Apr 30, 2015
I was surprised to learn that most homeowners today can save money on their insurance by switching policies. And if you've been with the same company more than 10 years, the percentage you save may likely be in the double digits!
That's because insurance companies offer an initial low rate when you first enroll with them and then raise your rates as time goes by. Insurance companies know that they have a very high retention rate. About 60% of existing policy holders just don't shop around for a better rate.
Our state's Office of Public Insurance Counsel (OPIC) conducted a recent study that revealed that shopping your existing insurance policy can saving you money. OPIC is an unbiased, consumer focused agency that offers great advice to homeowners regarding their insurance options. Visit their web site at www.opic.texas.gov for information about insurance companies.
I'm calling an insurance broker this week to get price quotes. Insurance broker ( Clay Hart ) has a routine of shopping policies for his clients on a regular basis. That's the kind of service we all want.