(11-17-2019, 11:26 AM)rherold9 Wrote: Moral of the story is to look at switching insurance companies every few years? Sad how loyalty means increase your insurance rates. Guess I should check to get rid of State Farm. They've treated me well so far though
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I was a financial analyst for Allstate many moon ago. The answer is, yes, look every few years. Everything is a computer algorithm and tenure with the company means little to zero, except maybe something like a 5% discount off the bill.
Companies price their policies artificially low (for them) early on, to get you as a customer. The gap between what you pay and what they want you to pay is considered the cost of aquisition. Over time the model regresses to the mean and you're moved in line with other people/cars like you. Switching companies has a decent chance of keeping you in that honeymoon period time and time again.
'76 911S | '14 328xi | '17 GTI | In memoriam: '08 848, '85 944
"Here, at last, is the cure for texting while driving. The millions of deaths which occur every year due to the iPhone’s ability to stream the Kim K/Ray-J video in 4G could all be avoided, every last one of them, if the government issued everyone a Seventies 911 and made sure they always left the house five minutes later than they’d wanted to. It would help if it could be made to rain as well. Full attention on the road. Guaranteed." -Jack Baruth
"Here, at last, is the cure for texting while driving. The millions of deaths which occur every year due to the iPhone’s ability to stream the Kim K/Ray-J video in 4G could all be avoided, every last one of them, if the government issued everyone a Seventies 911 and made sure they always left the house five minutes later than they’d wanted to. It would help if it could be made to rain as well. Full attention on the road. Guaranteed." -Jack Baruth