Changing Auto insurance provider year after year


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metallurgy   
Member since: Oct 10
Posts: 72
Location:

Post ID: #PID Posted on: 29-07-11 16:05:10

I just want to know from fellow CDS that is it advisable to change auto insurance provider year after year or not? I got my auto insurance renewal policy and it is up by 20%. Last year I changed my provider due to same issue. (i.e. increase in premium). This year I also want to shop around and go for the lowest one but next year will be the same story.New provider will again increase premium upon renewal. Will it affect my records with insurance provider if I continue this practice of changing auto insurance provider year after year?

Thanks a lot in advance to everybody.



pratickm   
Member since: Feb 04
Posts: 2831
Location: Toronto

Post ID: #PID Posted on: 29-07-11 18:49:19

Sometimes it makes sense to switch for the sake of lower rates if the discount is high enough (20% is definetely worth switching for).
However, after a while it comes counter-productive.
You always end up getting the non discounted rate each time.
Most insurance companies give a discount for loyalty, esp. after 5+ years.

These days (at least in Ontario) car insurance are at huge rip off, punitive rates no matter where you go.
You can keep running, but you can't hide :cuss:


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