“Although you are eligible for a lower rate now, you won’t receive a discount for past premiums paid. Insurance carriers look at many different factors when determining a rate. They also adjust rates frequently.
While you were paying more previously, a rate change could have impacted the price for new policies with your carrier.
If you have an agent with a specific insurance company, they don’t shop around for you with other carriers. They will, however, try to retain your business if you inquire about a rate reduction or possible cancellation.
Having a car insurance broker
may be a better option for you. Since they aren’t tied to one company, they can offer a more personalized experience. They are able to shop around with various companies to find you the best rate with the coverage you require.
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