I just cancelled my Insurance with a company I have been with for 40 years

Just cancelled my Auto Insurance policy with a company I have been with for 40 years. Name starts with an "F" and ends with a "S". This company has made in increasingly difficult to maintain and manage my Insurance with them, it's almost like a full time job. Photos, signed mileage statements, double payments at renewal, etc. etc.

Good news is....while at the Toyota Dealership a couple of weeks ago buying my new 2024 4Runner, I noted that Toyota has their own Insurance Company now. (ToyotaInsurance.com)

I signed on, submitted information on both my vehicles
(2024 4Runner SR5 & 2018 Tesla Model 3)

Short story Short....I saved almost $2,000 over the period of a year vs. my old rates. Same coverage. I am not a shill for Toyota Insurance. Real stuff...happy to share.

My wife is happy, at least for a day anyway.

 

I shop around EVERY time my policy is up for renewal. I'm not loyal to them because they won't be loyal to me. Loyalty to a company (work, insurance, whatever) used to mean something. But not anymore!

My policy is up for renewal in two weeks, so I shopped it around and I was able to find shave another $50+ off my yearly premium. Now I pay $1,179 for 1yr coverage plan. Full coverage with comp, collision and underinsured/uninsured, etc...

 

40 years?????? Wow..!!
I cross shop every renewal. Many times I go back to previous insurance company after 1 or 2 years just because they gave a low rate for exact same coverage.

 

I got a quote from Toyota insurance, they more than I was paying. Insurance is getting too expensive, we have our home, a 2023 4runner TRD Pro, 2022 Rav4 Limited Hybrid, 2020 Rav4 Premium XLE and a Mercedes convertible. We pay $4900 a year with a 21 year old driver on my policy

 

Having a younger driver in the household is an added expense, in more ways than one!

 

That actually sounds like a good deal. 1 house, 4 cars and 1 21yr old driver (Plus, yourself and your spouse?) for $4900? That's less than $100 per month to cover 5 big ticket items. Not bad if you ask me.

 

Your cars are not worth much relative to the liability risk.

 

He must not live in California

 

I live in the most hated state in America.

 

Well, I'd say Washington D.C. but it's not a State....How can the occupants of a State be "Hated" and not their politicians? If the occupants of this State are hated it's because we tan well. And we have mostly great beaches.

 

If you google the most hated state, Illinois is #1 on almost every list. We have the second highest real-estate taxes, the second highest gas taxes, a fat WPS governor, if you're an illegal immigrant between 45 and 65 you get free health care and you can be a police officer and you get a regular drivers license all at the tax payers expense. Oh, and they are literally taking away our gun rights.

 

But your vehicle is a poster child for Toyota Insurance:

 

Not sure what that means, but for $2,000 a year I'll give it a try. What's the Doc Holiday line, "I'm nobody's Huckleberry"?

 

I have a broker I reshop my home/auto every renewal. Usually, I stay with an insurer for two years before they really jack up the rates and then I jump to someone else.

 

Just pointing out the banner pic on Toyota Insurance's website shows a 4Runner.

But yeah, from my own experience, if you stay with an insurance company, they'll steadily increase your rates by a moderate amount each year. Over 10+ years the difference with competing companies can be staggering. Over 40 years, fugetaboutit. Insurance is how the Warren Buffett types became billionaires, no need for you to contribute to their wealth.