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Æthelthryth the Texan

Insurance companies- do you get what you pay for when it comes to service?

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Hi Hive! 

We are going through some questions regarding insurance and I thought, what better place to pop in and ask for some input?! (besides my agent who is going to be admittedly biased.)¬†ūüėä

We are probably buying Dd16 a new truck tomorrow, so I'm dealing with insurance quotes. Right now we have most things insured with one Big Named Company- home, vehicles, umbrella- so even if I move auto, I'd still have multiple policies there which I think would still get that MP discount......Here are some questions I have and was hoping some insurance expert here has some insight. We have been happy with our current insurance company and agent. But honestly, aside from a hail damage claim which was extremely painless- they were great to deal with- we haven't had to deal with them much apart from renewals, reviewing coverages to make sure they're adequate and adding additional policies. We've been with them for about 5 years. Our agent is great about calling me every six months and going over our coverages and different plans to find us discounts where possible. BUT. Running some online quotes, we might be able save a couple of hundred dollars every 6 months by switching to one of the online places from the looks of it. Assuming of course, that there are no disclaimers that would change that when it came time to actually sign on that dotted line. 

Here are some of my questions. 

1) Is it stupid to separate your auto from the remaining policies? I am not sure I want to go through all of the stress of having everything quoted at once, so right now I'm only looking at auto. I feel like they always make it difficult when it comes to comparing apples to apples, and I just don't feel like dealing with house, et al quotes at the moment. (Not to mention we are on the coast so there are limitations on who will cover our house.) Is it nuts to move your entire auto insurance alone to save money because of high teenager insurance cost? She has a clean record, but she's 16 which alone means $$$$. (And note- I am not putting the car into her name or separating her on to her own policy. We're all on the same policy with all of our vehicles. That's non-negotiable.) 

2) If I move auto, and then my umbrella is with a different company than my auto insurance, would that impact anything if it came down to a claim? Will it be a bigger battle to get the umbrella to come into play, or is that pretty straight forward? 

3) We had a bad experience 10+ years ago with another Insurance Co. when we had insurance without a specific agent. (Original Agent was promoted and insurance company just sort of threw us into the "general pool" which was a nightmare and we ended up having to get an attorney when we did have a claim on our house. Insurance eventually paid, but I think the stress took a year or two off of my life.)   I am a little concerned of getting what we pay for at this point; at least as far as using something like Progressive or E-surance for auto insurance, never having dealt with either. So would say a $50 dollar a month (or less) difference in premium from known Good Insurer/Good Agent be worth it over some e-insurance type place when it comes to an actual claim? Would I be better off sticking with who we have, knowing we have a good relationship with our agent and the one claim we've had  with them (hail damage to truck) has been painless and $400 or so a year savings isn't going to make or break anything? 

I'm just trying to figure out what's worth what when it comes to insurance. I feel like I hear enough stories to know that insurance companies have no loyalty when it comes down to it and they'll drop you in a heartbeat.....but then again I don't want to get a bargain basement price, but with bargain basement service- where when you need them they aren't there or getting a claim covered turns into a legal dispute nightmare. 

Thoughts? Is it possible to negotiate actual coverage cost with insurance companies, or is it set in stone? They are so far from transparent, it's like they use a Magic 8 Ball to create quotes. I will talk to our agent tomorrow to get precise numbers of what they can do for us without affecting coverage, but in the meantime I've just been getting online quotes from other companies to see what we're in for with this new vehicle. 

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We used to prefer to keep all of our insurance coverage with the same company, with a local agent. It was nice and simple and his office is five minutes away and we could walk in and talk to someone face-to-face any time. We didn't mind paying a little extra for the convenience. But then it got to be a LOT more than a little extra. I think the days of that remotely making financial sense are long gone. We currently have our RV with one company, our cars with another company and our home with a third company.

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I would think it would be a problem.  

I know there are less expensive and less restrictive companies than what I have, but have been with same company for some years. And don’t plan to change.  

 I don’t know if umbrella over policies elsewhere is possible.  But you should be able to just ask.  

That said, when I was looking up costs for teen driver recently, some decent companies seemed to be in the $2500 /year range for a teen (boy) driver (just the driver, not new car too), and others in the $5000+ range. ¬†If you have a ‚Äúgood‚ÄĚ company and the difference is $400/year and you can afford it‚ÄĒpersonally if me I might just stick with ‚Äúgood‚ÄĚ company and not deal with changes at all. ¬†In a few years teen will be older anyway.¬†

With my insurance co Different vehicles also will give substantially different insurance rates with a teen driver.  You might want to look at that before committing to a particular new truck.  

