Join Early Retirement Today
Reply
 
Thread Tools Search this Thread Display Modes
Can I save money by going from Allstate to Costco insurances?
Old 06-09-2014, 07:00 PM   #1
Thinks s/he gets paid by the post
robnplunder's Avatar
 
Join Date: Nov 2013
Location: Bay Area
Posts: 2,124
Can I save money by going from Allstate to Costco insurances?

I have house, auto, and umbrella insurances with Allstate. I keep getting "reminders" from Costco to go with their insurance but have been too lazy to give them a call. Have anyone done that or something similar? Is there a real saving going with Costco insurance? I don't want to waste 1/2 hour working with Costco rep only to find out there is not much saving. Any help or sharing of your experience would be much appreciated.

(Trying to lower my expense before going to RE)
__________________

__________________
Pura Vida
robnplunder is offline   Reply With Quote
Join the #1 Early Retirement and Financial Independence Forum Today - It's Totally Free!

Are you planning to be financially independent as early as possible so you can live life on your own terms? Discuss successful investing strategies, asset allocation models, tax strategies and other related topics in our online forum community. Our members range from young folks just starting their journey to financial independence, military retirees and even multimillionaires. No matter where you fit in you'll find that Early-Retirement.org is a great community to join. Best of all it's totally FREE!

You are currently viewing our boards as a guest so you have limited access to our community. Please take the time to register and you will gain a lot of great new features including; the ability to participate in discussions, network with our members, see fewer ads, upload photographs, create a retirement blog, send private messages and so much, much more!

Old 06-09-2014, 07:15 PM   #2
Full time employment: Posting here.
 
Join Date: Jul 2011
Posts: 721
I haven't checked out Costco's program. But in our area, Allstate seems to be pretty expensive. I think it would be worth your time to check it out. I'd go one step further and contact a broker to shop the rates of several insurance companies. I was able to save quite a bit overall between home, auto and umbrella.
__________________

__________________
panacea is offline   Reply With Quote
Old 06-09-2014, 09:04 PM   #3
Recycles dryer sheets
 
Join Date: Dec 2013
Posts: 366
I received a Costco change your insurance letter last week. The insurance company listed as their partner here is Ameriprise.
__________________
springnr is offline   Reply With Quote
Old 06-10-2014, 08:35 AM   #4
Give me a museum and I'll fill it. (Picasso)
Give me a forum ...
travelover's Avatar
 
Join Date: Mar 2007
Posts: 9,899
Quote:
Originally Posted by springnr View Post
I received a Costco change your insurance letter last week. The insurance company listed as their partner here is Ameriprise.
Right. As soon as I saw that name, I tossed the solicitation.
__________________
Yes, I have achieved work / life balance.
travelover is offline   Reply With Quote
Old 06-10-2014, 08:38 AM   #5
Recycles dryer sheets
 
Join Date: Aug 2011
Location: Atlanta
Posts: 420
Quote:
Originally Posted by robnplunder View Post
I have house, auto, and umbrella insurances with Allstate. I keep getting "reminders" from Costco to go with their insurance but have been too lazy to give them a call. Have anyone done that or something similar? Is there a real saving going with Costco insurance? I don't want to waste 1/2 hour working with Costco rep only to find out there is not much saving. Any help or sharing of your experience would be much appreciated.

(Trying to lower my expense before going to RE)
We got a Insurance Broker that was recommended by friends that have a
business that deal with Insurance Claims.

They can shop around and give you a number of quotes.

I forget how much they saved us but it was enough to change and the
new co. was highly rated
__________________
SJ1_ is offline   Reply With Quote
Old 06-10-2014, 11:38 AM   #6
Full time employment: Posting here.
 
Join Date: Mar 2008
Posts: 704
IMHO, I think everyone needs to shop around for insurance every few years. I did that last year and I was able reduce my cost by over 40%.

What I initially did was to get quotes online after I got the bill for another policy increase from Allstate. The quotes ranged between a 20-30% reduction. I was about to change, but I decided to give my independent agent one last shot and that's when we got the low quote from another company they represent.

It was close to cutting the cost in half. What we saved for 6 months for auto would almost pay for 1 year with the new company. Also, the refund from our homeowners policy (4 months in), was larger than the new premium.

