Read Millionaire Fastlane
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That just happened to me, I was with Liberty Mutual for 7 years and they sent me a renewal that struck me as substantially high, especially since I had no claims in all 7 years. I shopped around and sure enough, I was able to save about 25% going to Allstate, plus I got an umbrella policy with it. When I cancelled Liberty, the agent said, "Oh, we can beat that quote" -- I told him to pound sand, the time to "beat the quote" was BEFORE sending me an outrageous renewal price, and then hoping I won't notice.Today I called GEICO to cancel my car insurance because I moved over to Allstate which saved me $800 a year. To my surprise the GEICO agent said that he would be able to match the Allstate rate.
So are insurance companies like cable companies now, you threaten to quit and they will give you a lower rate?
When I asked the guy, he said that he has more "quote options" available to him since he's in retention vs. a regular quote agent.