A New Insurance Agency Chosen – I saved $290

The deed has been done.  I have finally made a decision to switch the insurance carrier for both Home & Auto.  It had to be done and I have said goodbye to my insurance carrier of, I believe, 7 years.  This has been the year of change, to say the least.  However, who am I kidding?  This was one of the easiest decisions of my life and saving $290 to switch, made that decision even easier.

How I switched insurance carriers

It all started when I started writing the article about making the commitment to save money and switch insurance carriers.  Out of pure coincidence, during that time frame, I received a nice, little mailer from the All State Insurance company.  After I wrote my article, I still vetted 3 options online, but came up unsuccessful in the review of those insurance carriers.  Therefore, this All State mailer really intrigued me, as they displayed rock-bottom prices that I couldn’t even believe were anywhere close to being true.

Therefore, I sent a detailed message to the agent listed on the mailer.  I provided my current premiums and coverage for both home and auto, as well as every, single discount that has been applied to my account.  I wanted to show them this, full-disclosure, to let them know I was serious.  In my message, I also let them know it’s going to come down to two things – timely service and price.  Service, surprisingly, is important to me, as I was once hit by a car and Liberty really made it more painful for me, instead of making it seamless/painless.

Low and behold, I received a response back immediately the next morning, as I sent it late during the previous evening.  The agent’s assistant worked with me, as he was out of town, and worked through fine tuning my insurance policy.  After a few back & forth messages, as well as taking the night to really compare and look at everything, the trigger was pulled.  As you saw from my previous article, my insurance for the year was $1,425.00.  After I sealed the deal with All State Insurance, my premium is now down to $1,132.46!  That’s a massive savings of over $290!  Think about it from a dividend standpoint, to produce $290 in additional cash flow, at 3.50%, you would need $8,286!  Bodda-bing, bodda-boom, baby!

insurance switch conclusion

Though this is a quick hitter article, I wanted to share with the community that every dollar matters.  Using an extra $25.00 per month on other things is very helpful.  That may not seem a lot to you, but when I was making $250-$300 investment purchases when I was starting out in my investment journey, they turned out to be some of my largest holdings (due to time, compounding, appreciation and reinvestment).  Do you know what else is crazy?  I haven’t spent this little on insurance since pre-mid-2013.  Therefore, it has been over 5 years since I have been at these levels.  Can you imagine if we were able to keep costs constant or at least reverse them back to that long ago?  I just did and gosh dammit, if I can… SO CAN YOU!

I do have one question.  What are YOU waiting for?  No one else is going to work hard to keep as much of your money, than you.  Now get off this article, pick up the phone or open up your e-mail and start saving money!  Go get it and let’s make it happen.  Thanks everyone for dropping by, and as always, save money and invest often!


8 thoughts on “A New Insurance Agency Chosen – I saved $290

  1. Awesome work Lanny…boom goes the dynamite! That’s some great savings by shopping around your insurance, and your note about the timely service is what has kept me from doing it because the times we have had a claim with our existing insurance it has been super, super easy to process. That is one of my concerns with shopping to some of the other companies out there.

    Love seeing the perspective on the savings too…as you guys say, make every dollar count!

    • DivvyD –

      “And… boom goes the dynamite”. You are right. In my case, it was a poor and ill-timed service from them and it definitely made it easier to switch. Happy to have an agent and company to help me and to save money is always nice, haha!


  2. Way to go! Now maybe if you add ALL to your portfolio they’d give you a shareholder discount to boot! 🙂 Just kidding but I did enjoy their 24% div increase earlier this year.

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