I figure we'll do it again in another 3-4 years if our premiums go up like Allstate was doing to us.
__________________
akck is offline   Reply With Quote
Old 06-10-2014, 12:43 PM   #7
Thinks s/he gets paid by the post
 
Join Date: Aug 2005
Posts: 2,056
I used to have Allstate insurance back in the 1990's, when I was married. After the divorce, I never told the insurance company, so I kept the lower married rate.

I remember when I bought a 2000 Dodge Intrepid, in late 1999, it was $900 per year with full coverage, at the cheaper married rate. At least, I think married was still cheaper than single. Anyway, I switched to Erie Insurance Group, and that same car was $560 per year, and that was at the single rate!

So, I dunno about Costco, but maybe this is further evidence that Allstate is a bit on the pricey side?
__________________
Andre1969 is offline   Reply With Quote
Old 06-10-2014, 12:50 PM   #8
Full time employment: Posting here.
 
Join Date: Jul 2013
Posts: 568
I have Ameriprise through Costco (car and house) and it's significantly cheaper than anything else I ever tried (allstate, state farm, mercury, geico etc). YMMV
__________________
dvalley is offline   Reply With Quote
Old 06-10-2014, 01:37 PM   #9
Thinks s/he gets paid by the post
robnplunder's Avatar
 
Join Date: Nov 2013
Location: Bay Area
Posts: 2,124
Ok, so, instead of being lazy, I checked out Geico & Costco (Ameriprise) on on-line. I will have to deal with extra e-mails and unsolicited calls from them later.

Both Geico & Costco auto insurances are significantly cheaper than that of Allstate.
Home insurances were more on par for all 3 but Allstate was the cheapest, followed by Costco and Geico. Since all 3 gives discount on having multiple policies, it does not make sense to go with different companies for auto, house, umbrella insurances. I am now leaning toward switching to Costco insurances.

Thanks for those who responded. Others, please feel free to contribute if you have better ideas.
__________________
Pura Vida
robnplunder is offline   Reply With Quote
Old 06-10-2014, 02:08 PM   #10
Full time employment: Posting here.
 
Join Date: Mar 2008
Posts: 704
If you have your Allstate policies through an independent agent, call them and have them check the other carriers they represent (easier since they have your info). Our new policies were through Safeco which significantly reduced both our auto and homeowners premiums. You can check to see if they sell insurance in your area.
__________________
akck is offline   Reply With Quote
Old 06-12-2014, 07:27 AM   #11
Thinks s/he gets paid by the post
 
Join Date: Oct 2008
Location: Naples
Posts: 2,161
Thanking you in advance for the post about COSTCO offering auto insurance. I didn't know they offered it. However, every time I check out another company, there seems to be some hangup. Like, they are not writing policies in my state or my age bracket does not afford the best rate. I've checked the last three years and no one has been able to beat 21st Century. However, I'll give it one more shot by trying COSTCO.
__________________

__________________
JOHNNIE36 is online now   Reply With Quote
Reply


Currently Active Users Viewing This Thread: 1 (0 members and 1 guests)
 
Thread Tools Search this Thread
Search this Thread:

Advanced Search
Display Modes

Posting Rules
You may not post new threads
You may not post replies
You may not post attachments
You may not edit your posts

BB code is On
Smilies are On
[IMG] code is On
HTML code is Off
Trackbacks are Off
Pingbacks are Off
Refbacks are Off


Similar Threads
Thread Thread Starter Forum Replies Last Post
Allstate to axe 3300 agents mickeyd Other topics 16 02-04-2010 04:22 PM
Insurances ferco FIRE and Money 6 12-15-2009 09:31 PM
Drop or reduce insurances? pedorrero FIRE and Money 14 03-21-2009 04:49 PM
ALL- Allstate Insurance Hamlet Stock Picking and Market Strategy 1 10-09-2008 09:43 AM
Allstate/Suntrust nellieb Life after FIRE 35 03-16-2007 10:51 AM

 

 
All times are GMT -6. The time now is 08:03 AM.
 
Powered by vBulletin® Version 3.8.8 Beta 1
Copyright ©2000 - 2017, vBulletin Solutions, Inc.