AmyS13 (Virginia)
Posts: 3
Posts: 3
Posted:
Is having a long relationship with the same insurance company for master condo coverage a risky business? How often should our community seek other offers?
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The changing of Master Condo Insurance Company
Started by AmyS13 • 4 replies • 1344 views
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JohnC46 (South Carolina)
Posts: 14,265
Posts: 14,265
Posted:
Amy
I assume the policy was written for a specific period of time. If so, then inform them you are going to request bids from other companies using their policy as the guideline. I expect they will say we "might" could do better.
All is fair in love, war, and business.
I assume the policy was written for a specific period of time. If so, then inform them you are going to request bids from other companies using their policy as the guideline. I expect they will say we "might" could do better.
All is fair in love, war, and business.
SteveM9 (Massachusetts)
Posts: 3,699
Posts: 3,699
Posted:
I would quote it out every 3 years and sometimes change companies. Only way to keep the rate in check.
KerryL1 (California)
Posts: 14,550
Posts: 14,550
Posted:
We, too, shop about very 3 years.
TimB4 (Tennessee)
Posts: 21,059
Posts: 21,059
Posted:
It's nice to have a long relationship.
However, it's best to always shop around. Shopping around doesn't mean that you have to change companies if you get a lower bid, it simply lets you know what the current market price is.
When we last bid our trash contract, we liked the provider we had but were able to get a much better price ($10,000 less per year) from the same company simply because we solicited bids.
However, it's best to always shop around. Shopping around doesn't mean that you have to change companies if you get a lower bid, it simply lets you know what the current market price is.
When we last bid our trash contract, we liked the provider we had but were able to get a much better price ($10,000 less per year) from the same company simply because we solicited bids.
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