Do You Think Insurance Companies Should Give Extra Discounts For People Who Are Low Risk And Stay With Their?
insurers? What is the attitude that Insurance companies have that says they don’t care about a low risk insuree that has been with that company for over 30 years?
Comments
I am low risk, have been with my insurance company for over 10 years, and get very favorable rates. If you’re not being treated that way, it’s probably time to move on.
had been on Geico since i was 16 on my father policy, and stuck with themonce i got a car and job on my own. well, over 20 years. no accident, no claims etc. in 20 years. Even had my homeowners through them. decided to compare rates, and was shocked I could save over $400 buck to switch to Erie Ins. insurance companies should return a portion of premiums paid for those people that do not have claims. I have always lived in urban areas, and I lived on the Gulf Coast for a while too. So I think I have paid my fair share of high premiums. Allstate claims to have such a program now, with a progressive discount.
Most do – it’s called a “renewal discount”, and can be combined with a “loss free discount”.
Any discounts an insurance company wants to offer, they have to file them with the state insurance department for approval. So some states, the insurance department won’t allow a renewal discount (example: Massachusetts Auto, where the actual rates are all set by the state).