In my experience, I looked for various insurance company and finally bought auto insurance from one insurance company. The cost of insurance was OK initially. After you are with the same company for 1-2 years the auto insurance costs keeps on increasing. If you are smart enough you would shop around for insurance and then change the insurance company. During your mid age when you get too busy with kids and family, changing insurance company becomes a lower priority and you keep on paying the bills till it becomes very very high. By then the insurance company has made huge profits.
My opinion is insurance premium of each insurance company goes like a stock market and while insurance premium is high with one company the other insurance company may be selling the policy cheaper. After some time the other company which was selling the insurance cheaper will start increasing the premiums. I suppose this happens when the insurance company has a big number of insured, then they least care about the customers. Then customers starts leaving the insurance company and the insurance companies then decrease the insurance premium to attract customers.
So this is a cycle. Smart customers should keep on changing insurance companies after every 2-3 years. Have you experienced the same ?
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