 

 

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16 minutes ago, Pen said:

have been with same company for some years. And don’t plan to change

 

 

I don't remember the name of this practice, but I first heard about it on Clark Howard's radio broadcast and I've heard and read about it from other sources since then --

Insurance companies have for years used a type of forecasting in setting their premiums. The forecast says that the longer a customer has been with a company the less likely they are to switch. So the company has little/no reason to try to give that loyal customer the best rates. Quite the opposite--they feel very safe in going up quite high on that customer's rates, because statistically the customer is likely to go ahead and pay.

When we switched we'd been with the same company (State Farm) for over twenty years. I've forgotten how much in total we saved by shopping around (but keeping the same coverage levels), but it was a lot. Much closer to $1,000 a year than a couple of hundred. My  brother had been telling us for a long time before that that he saved a lot by switching every four or five years. We waited too long to believe him, but . . .he was right. Like with the cable/internet industry, it seems that the insurance industry believes in taking advantage of loyal customers, not rewarding them.

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IME, you do not necessarily get what you pay for when it comes to service.  As you know,  whether or not an insurance company id "good" only really matters if you have a claim.

I worked for a law firm that did insurance defense for a major auto insurer (by far our largest client). Partners were told to use that company,  but staff was actively encouraged to use another company.   That insurance company has been around for a long time, "My parents used it and never had problems." False sense of security right there. We saw how crappy they treated clients injured in car accidents.

(I won't name them here.  Besides,  it's going to vary from state to state, and this was a long time ago. )

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10 minutes ago, Pawz4me said:

I don't remember the name of this practice, but I first heard about it on Clark Howard's radio broadcast and I've heard and read about it from other sources since then --

Insurance companies have for years used a type of forecasting in setting their premiums. The forecast says that the longer a customer has been with a company the less likely they are to switch. So the company has little/no reason to try to give that loyal customer the best rates. Quite the opposite--they feel very safe in going up quite high on that customer's rates, because statistically the customer is likely to go ahead and pay.

When we switched we'd been with the same company (State Farm) for over twenty years. I've forgotten how much in total we saved by shopping around (but keeping the same coverage levels), but it was a lot. Much closer to $1,000 a year than a couple of hundred. My  brother had been telling us for a long time before that that he saved a lot by switching every four or five years. We waited too long to believe him, but . . .he was right. Like with the cable/internet industry, it seems that the insurance industry believes in taking advantage of loyal customers, not rewarding them.

 

I believe that’s very likely!!!

eta

that said, it’s a lot of doing and stress to change   And I’ve had a couple other companies that were harder to deal with  including State Farm.  

 

 

Edited by Pen
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20 minutes ago, Pawz4me said:

I don't remember the name of this practice, but I first heard about it on Clark Howard's radio broadcast and I've heard and read about it from other sources since then --

Insurance companies have for years used a type of forecasting in setting their premiums. The forecast says that the longer a customer has been with a company the less likely they are to switch. So the company has little/no reason to try to give that loyal customer the best rates. Quite the opposite--they feel very safe in going up quite high on that customer's rates, because statistically the customer is likely to go ahead and pay.

When we switched we'd been with the same company (State Farm) for over twenty years. I've forgotten how much in total we saved by shopping around (but keeping the same coverage levels), but it was a lot. Much closer to $1,000 a year than a couple of hundred. My  brother had been telling us for a long time before that that he saved a lot by switching every four or five years. We waited too long to believe him, but . . .he was right. Like with the cable/internet industry, it seems that the insurance industry believes in taking advantage of loyal customers, not rewarding them.

This is a reason to call around a get quotes, but we've been mixed on whether the rates were better with changes. Sometimes we've stayed, sometimes we've gone.  We tend to stick with highly rated companies, though, an on the rare occasion we've had to make a claim (thanks, TX hail storm), the ease with which the claim was processed was well worth paying a tiny bit more to stay with a highly rated company rather than a lower rated one. 

And, yes, teen car insurance is crazy high. 

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Assuming umbrella can be with any company, If u do get auto insurance thru a less expensive company, I wonder if u could add an umbrella via the auto insurance policy company ? 

 

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We've found that Geico charges less because their coverage is very sparse.

