Wealth Today

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After 8 years with Progressive, I switched. I called my local State Farm agent and did a quote over the phone. My automobile insurance now is a LOT better, and I saved almost 33%.

I put my wife on the policy, so she is now covered for the first time in our marriage. I increased my coverage significantly from what I had previously. I went from 20/40/15 to 100/300/100.

Now, let me tell you about the savings. I saved so much (about $500/yr) that I thought I should put the savings to good use, so I also bought renter’s insurance. State Farm has a nice perk called a “multiline discount“, so by buying a policy in a another line of business, I lowered my automobile insurance even more. With the additional policy cost, I still spent $200 less than what I had saved, so I still saved a bunch of money.

The lesson I learned here is: if you’ve been with the same company providing any service or product longer than a couple of years, chances are competition has been working to your advantage, and you may be missing out on a competitor’s great deal . It’s worth the time and energy to do a little investigation. All together, switching my insurance company may take about 4 hours of my time (the calls today, completing property value worksheet, faxing it back, the trip there & back, signing paperwork, notifying the lienholder, etc), but it’s going to save me thousands over the next few years. This should be a “no-brainer” for anyone. MAKE THE CALL. Your wallet will thank you.