About a month ago, I received the annual bill for our homeowners’ insurance. The cost of our homeowners’ insurance is escrowed and included with our monthly mortgage payments. I had no idea how much we paid in the prior year, but the current invoice for $1,151 seemed reasonable at first glance.
A couple of weeks later I was cleaning out some old mail and found a copy of the prior year’s bill. The cost for the annual premium was $780. I was confused. I have never made a claim and there were no other changes in the coverage. What would cause this $371 , or 48% increase compared to the prior year? I called Liberty Mutual. The customer service agent informed me that the primary reason for the price increase was because our automobiles were not insured with Liberty Mutual.
Obviously this makes no sense and I protested. The customer service agent’s only response was to try and peddle me auto insurance policies, which I have no desire to change from my current carrier. I informed her that we would be leaving for another insurance provider without some rate relief. No avail. As such, I obtained a quote from another carrier for about $800 per annum and we are in the process of switching.
Reviewing insurance policies is a drag for everyone. However, this seemingly trivial act will save us some $350 this year. This is well worth the investment of time.
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