Ds16 had a minor accident due to very slippery roads during a storm this past winter, and our insurance rate actually went *down*!  They sent the assessor out the day following the accident, and we had the car repaired and returned by the end of the week.

Edited by Amy in NH
ETA: We do not have Geico!
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Don't know the answers to your questions, but we've been very pleased with the auto + home insurance from AAA. Now, granted, we haven't had to make any claims, LOL, so maybe we'll be very unhappy with the service if we need to make a claim, BUT... we get a good discount for doing both through AAA, and when our DSs were teens and starting to drive they got a "good student" auto insurance discount. We also have really appreciated having the AAA service in general, as our old last vehicle needed towing to the shop several times, and it was great to not have to pay for that AND the towing service arrived in less than 30-40 minutes each time. Plus -- free AAA maps and guide books! And free passport photos! And motel/travel discounts! (:D  [We switched away from State Farm many years ago, as they were more expensive and difficult to work with.]

As far as buying a new truck for your 16yo DD -- If that puts your total cars to 3 or more, I'd suggest listing the newer vehicles with you and your DH as the primary drivers, and list DD as primary driver of the oldest of the 3 or more cars. There is definitely a big price jump for teens in age/model of vehicle when they are listed as primary driver. If the new truck brings your total family cars to 2, then be sure that DD is NOT listed as one of the 2 primary drivers -- that it is you and DH -- to keep rates lower.

(ETA: I am assuming when I suggest this that *all* of you will be rotating around through vehicles and taking turns driving the new truck -- if that is not the case, and if it will *only* be DD driving it, then disregard my suggestion, as it would not be true/valid.)

Edited by Lori D.
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Do both insurance companies offer good student- good driver discounts, like State Farm does? Are the policies different in how they treat drivers while away at college ( if that’s likely)? Those are a couple of things I’d ask about. We have State Farm for everything, for at least 25 years, and have had to remind them of that a couple of times- they were very eager to keep us with them. I’m not much of a risk taker, I tend to over-worry, so for just a few hundred dollars/year I’d not change.

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51 minutes ago, Amy in NH said:

We've found that Geico charges less because their coverage is very sparse.

 

In what sense?

51 minutes ago, Amy in NH said:

Ds16 had a minor accident due to very slippery roads during a storm this past winter, and our insurance rate actually went *down*!  They sent the assessor out the day following the accident, and we had the car repaired and returned by the end of the week.

 

Down?   Do you know why?

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2 hours ago, Lori D. said:

Don't know the answers to your questions, but we've been very pleased with the auto + home insurance from AAA. Now, granted, we haven't had to make any claims, LOL, so maybe we'll be very unhappy with the service if we need to make a claim, BUT... we get a good discount for doing both through AAA, and when our DSs were teens and starting to drive they got a "good student" auto insurance discount. We also have really appreciated having the AAA service in general, as our old last vehicle needed towing to the shop several times, and it was great to not have to pay for that AND the towing service arrived in less than 30-40 minutes each time. Plus -- free AAA maps and guide books! And free passport photos! And motel/travel discounts! (:D  [We switched away from State Farm many years ago, as they were more expensive and difficult to work with.]

As far as buying a new truck for your 16yo DD -- If that puts your total cars to 3 or more, I'd suggest listing the newer vehicles with you and your DH as the primary drivers, and list DD as primary driver of the oldest of the 3 or more cars. There is definitely a big price jump for teens in age/model of vehicle when they are listed as primary driver. If the new truck brings your total family cars to 2, then be sure that DD is NOT listed as one of the 2 primary drivers -- that it is you and DH -- to keep rates lower.

(ETA: I am assuming when I suggest this that *all* of you will be rotating around through vehicles and taking turns driving the new truck -- if that is not the case, and if it will *only* be DD driving it, then disregard my suggestion, as it would not be true/valid.)

I may have misunderstood, but I think with our policy there isn't a primary driver for any vehicle- you just have the vehicles, and you have the drivers- I can't find anything on the policy or the ID cards differentiating it and they've never asked that I remember. I will definitely ask though. All of our cars are pretty new (1-<3 years old), but my car- the oldest- is worth a lot more than the new truck for her will be, so I'm not sure if that will work to get her a cheaper rate. I want all of us covered on all three, because as you mention, we'll probably rotate between a couple just to distribute mileage until she needs a daily driver. 

