Insurance Rates

[zubby01]

I have my homeowner's and auto policy with 1 company. I insure 4 cars. I'm pretty sure I can get homeowner's a lot cheaper with another company but the auto will be higher. In general, could I get a better deal by going w/ 2 different companies or will the discount I get for having home/auto with the same company be a wash?

I know it depends on many factors but before I spend the time to investigate, send info, look at switching, I wanted to find out here if any of you all have different companies for homeowner's and auto?

[highergr0und]

I have one company. I would go cheaper with two companies in a heartbeat, but I haven't found that combo yet. I also don't waste much time looking since my insurance is cheap considering I'm a boring 37 yo living in a nice area with paid off cars.

[One_Putt_Blunder]

Possible yes but depending on carrier and your premiums multi policy discounts are usually 10-30% so can be a challenge to find a good carrier that saves enough to make up for it.

 

Talk to your agent to do a review. There might be options available to reduce your premium

[Wriggles]

Back in 1984, I bought a new base Camaro, 6 cyl, no air. My car insurance skyrocketed to over $800 a year. I was paying a bit over $200 for an older car. When I questioned the insurance salesman, he dryly told me, "You bought a Camaro." Anyhow, I changed insurance companies when I was quoted a $535 yearly premium. In a couple years, the rates increased to the $800 category, without any tickets or accidents. The same thing happened with medical insurance rates.

 

Correct me if I'm wrong, but I've experienced the write the initial policy cheap, then increase it in a couple years. A lot of people, including myself, do not wish to change insurance companies. I've had the same insurance company since I bought that Camaro.

 

Insurance companies know they can screw you. Within a few months after buying a house, I had an awning come down in a windstorm. My insurance agent advised me that if I put a claim for the $1,500 or so, the company would cancel my policy. He advised me to forget it, so in case something major happened, they'd cover it, and then drop me.

 

I did change homeowners after that, but as of today, have just paid premiums with no payouts. I just look at insurance as another private form of taxation without representation. As my late mother used to say, ":Pay the insurance, forget it, and be glad you don't need it."

 

Those cute Progressive, Geico, and Farmer's ads, among others, are paid for by shafting the little guy.

[chickenpotpie]

Shop around, and actually talk to people. I was with State Farm for years, mostly because I didn't want to bother shopping around. Ultimately what got me was a local story where a college aged kid fell asleep behind the wheel and ended up causing an accident killing a young child. Because he was still on his parents policy, the other family could come after that policy (and as I understood it, if that was not enough to pay the awarded damages due to the age of the child killed, they could come after the family's assets, retirement, etc). This encouraged me to relook at my needs because crap happens.

 

In the end, I got more insurance including an umbrella policy for a little less than I was paying before, and I sleep well at night.

 

What I found interesting was that the local guy in my town had the best rates, not one of the firms you hear about on TV. Of course, I know I'm probably still getting hosed to some extent.....my local club is filled with guys selling insurance, and they do seem to have some sweet rides.

[Argonne69]

+1 on the umbrella policy. Face it, we live in a litigious society. When sh*t happens, it doesn't matter who really caused it, they're going to come after the deep pockets. If you have any reasonable net worth, you're a potential target. I like the additional peace of mind knowing that I'm covered regardless of the circumstances (with exceptions of course).

 

Years ago my brother and sister were driving and witnessed a multi-car accident. The stopped to offer assistance. They provided their names and phone numbers to one of the people involved in the crash. Years later my brother was sued for causing the accident, even though he wasn't even involved in the crash. Apparently the lawyers hired by the person he had given his name and number to had discovered that he had insurance, and the other drivers did not. The case dragged on for years. Ridiculous.

[SilverBullets]

+1 on the umbrella policy. Face it, we live in a litigious society. When sh*t happens, it doesn't matter who really caused it, they're going to come after the deep pockets. If you have any reasonable net worth, you're a potential target. I like the additional peace of mind knowing that I'm covered regardless of the circumstances (with exceptions of course).

 

Years ago my brother and sister were driving and witnessed a multi-car accident. The stopped to offer assistance. They provided their names and phone numbers to one of the people involved in the crash. Years later my brother was sued for causing the accident, even though he wasn't even involved in the crash. Apparently the lawyers hired by the person he had given his name and number to had discovered that he had insurance, and the other drivers did not. The case dragged on for years. Ridiculous.

 

+2 on the umbrella policy.. Everyone should have one...

[CosmosMpower]

My homeowners came down a lot when I added it to my car insurer.

[Yanki01]

i requested a quote with who i have our car insurance with. I didn't have a problem with our current homeowners policy, just thought i would get a better deal since i was a longtime customer of my auto insurance company. the price was 2.5x more than what we were paying. even after showing them our quote from our current policy, they said that's the best they could do. pfft. i mean i love our auto insurance policy, it's a great price for 2 vehicles IMO but the homeowners policy quote was just stupid.

[JackpotJohnny]

I will give you some advice if you're going to shop insurance.

Cheaper isn't always better, if your paying less, you're generally getting less. Make well sure you are covered in any possible event.

