I’m already about two months into my renewals which increased by about $300 with State Farm. Previously I rented with no insurance and used Allstate on my car for two years. Prior that was USAA through my whole 20s.
Is it bad to switch home and car insurance companies after a year?
byu/ioncewasaking inInsurance
Posted by ioncewasaking
5 Comments
Not really. But, building a relationship with a Company is important in the event of a Claim. You’re less likely to be cancelled. It does happen at times regardless. Relationships are important.
Also remember if you’re moving because of price, Compare the policies apple to apple. At times cheaper means less coverage.
I hope this helped.
It can hurt your insurance score. In general it takes an insurance company about 3 years to be profitable on a policy, so switching before that can be a ding on your insurance score. Switch this year, but plan to stay wherever you end up for a couple of years, in order to let your score recover.
Bad no. If the savings are significant do it. If it’s a few percent I would stay and try to build up accident free discount. Ask your agent how far away you are from getting that discount if you are in State Farm Mutual Company.
It’s not bad.
Insurers would shit can you after a year if they decided they couldn’t make money off of you. Treat them similarly.
Wondering why you switched from USAA?