At the end of the day, insurance cos do not pay out of pocket. The insured pay themselves. The company ie management etc take 3% for their trouble. If you are lucky, your underwriter has few claims. Otherwise they up the premium and/or deductible to recover. So who is the wiser?
Ok then they up your costs. You switch. The new company asks your history.
So in a big country like USA we have lots of insured. Some companies have lower claims than others. We can exploit that by switching. But that is also a bit of lucky draw. Smaller companies in Europe etc aint so lucky more often than not, it amounts tonothing more than putting money into a savings account for 10-20 years, with little or no interest.