Homeowners Increasingly Shopping Coverage Every Year As Loyalty Diminishes

Many insurance institutions make it hard not to choose them to hold your policy when they offer new and exciting discounts. Of course, all of this looks appealing to the eyes of the homeowner. If you have recently purchased a home and are looking for insurance, chances are you’re going to try and take the cheap route out.

Homeowners all over the world need to insure their homes to make sure that when a disaster strikes, they will be covered. New clients will be discounted and then when it comes time to renew your policy, what then? How come you aren’t receiving the discounts that are now being offered to new clients? The insurance company will tell you that they’ve already applied a generous discount, and that is all that they can do unless you would like to re-negotiate terms. So from there you go online and try to find some cheaper plans. What if you found out that your insurance company was offering new members a $200 discount on premiums?

This is happening a lot nowadays with a lot of insurance companies. Homeowners are finding that many companies do not offer their loyal and current customers the same deals that the new customers are receiving. Shouldn’t your loyal customer base also be treated with discounted prices just as others? It has been found that most insurance companies are more focused on attracting new customers than they are keeping their existing customers. Almost all insurance companies follow a similar line of hooking the customers in to a cheap rate, and then relying on the fact that most don’t check to see if rates increase upon renewal. A lot of homeowners are beginning to realize this, and are not happy that all of the loyal and existing customers are treated this way.

Did you know that home insurance is the most unethically sold product in the country? There are many companies that have been found to completely inundate the bank accounts of their most loyal customers with extremely high premiums while chasing new customers.

Homeowners go through a very extensive process to find the right policy for them, and not everyone can afford a great plan. So when it comes time to renew and they find that their rates have skyrocketed, it can definitely put them off a bit. The problem will not stop by one bank deciding that it is time to stop ripping off their customers and do the right thing. Many private energy companies are now forced to write to their customers and inform them that there are cheaper deals around, why are insurers not forced to do the same thing?

If you find that it is time to renew your policy and are not satisfied with you’re the price, it might be a good idea to begin shopping around with different companies. This way, you can compare prices and see how your insurance company stacks up against them. If you find you can find a better deal, then it is in your best interest to go for it. Plus, most insurance companies value your business. If you find a quote that is cheaper than your current rate, you could ask them to match this price and in most cases it can be done.

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