tv ads. $600 less if we were to switch.
But that has DriveWise and we don't want to end up with higher rates as a result, so please remove that.
Removed, we save $364/yr.
So we switched, and saved, or did we?
I think we merely reset the rates to what they should be. We were previously overpaying.
To prove my theory it's all a game?
MA Auto made so much money, so much, they announced after I left, last week, they're giving out 5 billion dollars to policyholders. 5 billion. Supposedly that's $100/vehicle. Look for your rebate.
Again, did I save? Well, I think I did the right thing and from now on, I'm switching every 39 mos. Not going to overpay.
Everything was done properly, we cxld 2/23, and just got a refund in the mail from MA Auto yesterday. So glad USPS didn't lose it like many of the important mailings.
The end. My dad never paid anything beyond liability, and he always bought new cars. Then again, he passed 7/10 actuarial exams and he never even worked in that field lol (that gen loved to pass tests and get degrees--one of his masters is from a school that as I type has a 5% acceptance rate in 2026--in his days they could earn degrees at night school).
My Experience
I've tried changing insurance companies a couple of times in the past. Each time, I saved on the first year policy but the rates in the second and third year were higher than what they would have been with the previous company. Yes, it's a game.
My neighbor tried this with his homeowners insurance a couple of years ago when the company jacked up his premium by 25%. The new company he went with insisted on doing an inspection and required around $2000 worth of work to be done before they would write a policy. The work included tree removal, gutter & downspout replacement and even exterior painting!
He about broke even with the lower premium the first year but lost money by year three for the same reason I mentioned above.
Now, instead of switching, every couple of years, I call my insurance company and tell them about the deal company X is offering. So far, in every case, they lowered the premium increase.
May not work forever or in every market, but so far, it has for me anyway.