1 hour ago, Dotwithaperiod said:

Do both insurance companies offer good student- good driver discounts, like State Farm does? Are the policies different in how they treat drivers while away at college ( if that’s likely)? Those are a couple of things I’d ask about. We have State Farm for everything, for at least 25 years, and have had to remind them of that a couple of times- they were very eager to keep us with them. I’m not much of a risk taker, I tend to over-worry, so for just a few hundred dollars/year I’d not change.

Good points! Ours definitely does, but I am not sure about the others. I think one asked on the questionnaire, but I filled out several and they've blurred together. I will be sure to check if we continue to get quotes. She isn't moving away to college or planning to move out anytime soon, so for now it would be local, but maybe later on down the road that will change. I'll make a note to ask about this should circumstances change. 

The more I research the more I think we should probably stick with who we have for now unless they're absolutely insane on this new add on. I think we would get dinged on our homeowner's if I separate the auto from what I can tell on the policy discounts, and many places won't insure us here for homeowners because of the storm risk. State Farm, for instance, will not write homeowners policies in my area, so pickings on that end could be a little slim. But I'll still mention the rate differences I'm seeing with Progressive and perhaps they have some room to maneuver if they think we are looking around. 

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You could also ask about anything that could make it come down‚ÄĒsafe driving app, a first year of safe driving, seatbelt wearing discount, non smoker discount...¬†

and if you aren’t certain on the truck you’re getting look at rates on different trucks. They may differ by more than $1000 per year to insure different models with different claim histories.  

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16 minutes ago, Pen said:

You could also ask about anything that could make it come down‚ÄĒsafe driving app, a first year of safe driving, seatbelt wearing discount, non smoker discount...¬†

and if you aren’t certain on the truck you’re getting look at rates on different trucks. They may differ by more than $1000 per year to insure different models with different claim histories.  

We’re getting a killer deal on this truck so we’re pretty set on it. It’s a new 2018- once they’ve been on the lot for so long the dealers have to wholesale them off if they can’t sell them so the mark down is drastic. We could flip it tomorrow as a used vehicle for more than we’re paying for it new. Funny how cars work. So we are taking advantage of that, and the high safety rating which is influencing me greatly in a land of heavy duty trucks (even driven by teens- where cars aren’t the best option). We are car people so we approach them more in a short term than long, if that makes sense. 

I will make sure to ask about other discounts though so thanks for the heads up. I would’ve assumed those were a given; LOL but I guess not! 

Edited by Æthelthryth the Texan
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29 minutes ago, Æthelthryth the Texan said:

We’re getting a killer deal on this truck so we’re pretty set on it. It’s a new 2018- once they’ve been on the lot for so long the dealers have to wholesale them off if they can’t sell them so the mark down is drastic. We could flip it tomorrow as a used vehicle for more than we’re paying for it new. Funny how cars work. So we are taking advantage of that, and the high safety rating which is influencing me greatly in a land of heavy duty trucks (even driven by teens- where cars aren’t the best option). We are car people so we approach them more in a short term than long, if that makes sense. 

I will make sure to ask about other discounts though so thanks for the heads up. I would’ve assumed those were a given; LOL but I guess not! 

 

What is the truck? I may be needing to think this through myself soon.

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5 minutes ago, Pen said:

 

What is the truck? I may be needing to think this through myself soon.

A Ford F-150! If you're going to act, act quickly, as most 2018's are about to be or are on a truck to wholesalers. We took a week to decide on this one and almost missed out. If you want to wait until next year, mark the time and start looking around May is my suggestion. They would rather take a deal than wholesale it in most cases.  I live in a truck heavy state though,  so truck values stay crazy high. Cars here do nothing but tank and depreciate, so it may vary in other, less truck dominant areas, fwiw. 

ETA- the timing may vary for other brands, but they have to clear out for the next model year, so past 18 months, they really need to ditch the models. This goes for other brands like Nissan too, so it's not only Ford, but I'm not as familiar with Chevy/GMC or Toyota. They may be different. 

Edited by Æthelthryth the Texan
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We do not use an insurance agent. My DH likes to shop online for insurance. We have one company for home and use Geico for auto.

we have had good service from Geico. My DS has a wreck in our minivan in September. It was an old van and it needed up on its side in a ditch, so it was totaled. Geico sent an adjuster within 2 days and told us what they would pay. They actually paid us more than we had paid to buy the van used 4-5 years ago. We had the check a week later. 

I can’t remember are first home insurance company, but we had two rather large claims on this house. Because of where we live (extremely rural), the company did not send and adjuster. We just had to get a local estimate and send in pictures before and after the work was done. We recently switched companies to a company that has more presence in our area. They actually sent a guy out to do the initial paperwork.  That is the first insurance person we have seen in the 8 years we have lived here.

