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I moved to Michigan about a year ago and just kept my current insurance company (Geico). I had some time today and decided to shop around to see if I could find a lower rate. My friend has progressive and told me to check it out, so I went in and tied my coverage exactly to my current coverage levels. To my surprise progressive came out with a six month policy rate of nearly 1,200 bucks! Currently with Geico I pay almost exactly 500 per six months.
I was just curious what would cause my rate to jump that high? I expect that each insurance company has their own way of managing risk, but I find it odd that one company finds me twice as risky as another. My friend, who is the same age as me has car insurance on his car, his wife's car, and his house, and it ends up being 20 bucks less per month than what I was quoted. I realize he gets lower rates for being married and having multiple policies, but that still seems strange.
It's not a huge deal, since I'm happy with Geico and I don't NEED to change, but I just found it surprising how much variance there could be between two relatively large companies like that.
I was just curious what would cause my rate to jump that high? I expect that each insurance company has their own way of managing risk, but I find it odd that one company finds me twice as risky as another. My friend, who is the same age as me has car insurance on his car, his wife's car, and his house, and it ends up being 20 bucks less per month than what I was quoted. I realize he gets lower rates for being married and having multiple policies, but that still seems strange.
It's not a huge deal, since I'm happy with Geico and I don't NEED to change, but I just found it surprising how much variance there could be between two relatively large companies like that.
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