 

Also, do not even bother with any insurance company you see commercials for, or advertising at the game, on billboards, blimps etc.

they are advertising to replace customers..custoners that left because they had a bad experience with the company.

[golfandfishing]

I will give you some advice if you're going to shop insurance.

Cheaper isn't always better, if your paying less, you're generally getting less. Make well sure you are covered in any possible event.

 

Also, do not even bother with any insurance company you see commercials for, or advertising at the game, on billboards, blimps etc.

they are advertising to replace customers..custoners that left because they had a bad experience with the company.

 

Who does that leave? All major insurers advertise. State Farm, USAA, Allstate - you are saying avoid these?

[JackpotJohnny]

I will give you some advice if you're going to shop insurance.

Cheaper isn't always better, if your paying less, you're generally getting less. Make well sure you are covered in any possible event.

 

Also, do not even bother with any insurance company you see commercials for, or advertising at the game, on billboards, blimps etc.

they are advertising to replace customers..custoners that left because they had a bad experience with the company.

 

Who does that leave? All major insurers advertise. State Farm, USAA, Allstate - you are saying avoid these?

 

Geico spends 1.2 BILLION in annual advertising. That's more than Budweiser and Apple combined..

They spend that $ replacing customers they loose because of their claims practices.

Same thing with companies like progressive and Allstate.

Insurance Is paying a lot money for a piece of paper you put in a cabinet somewhere and hope you never need.

God forbid you need it, and then come to find out that that you're insurance company is trying to find ways to get out of paying for, or underpaying for your loss, you're probably going to be looking for another insurance carrier.

 

The best insurance companies are usually the ones you never hear of, and that will vary from state to state, because not all carriers have coverage in every state.

Companies like Auto club, Amica, Wawanesa, Hartford, USAA etc. all have notoriously great claims service, and policyholder loyalty.

They take care of the policyholders they have, so that they don't loose them.

[Yanki01]

I will give you some advice if you're going to shop insurance.

Cheaper isn't always better, if your paying less, you're generally getting less. Make well sure you are covered in any possible event.

 

Also, do not even bother with any insurance company you see commercials for, or advertising at the game, on billboards, blimps etc.

they are advertising to replace customers..custoners that left because they had a bad experience with the company.

 

Who does that leave? All major insurers advertise. State Farm, USAA, Allstate - you are saying avoid these?

 

Geico spends 1.2 BILLION in annual advertising. That's more than Budweiser and Apple combined..

They spend that $ replacing customers they loose because of their claims practices.

Same thing with companies like progressive and Allstate.

Insurance Is paying a lot money for a piece of paper you put in a cabinet somewhere and hope you never need.

God forbid you need it, and then come to find out that that you're insurance company is trying to find ways to get out of paying for, or underpaying for your loss, you're probably going to be looking for another insurance carrier.

 

The best insurance companies are usually the ones you never hear of, and that will vary from state to state, because not all carriers have coverage in every state.

Companies like Auto club, Amica, Wawanesa, Hartford, USAA etc. all have notoriously great claims service, and policyholder loyalty.

They take care of the policyholders they have, so that they don't loose them.

 

and their commercials are the dumbest ever, nothing has changed with them over the years.

[golfandfishing]

I will give you some advice if you're going to shop insurance.

Cheaper isn't always better, if your paying less, you're generally getting less. Make well sure you are covered in any possible event.

 

Also, do not even bother with any insurance company you see commercials for, or advertising at the game, on billboards, blimps etc.

they are advertising to replace customers..custoners that left because they had a bad experience with the company.

 

Who does that leave? All major insurers advertise. State Farm, USAA, Allstate - you are saying avoid these?

 

Geico spends 1.2 BILLION in annual advertising. That's more than Budweiser and Apple combined..

They spend that $ replacing customers they loose because of their claims practices.

Same thing with companies like progressive and Allstate.

Insurance Is paying a lot money for a piece of paper you put in a cabinet somewhere and hope you never need.

God forbid you need it, and then come to find out that that you're insurance company is trying to find ways to get out of paying for, or underpaying for your loss, you're probably going to be looking for another insurance carrier.

 

The best insurance companies are usually the ones you never hear of, and that will vary from state to state, because not all carriers have coverage in every state.

Companies like Auto club, Amica, Wawanesa, Hartford, USAA etc. all have notoriously great claims service, and policyholder loyalty.

They take care of the policyholders they have, so that they don't loose them.

 

I have USAA. They advertise often, as does Amica, auto club and Hartford. So are those companies good or bad?

[Redbird]

I've been with Liberty Mutual for 10yrs and have been pleased with them.

[chickenpotpie]

i requested a quote with who i have our car insurance with. I didn't have a problem with our current homeowners policy, just thought i would get a better deal since i was a longtime customer of my auto insurance company. the price was 2.5x more than what we were paying. even after showing them our quote from our current policy, they said that's the best they could do. pfft. i mean i love our auto insurance policy, it's a great price for 2 vehicles IMO but the homeowners policy quote was just stupid.