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With a new and inexperienced driver I might eat $50 or more a month and stay with an agent I trust and on whom I can clap eyes if need be. My BIL always said with young drivers it's not if they have a claim but when and then it may be important that you have good representation.

We've had a car insurance company that has no local rep and it worked out fine but we had fortunately no claim. Their prices are very competitive yet when we recently bought a new house and had to come up with home owner's insurance again, dh decided to bundle everything together with a company who has local agents. He feels better this way. Price is less than $50 a month difference - so not a huge sacrifice.

 

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We have good coverage with our current company, and we've been with them for decades and love them. When we added our first teen driver, we searched quotes from all over, then called our company (not even a dedicated agent, just the customer service number) and asked what they could do to work with us and perhaps get us a better rate, as we didn't want to leave but if their price was going to stay so much higher than everyone else's when we'd been customers for so very long, we wouldn't have a choice. 

They ended up switching us to a different type of plan and our rate actually went *down* which was very nice. (we weren't initially adding a car, and it did increase a little when we did that, but not a ton). 

One thing to check on, other than the coverage itself as far as limits, deductibles, etc, is also the little extras. For instance, our company has complimentary roadside assistance on all policies, which has come in very handy for me a time or two. I had a blow out once, DH was out of town on business, the boys were in class, and while I could probably have used the manual to figure out how to access the spare on my minivan.....it was very nice not needing to. It's also given us peace of mind with our son off at college, should he run into anything he can't handle while he's away. 

Then also, glass coverage, if you get a ding to the windshield, do they fix that, do they count it as a claim, how do they handle it? 

Just some things to think about.

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I was looking at a graph on car accident fatalities (don’t know if all crashes or high claims  track with fatalities) which made it look like male drivers have more fatal crashes even as adults.    That is, it looked like even 30 yo men are more likely to be in a fatal crash than a teen girl.  But it wasn’t adjusted for a per miles of driving or per 100,000 drivers.  

IIHS.org. 

Edited by Pen
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We have some of our insurance with State Farm and some with Farmers.  Our umbrella through farmers is over all of it.  We just had to demonstrate to them that we had the right minimum coverage on the State Farm policy to be able to add it to the umbrella.

Personally I have benefitted from having a local agent when I had a claim‚ÄĒI got good advice for dealing with the claims area, and felt like that was very worthwhile. ¬†
Also, just in general, I know if I can sit down across a desk or even a phone line with someone I know personally in the event of a loss it will be helpful emotionally, and at those times that is valuable.

 

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Well I am super impressed with my agent this morning. They're now writing with other companies besides Current Co. and she let me know right away that our company is sky high to add this truck, and even nuttier to add the teenager with it, so she's getting quotes with the others. I know from what I saw yesterday on the e-quotes, Progressive for instance, came in $1600 cheaper than our current company is for the same truck, plus our other vehicles, and with the teenager. My jaw dropped when she gave me the quote for ours. We have max coverage on everything, so I knew it wouldn't be cheap, but unless I am blind, the Progressive coverage was identical- in fact they had a lower deductible- $500 vs  our current $750. So we'll see where we end up, but looks like we will be moving the auto. I can deal with $400 difference per 6 months, but I can't stomach paying $1600 MORE per six months! That's pretty insane. And it sounds like they now write for Progressive, so maybe we'll end up with them. Seems like their reviews are okay?? I hope?? We now own the truck, so no backsies at this point, LOL. Someone's gotta cover it! 

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1 hour ago, Æthelthryth the Texan said:

Well I am super impressed with my agent this morning. They're now writing with other companies besides Current Co. and she let me know right away that our company is sky high to add this truck, and even nuttier to add the teenager with it, so she's getting quotes with the others. I know from what I saw yesterday on the e-quotes, Progressive for instance, came in $1600 cheaper than our current company is for the same truck, plus our other vehicles, and with the teenager. My jaw dropped when she gave me the quote for ours. We have max coverage on everything, so I knew it wouldn't be cheap, but unless I am blind, the Progressive coverage was identical- in fact they had a lower deductible- $500 vs  our current $750. So we'll see where we end up, but looks like we will be moving the auto. I can deal with $400 difference per 6 months, but I can't stomach paying $1600 MORE per six months! That's pretty insane. And it sounds like they now write for Progressive, so maybe we'll end up with them. Seems like their reviews are okay?? I hope?? We now own the truck, so no backsies at this point, LOL. Someone's gotta cover it! 

