Why You Should Shop Your Home Insurance Every Year

In a study done by Plymouth Rock Insurance, 50% of homeowners that were surveyed have not shopped their insurance in the last three years.

Now, as an insurance agent, I'm hoping that those are my clients and that they're so happy with our service that they have no need to shop.

But I'm about to tell you something that most insurance agents would never say.

They would never say this to you because the truth is, most insurance agents write your insurance, and they never want to hear from you again.

Because every time they hear from you, they "are losing money." Do you know what I mean?

You're becoming unprofitable, and that is not the way that we think at Rogue Risk.

In fact, I encourage you if you feel so inclined to shop every single year.

But here's the caveat, and this is the part where I think a lot of people make the mistake when they, "shop their insurance".

They shop on the internet. I run a predominantly digital-facing agency, certainly a digitally accessible agency, so I'm not trying to bash the internet.

What I'm saying is they go it alone.

They look at direct providers and comparative rating websites. They compare their knowledge and expertise in homeowners insurance with that of a professional insurance agent such as myself.

In that case, things often get missed. What those raters will often do is they'll decrease certain coverages that you probably don't know about, such as service line coverage and water backup coverage.

They'll dial down your liability a little bit.

Maybe they'll take you from replacement costs to actual cash value, which adds depreciation, which is the worst thing ever.

Maybe they'll dial up your deductible, and they'll show you the best rate option, which is like a high deductible option.

And if you're not paying attention, there are things you can miss that can ultimately create gaps in coverage.

work with an agency

Here is what I recommend instead.

When I say you should shop your insurance every year, work with an agency that has an automated process to make sure you always have the best rate in the market.

Now what that means is your agency gets updated, the independent agency that you work with.

And you should be working with an independent agency, and the reason is because they have options.

And hopefully, a breadth and depth of knowledge to make sure that you have the right coverage at the right price at all times, and that's what we do here at Rogue.

We have a system that shows when someone's renewal comes in. Is it 5% up? Is it 5% down? Is it 10% up? Is it 10% down? Are there other carriers who have come in who maybe this year have a better rate?

Maybe there's not, so we have an automated process in our agency where when someone renews, we take a look, and notify you.

We say, "Hey, your renewal came in. It's 2% higher than it was last year, but really versus the rest of the market, you have the best thing going."

You got great coverage, let's make sure nothing is changing your life, but otherwise, I think you should stay wherever you are.

Or we may give you a call and say, hi, your insurance premiums are going up 15% this year.

What we're going to do is shop you out to all our carriers. We'll be in contact with you in a week or so, and let you know if there's something better. Oftentimes there is.

So when I say shop, I don't mean go out and try to bang a bunch of insurance agents against each other so that you make them compete for the best rate.

Because ultimately, you don't get the best rate in that instance.

You get the best rate when you put your trust in an insurance agent and allow them to do their job. That's what we do here at Rogue.

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The Rub

Whether you have had the same home insurance policy for many years or recently changed providers, it is still important to shop your home insurance every year.

It takes little time to do and can be done directly by a consumer or by speaking with an independent insurance agent who can provide quotes from several companies quickly and easily.

By taking the time to shop your home insurance on a yearly basis, you will ensure that you are receiving the best value in protection for your home and belongings!

This is where we come in at Rogue Risk.

If your current insurance professional has never addressed issues like this with you before, I’d encourage you to reach out to us today.

• You can call or text us at 518.960.6600
• Click here to contact us via email.

I look forward to introducing you to a new way of viewing your insurance program.

Thank you,

Ryan Hanley