 

In my experience in shopping around, the guys with the lowest homeowner rates were different from the guys with the lowest auto rates, policy term for term. Bundling didn't seem to make up the gap either. Not sure I totally understand that, but maybe if I were an actuary it might make sense.

 

I think some of the cost comes back to the individual franchises writing and selling the policies. They have to make their cut too, and so there might be some of that built in. I know the guy I went with ultimately was licking his chops because they could beat my original guys (State Farm) rates all day long....and the SF auto rate was actually the best I found (though the SF homeowner rate sucked).

[Petethreeput]

Insurance has been commoditized by the inundation of on-line insurance companies and they started to advertise hard. So everyone else had to follow suit. Pick a reputable company, make sure you get an HO-5 so you don't run into any of the issues described above, and pay the extra. Google HO5 v HO3 and click on Andrew Gordon who does a 4.5 minute video to explain the difference.

 

If the company (Allstate comes to mind) says, "No, but we have the same but different..." don't get it. Same with any modified HO3, it isn't comprehensive, though they will add some endorsements and tell you it is the same.

 

On-line companies are notorious for this because the average consumer doesn't read the small print, they just know banks accept it for mortgages, and cops accept it when they get pulled over.

 

Depending on what you want, they all fill a niche. But if they are so cheap you wonder how, it's is probably because rates are kept lower because they are going to pay out less.

[j70]

I will give you some advice if you're going to shop insurance.

Cheaper isn't always better, if your paying less, you're generally getting less. Make well sure you are covered in any possible event.

 

Also, do not even bother with any insurance company you see commercials for, or advertising at the game, on billboards, blimps etc.

they are advertising to replace customers..custoners that left because they had a bad experience with the company.

 

Who does that leave? All major insurers advertise. State Farm, USAA, Allstate - you are saying avoid these?

 

Geico spends 1.2 BILLION in annual advertising. That's more than Budweiser and Apple combined..

They spend that $ replacing customers they loose because of their claims practices.

Same thing with companies like progressive and Allstate.

Insurance Is paying a lot money for a piece of paper you put in a cabinet somewhere and hope you never need.

God forbid you need it, and then come to find out that that you're insurance company is trying to find ways to get out of paying for, or underpaying for your loss, you're probably going to be looking for another insurance carrier.

 

The best insurance companies are usually the ones you never hear of, and that will vary from state to state, because not all carriers have coverage in every state.

Companies like Auto club, Amica, Wawanesa, Hartford, USAA etc. all have notoriously great claims service, and policyholder loyalty.

They take care of the policyholders they have, so that they don't loose them.

 

I have USAA. They advertise often, as does Amica, auto club and Hartford. So are those companies good or bad?

I have USAA as well and from my experience I would find it hard to believe there is a better one out there..

[Bob Cat]

Insurance has been commoditized by the inundation of on-line insurance companies and they started to advertise hard. So everyone else had to follow suit. Pick a reputable company, make sure you get an HO-5 so you don't run into any of the issues described above, and pay the extra. Google HO5 v HO3 and click on Andrew Gordon who does a 4.5 minute video to explain the difference.

 

If the company (Allstate comes to mind) says, "No, but we have the same but different..." don't get it. Same with any modified HO3, it isn't comprehensive, though they will add some endorsements and tell you it is the same.

 

On-line companies are notorious for this because the average consumer doesn't read the small print, they just know banks accept it for mortgages, and cops accept it when they get pulled over.

 

Depending on what you want, they all fill a niche. But if they are so cheap you wonder how, it's is probably because rates are kept lower because they are going to pay out less.

 

Watched it. Good to know. Gonna call my agent next week. Time for a tune-up anyway. Thx.

[calc61]

I had progressive and they were a rip off. I have an excellent driving record and switched to NJ manufacturers ,granted hard to get but rates are much cheaper.

[Pingfitz]

IMO, insurance is legalized extortion...but you have to have it.

[Argonne69]

IMO, insurance is legalized extortion...but you have to have it.

 

Um, maybe. You're uninsured, and you're in an accident. You're at fault, and the other driver is left paralyzed for life, leading to a large judgement against you. Do you have the funds to pay the judgement?

 

Personally, I don't care if you have comp and collision, as it only covers your vehicle. I do care of people don't have liability insurance while driving around 2 ton death machines.

[Petethreeput]

IMO, insurance is legalized extortion...but you have to have it.

 

You are why I pay extra for uninsured and under insured. Thank you.

[beachguy]

My industry actually. Geico progressive state farm , Allstate. Look out.

 

YOU GET WhAT YOU PAY FOR

 

Regional carriers are the way to go. USAA Liberty and Travelers are the only decent national companies.

 

Ever wonder why they spend sooo much $$$$ on progressive / geico/ state farm advertising?

 

Have a claim with them ...it's an interesting ride. That's all I'll say.

 

The best ? Chubb

Also most expensive

 

 

Sadly it's necessary. $%$%. Happens and when you have a great agent you will never switch even to save %15-20.