You have probably already made your decision, but Progressive is very difficult to work with on auto claims.  After working for a collision shop owner for 5 years I will never have anything except State Farm.  In fact every employee there has SF.  

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Also as far as claims go, the agents rarely have any control over any claim. .  It really is not like it used to be.   Now everything is handled through a central claims office for every Insursnce company we deal with.  

Edited by Scarlett
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1 hour ago, Æthelthryth the Texan said:

Well I am super impressed with my agent this morning. They're now writing with other companies besides Current Co. and she let me know right away that our company is sky high to add this truck, and even nuttier to add the teenager with it, so she's getting quotes with the others. I know from what I saw yesterday on the e-quotes, Progressive for instance, came in $1600 cheaper than our current company is for the same truck, plus our other vehicles, and with the teenager. My jaw dropped when she gave me the quote for ours. We have max coverage on everything, so I knew it wouldn't be cheap, but unless I am blind, the Progressive coverage was identical- in fact they had a lower deductible- $500 vs  our current $750. So we'll see where we end up, but looks like we will be moving the auto. I can deal with $400 difference per 6 months, but I can't stomach paying $1600 MORE per six months! That's pretty insane. And it sounds like they now write for Progressive, so maybe we'll end up with them. Seems like their reviews are okay?? I hope?? We now own the truck, so no backsies at this point, LOL. Someone's gotta cover it! 

 

Isnt the teen already covered as a driver, so that you are mostly just adding the truck? ¬†Or is it a problem that she becomes primary driver of the truck? ¬†If latter, be sure to check if she‚Äôd be lower cost as ‚Äúprimary driver‚ÄĚ on any other of your vehicles since you all may drive any family vehicle.

check Even if it seems unlikely to you.   You’re probably right, but perhaps not.  

Whether Progressive is just as good but less expensive depends on what you have currently.  

I wonder if actually moving away might then elicit a better deal from current co

did you check Geico as comparisons?

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The saga continues. Our current company won't continue our umbrella if they don't hold our auto policy. Progressive won't cover our umbrella because we own a Doberman. We'll switch eventually, but looks like there is more to it than just transferring over until our agent finds someone else to carry the umbrella at a minimum. Our homeowners is going to go up too, but only $180 which is far less than the $3200+ difference a year on the auto (assuming the umbrella policy is doable). Our agent is on the hunt though, so we'll just go through this month with who we have and move over when the has the umbrella sorted out, as we can't go without that. Right now I'm really glad to have an agent. This is all so confusing and so many caveats that are hard to see online, or even to know to ask! 

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51 minutes ago, Pen said:

 

Isnt the teen already covered as a driver, so that you are mostly just adding the truck? ¬†Or is it a problem that she becomes primary driver of the truck? ¬†If latter, be sure to check if she‚Äôd be lower cost as ‚Äúprimary driver‚ÄĚ on any other of your vehicles since you all may drive any family vehicle.

check Even if it seems unlikely to you.   You’re probably right, but perhaps not.  

Whether Progressive is just as good but less expensive depends on what you have currently.  

I wonder if actually moving away might then elicit a better deal from current co

did you check Geico as comparisons?

Dd isn't currently on as a driver because she only has her permit. We were waiting to get her her own vehicle to get her the official license. At least where we live, they don't add $$ on your insurance policy until the official DL is issued. She just needs to go to the DMV to make it official-  we've already done all of the drivers ed etc. There was just no need to pay it until she "had" to have it if that makes sense. 

Apparently with current company, they don't care about customer loyalty from what agent is saying. But she said it always fluxes year to year who is cheapest/who is more expensive so she'll continue to run all of the rates ever 6 months when we renew because that may change and maybe we will move back at a point. Apparently new customers get cheaper rates than long term customers with this carrier from the sounds of it. Sounds like a PP mentions- I guess they take us for granted. We are sort of hostage on the homeowners from the sound of it. 

 I have asked some friends who used to have Geico and every single one said stay away, so I didn't get a quote from them. 

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Maybe all of these shenanigans are for the best. I called State Farm on a lark and turns out they are now writing homeowners policies out here, and could include our wind policy on our homeowners which might save us a ton from having to have a separate wind policy. We had them 20 years ago before we moved out here and they were great to deal with, so fingers crossed they are affordable and maybe I can just port everything to them. 

