Well, that depends on what "value" means to you.

How frequently one should change auto or homeowners insurance to another provider is going to be determined by what is valued.

Auto and Home insurance can be broken down into three main value buckets:

1. Coverage - this not only includes what limits of coverage you might have, but also the extra features and benefits your program might come with.
2. Service - a subjective measurement of how well a company provides service from billing issues to claims fairness.
3. Price - what one is paying for the above.

In the US, some direct-writing insurance companies have spent billions projecting the message that insurance is all about price. The other two values are often forgotten.

So how frequently should one change auto or homeowners insurance?

• If one values Coverage and Service above price, you may never wish to switch. Keep in mind, that insurance is a foundational financial planning product that transfers the risk of loss of your largest assets.Those companies that offer superior service and coverage tend to hold the distinction over long periods of time.
• If one values Price over the other values, then you may wish to obtain quotes every three years or so. Or, following significant life events such as:
• A move to a new location.
• Youthful operators coming into or out of a household.
• Significant improvements in credit score.
• Significant changes in the type of cars owned or driving habits.

This answer comes from someone who could (re)write his own policy with any one of ten (10) reputable companies.

Yet… I have had the same carrier for 23 years.

Reason? I know that every insurance company’s coverage and service is not the same.

I also have witnessed the unexpected tragedy of those who only chase price.

What do you value?

If it’s more than just about the premium you pay, call our office  at (607)324-7500 and ask us to review your program. We’re glad to find a solution that balances what you value!