I believe that staying with one insurance company for everything over the years is advantageous to me. Some insurance companies do provide discounts for covering home and autos, no claims, and customer loyalty. I receive annual end of year cash loyalty bonuses and senior bonuses from my insurance company. The bonuses offset what I pay in premiums.
Keep in mind, insurance companies can only charge premiums allowed by your state's insurance regulators and ultimately by your legislators and governor. Premiums are based on claims history in your state. If you live in a democrat-controlled state, you have my sympathy. Factors like weather, driver skill and accident rates, labor costs, and trial lawyers influence premiums.
As explained above, inflation caused by reckless spending by the "buy your vote" party has drastically increased the repair and replacement cost of homes, cars, RVs, boats, everything we own. Insurance companies are forced to increase premiums to cover those costs.
A hidden danger that many are unaware of is the insured value of our homes. Home insurance premiums are based primarily on the home's value. If repairs, replacements, upgrades have increased the value of your home is it adequately insured?
Some believe that shopping premiums every year saves them money but some insurance companies will offer a discount to get you to sign up and then increase premiums in the following years. If you switch insurance annually to save a hundred or two, you're always a newbie with that company. If you have a major claim, how will they settle it if they know you'll change companies next year anyway?
To me, what matters most is what an insurance company will do if I have a catastrophic loss. The way the company treats me if my home burns to the ground or if my car is severely damaged in a collision is a bigger concern than annual premiums.