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1 hour ago, Pen said:

https://www.insurance.com/auto-insurance/life-events/car-insurance-for-young-adults.aspx

state by state averages for adding minimum required coverage for a teen driver

Well that makes things make a lot more sense. We're with Farmer's! Guess they aren't fans of the teenagers. That table makes me more optimistic about State Farm though! I can't wait to see the quote. 

ETA- I also cannot imagine insuring a kid in CA at those rates. OMG. 

Edited by Æthelthryth the Texan
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What's an umbrella policy? In the UK we have separate policies for cars, house, life but nothing called an umbrella. Is it public liability? Here that's written into each policy.

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2 hours ago, Laura Corin said:

What's an umbrella policy? In the UK we have separate policies for cars, house, life but nothing called an umbrella. Is it public liability? Here that's written into each policy.

 

It ‚Äúumbrellas‚ÄĚ over car and house policy if claim¬†(usually liability for 3rd party injury) *exceeds*¬†the regular car or house policy‚Äôs liability coverage.¬†Sometimes they‚Äôll cover some other things not normally covered as well. ¬†For example perhaps each of car and house has a max of $500,000, umbrella could provide a $million coverage and wouldn‚Äôt be restricted by whether it was a car or house related claim

 

possibly does exist in Ukraine too:

https://www.insurancebusinessmag.com/uk/commercial-insurance-coverage-area/umbrella--excess-29/

Edited by Pen
Ukraine should be UK - autocorrect. Sigh
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2 hours ago, Pen said:

 

It ‚Äúumbrellas‚ÄĚ over car and house policy if claim¬†(usually liability for 3rd party injury) *exceeds*¬†the regular car or house policy‚Äôs liability coverage.¬†Sometimes they‚Äôll cover some other things not normally covered as well. ¬†For example perhaps each of car and house has a max of $500,000, umbrella could provide a $million coverage and wouldn‚Äôt be restricted by whether it was a car or house related claim

 

possibly does exist in Ukraine too:

https://www.insurancebusinessmag.com/uk/commercial-insurance-coverage-area/umbrella--excess-29/

Yes. This. Exactly. We carry the maximum coverages across on auto, but because that can still very well leave you open to litigation here, . An umbrella policy would cover any overages. Say someone googled you after a wreck, saw you occupation or net worth and decided to sue for ridiculous damages- the umbrella policy is one way to protect assets. Or if you (or your family member) cause a multi-vehicle accident that exceed that coverage, again, umbrella policy. I believe umbrellas are sold in million increments, but there may be other options. 

In TX, you are required to carry minimum limits, but most of them are so low they wouldn’t cover the cost of a wreck if you hit and totaled out a new car. I think it’s like $25,000 or $30,000 as the minimum. That’s not going to cover much when the average vehicle price around here is double to triple that. So to protect assets, you max out your auto coverage (varies by company I think) and then by an umbrella policy to do the rest. They aren’t expensive and it’s an easy way to protect your net worth should a litigious person fall into your life. Or on your property. Or in your pool. 

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We got the quote back from State Farm and they are $300 cheaper a MONTH than Farmers for auto and were even cheaper on our homeowners to boot,¬†¬†allowing us to roll out wind coverage under that instead of being a separate policy! This is huge! Looks like we are switching. Even the umbrella policy is a couple of hundred cheaper! It's like the truck paid for itself with the savings.¬†ūüėā I'd have never called otherwise.¬†¬†

@Scarlett thanks for mentioning them again and how good they are on claims. What you mentioned and @Pen helpful links were what had me call to confirm they still weren't writing policies out here. I'm glad I made the call and didn't assume what held true five years ago was still correct. We had them on previous properties and they were always great to work with so I'm glad to be going back. Farmers has been good too, but they obviously don't want the business of people with teen drivers. 

If anyone else has an upcoming teen driver, you might want to give them a call for a quote They were even cheaper than Progressive. 

Edited by Æthelthryth the Texan
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2 minutes ago, Æthelthryth the Texan said:

We got the quote back from State Farm and they are $300 cheaper a MONTH than Farmers and were even cheaper on our homeowners to boot, allowing us to roll out wind coverage under that instead of being a separate policy! This is huge! Looks like we are switching.

@Scarlett thanks for mentioning them again and how good they are on claims. What you mentioned and @Pen helpful links were what had me call to confirm they still weren't writing policies out here. I'm glad I made the call and didn't assume what held true five years ago was still correct. We had them on previous properties and they were always great to work with so I'm glad to be going back. Farmers has been good too, but they obviously don't want the business of people with teen drivers. 

