Insurance Costs

Insurance provider sends all information electronically. You can do it seamlessly as long as you have the new certificate a week before the expiring date...

 

Changing insurance at a renewal is a natural thing - it has to be done before the current one expires of course, I'd give it at least 2 or 3 weeks. Many people shop around to find a better deal. I changed mine after the 1st year to save money. I changed the agent too. I may do it again in future.

 

Starting to shop even as much as 60 days prior to renewal is normal. Even preferred.

Rushing only puts you at a disadvantage strategically in regards to negotiating a better deal.

 

Thy increased mine by $300 per year without me giving them any reason. They said that that's overall market reaction to the last year's events and too many cancelations during pandemic when the business was slow. They would not give me a renewal quote earlier than 2 weeks prior to the expiration point, so I did not want to mess around with it at that short time left nor that I was particularly surprised by the fact either. I dislike insurance changes, so unless someone had given me a quote by at least $500-1000 less from where I am now, I would have not considered it anyway.
I guess at $7780 for Auto Liability, General Liability and Cargo for A++ rated insurance I should not complain but next time I will get some actual quotes from other insurance carriers.

 

I've never had to check with anyone, they're always calling me! I probably got 10-20 offers from different agents last year before renewal. Anyway, good luck on finding anything cheaper than Progressive.

First year with Progressive for me was $15k, second year my agent got me a better deal all around with Northland, third year back to Progressive and down to $7800 (paid in full, which saved about $1500).

I'm not expecting it to get any cheaper.

 

Yeah that is ridiculous. She’s just trapping you essentially. If you don’t get it renewed with at least a week to go then brokers will start turning your account off.

 

That's very darn good, if you have all the coverages with them. I am with Northland for about as much but the Physical Damage coverage I have is with a separate agent for Progressive and it is for $745 per 6 months. That's just turned out that way one year and I am set up like that ever since. I may add the Physical Damage to Northland at any time but the last time I checked it would not be too much savings or so the Northland agent says. I'll have to check again... The interesting thing about Northland is that it does not matter, or so they agent says, if I pay installments or the lump sum. The installment method costs only 5 dol per payment. So I down-paid $1500 and the rest is in 10 installments of $630. I certainly would have paid the lump sum too, had it made any difference.