Will my auto insurance company give me a refund since I was able to find a lower rate elsewhere?

My renewal for insurance just came up and the price increased. I got a quote from Safeco and it's significantly less than what I'm paying with Farmers. I called my agent and they said they could rewrite my policy to give me a lower rate. Will we get a refund for overpaying? Shouldn't my agent have been shopping around for me previously?

Answer
“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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Emily Maracle
Answered on Apr 30, 2021
Emily Maracle is a car insurance specialist living in New York. Originally from the Pacific Northwest, she has a degree in English Literature and a background in customer service. She enjoys cooking, gardening, and living sustainably. In the future, she can't wait to upgrade to a hybrid or electric car.
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