If anyone else has an upcoming teen driver, you might want to give them a call for a quote They were even cheaper than Progressive. 

Great news!  I do love SF.  I value them so much that we don’t file claims unless it is something big.  Or something that is not held against us like hitting a deer or hail. We keep our deductibles high as well.  $1000 on vehicles and 2000 on home. 

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I don’t know if I have mentioned this before but my xh has our son insured full coverage for about $140 a month.  And we have dss18 covered liability only for $60 per month.  I think both of those costs are amazing.  I think this is one of the ways they build brand loyalty.  

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1 hour ago, Scarlett said:

I don’t know if I have mentioned this before but my xh has our son insured full coverage for about $140 a month.  And we have dss18 covered liability only for $60 per month.  I think both of those costs are amazing.  I think this is one of the ways they build brand loyalty.  

Yes! She's only going to cost us $100 a month for maxed out full coverage. I told my Mom and she said i needed to call them back because something must be wrong with the quote, LOL. 

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40 minutes ago, Æthelthryth the Texan said:

Yes! She's only going to cost us $100 a month for maxed out full coverage. I told my Mom and she said i needed to call them back because something must be wrong with the quote, LOL. 

 

Big improvement!

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On 6/16/2019 at 4:17 PM, Pen said:

 

In what sense?

 

Down?   Do you know why?

 

Geico's rate is lower, but so is their coverage.  When dh and I first got together 20 years ago, he had Geico.  I looked at his policy, and while his rate was lower than mine, his coverage was lower too.  I had auto through State Farm so we switched him over to that, and combined with life insurance the rates weren't bad.  But the rates seemed to keep going up over the years despite no changes and no claims, so I decided to shop around.  When I looked at Geico again, their rate for our same level of coverage was higher.  The lower rate only comes with lower coverage.  We ended up going with Progressive, and we've been very happy.

My best guess for why the rate went down: It's been a year since we added ds to the policy, this small claim is the only one we have had in many, many years, and his driving skill prevented his accident from being much worse than it could have been on those slippery roads.  He actually managed to get the car back under control and into his proper lane of travel after it slid across the road and over a snowbank/reflector a mile or two from home.  The claim was because the reflector tore off a piece of his bumper and pierced his transmission filter.  He almost made it home before the transmission fluid had all leaked out.  We didn't know the filter was the only problem, so filed a claim in case of a bigger transmission repair.  It ended up costing them less than $1000 for the entire claim.

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I'd definitely call around for insurance quotes. We've never split up our coverage because we get discounts by having all with one carrier. 

Insurance companies got wise to parents not being truthful about who was the primary driver on each car when they added teens or new vehicles to their policy, so some are switching to a system where all drivers are on all vehicles. 

However, our insurance now has costs for each vehicle based on state/federal/whatever data on claims for that same vehicle configuration - which is why a 2011 manual sporty car is basically the same cost to insure as a 2014 Automatic grandma car with more coverage. 

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We switched to State Farm! I know the rates will go up every year, but right now they were a bargain. And you guys have no idea how awesome it is to not have to buy a separate windstorm policy- those companies are all shady because they no you have no other options- or even worse, TWIA the corrupt and bankrupt state org. 

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I know you already made your change but I want to warn others who are considering changing to be sure to look at the full cost and consequences. We are literally in a situation right now wherein my hubby changed our auto insurance and it directly lead to us being on the verge of losing our house.. It is a long and complex string of events and I don't even know if this could possibly happen to anyone else but I will probably post about it seperately just in case.   

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4 minutes ago, KidsHappen said:

I know you already made your change but I want to warn others who are considering changing to be sure to look at the full cost and consequences. We are literally in a situation right now wherein my hubby changed our auto insurance and it directly lead to us being on the verge of losing our house.. It is a long and complex string of events and I don't even know if this could possibly happen to anyone else but I will probably post about it seperately just in case.   

 

 

OMG !  How awful, I hope you will post and explain more.  

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Oh geez @KidsHappen- i just read your thread. That's horrible. I hope you get it all straightened out. I think we are okay on that end because we don't have an escrow account and pay everything up front, but I'm glad you shared it for others. That's a cautionary tale going forward that will help someone. We've seen something similar happen to one of dh's co-workers over property taxes, but I had no idea it could on insurance. 

(And I'll delete this post later for your privacy.) 

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