Backstory: Fifty years ago, when Carolyn and Bruce built their home, Woodlane, they took out homeowner's insurance from a large nationwide insurance company. This company has held the policy in force for all the time the family has lived here. It has been a one-way street, premiums paid in and never a claim on the policy.
Realizing that the premiums have been rising most every year, we decided to get another quote on the policy coming due this month. Taking the old policy, we gave the particulars to a prospective new insurer so we could compare apples to apples.
Now, the results.
The renewal policy cost from our 50 yr. insuring company came in at $3,400, and the policy cost from the new insurer came in at $1,400.
Can that be right?
A $2,000 saving using the same parameters. Is that reasonably possible?
A no-brainer, I guess.
When we told our old company our decision to go with the new insurer, the reply was "We'll be sorry to see you go."
And a wondering: How much could we have saved over the years?
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