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I switched insurance providers after 11 years with QBE, during which I had one wind damage claim. By moving to NJM, my annual premium was slashed by more than 50%, going from $2200 down to $800. This significant saving showed me that loyalty doesn’t always pay off.
I used to live in New Mexico, where we rarely experienced natural disasters. Despite this, my homeowners insurance rate with Progressive jumped from $1300 to $2400 per year without any claims on my part. It seems that regional factors and the insurance company’s overall losses can impact individual rates significantly.
I’m a new homeowner and feeling overwhelmed trying to choose from the various homeowners insurance providers out there. I’ve heard good and bad things about different companies, but it’s hard to get a clear picture. Based on your experiences, which providers have been reliable when it comes to claims and which ones should I avoid?
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