A Time For Review

COVID-19 has had many unexpected impacts, one of them being the financial burden placed on many American families. 

Whether or not you’ve been directly impacted, you may be looking for ways to save money. One of those may be by reviewing your insurance plans.

The average home policy in America is over $1,200/year and the average auto is over $1,000/year. Here are some questions for you to consider:

When you purchased insurance, did you get quotes from three or more providers?

If not, you might be missing out on savings. Whenever making a large purchase like insurance, it’s smart to compare rates. Getting a quote won’t cost you anything, but it could save you money if you find something for less.

Have you reviewed your current insurance policies in the last 12 months?

You should review your current policies annually to see if you qualify for any new discounts and because your insurance needs may have changed.

States do regular rate revisions that can decrease rates, driving record infractions expire, and things like home updates aren’t factored in unless policies are updated (for example, swapping carpet for wood flooring could increase your home replacement cost by thousands of dollars).

Did you get home insurance bundled with auto?

Yes, it’s true that most insurance providers offer discounts if you bundle multiple policies with them. However, every insurance provider is different and has certain things they like insuring. The best auto insurance provider for you may not be the best home insurance provider and vice versa. You shouldn’t assume because you did the research for one that it applies to the other, it doesn’t.

Is it a pain to switch insurance providers? And will I have to pay cancellation fees?

No, and potentially. Canceling an insurance policy is as easy as a phone call and/or email. Any unused premium will be returned to you, prorated for the time left on the policy. You should have the new insurance in place before you cancel, and the general recommendation is to have one day of overlap. Cancellation fees vary by insurance provider and state and the simplest way to find out is by contacting your agent.

How long will it take me to get quotes?

Most insurance carriers can provide a home quote within 15 minutes and an auto quote within 10. The fastest way to get multiple quotes is by going through an independent agency like Elite Insurance Group. Companies like Elite work with multiple local and national providers, so you go through the quoting process once and you get access to rates from 5+ providers.


If you’re interested in comparing rates today and potentially saving money, give us a call at (855)-260-3229 or email our Insurance Sales manager at jamie@eliteinsurancegroup.com.

April 16th, 2020

Jamie Thompson, Insurance Sales Manager