Took me 8 months to realize I was overpaying for car insurance

I switched to a new provider 2 years ago and just assumed my rate was normal for my area in Phoenix. Last month I actually sat down and compared 5 different policies side by side, turned out I was paying $120 extra every month for coverage I didn't even need. Called my current company to match the lower rate and they did it on the spot after I threatened to leave. Has anyone else found a huge gap between what you pay and what you should be paying for something routine like insurance?

2 comments

2 Comments

hill.jade5d ago

Oh yeah, I love how they "bet on people being too busy or lazy." Sounds like a fun game where the prize is my money. I called to cancel my gym membership once and suddenly the guy on the phone was my new best friend offering me a half price rate. Told my car insurance I was switching and they magically found a discount I didn't know existed. Almost makes you wonder if they just make up the rates as they go.

veramartin6d ago

Read something the other day about how insurance companies basically bet on people being too busy or lazy to check... turns out they're usually right. I learned the hard way too, been paying too much for years without asking.