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Have You Checked Your Insurance Premiums Lately?

Almost two years ago, I had a motorcycle accident.  I suffered a deep cut in my chin but otherwise I was OK.  My motorcycle was not so lucky and I decided, for superstitious as well as practical reasons, to sell it rather than to repair it.

My insurance carrier was Progressive.  You may know their commercials that feature the exuberant sales person Flo.  What you may not know is that the actress who plays Flo is Stephanie Courtney, a comedian.  I didn’t choose Progressive Insurance because of Flo, although I appreciate her comedic prowess, but because the premiums were half the cost of any other carrier.

Progressive was great when handling my accident.  They covered my medical expenses, since other driver who was responsible had no insurance, and gave me a nice compensation for the “totaled” motorcycle.  I even got a chunk of change for the permanent scar on my chin.  I wear it proudly.

But until my accident, it never occurred to me to look into Progressive for my home or auto coverage.  A few days ago I did and was stunned.  Between the home insurance and our hefty auto policy that includes three cars and two teenagers, I will save $2,400 per year by switching from Liberty Mutual to Progressive.

So here’s my issue.  I’ve had home and auto insurance with Liberty Mutual for 26 years.  Apparently, they’ve been gradually increasing the premium (with very few claims) over the years and not once did they consider that I, a loyal customer, might be paying too much.   And when I cancelled the insurance, the agent said, “Well, could we look at lowering your premium?”

I said, “Nope.  25 years too late.”

In my opinion, Liberty Mutual was doing things well.  And for me, that wasn’t much fun.

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