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Old 05-15-2018, 06:57 PM   #1
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Insurance

Not happy with my current insurance company (home owners, auto, motorcycle & umbrella). If your satisfied with your current insurance co let me why and what company.
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Old 05-15-2018, 07:20 PM   #2
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It would help if you told us why you are not happy. Premiums, billing problems, customer service , etc have each prompted me to switch providers over the years. Above all it seems that rate creep after a few years causes me to switch. Currently have Nationwide for the past 3 yrs after switching from State Farm which saved 50% on homeowners.
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Old 05-15-2018, 07:28 PM   #3
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It would help if you told us why you are not happy. Premiums, billing problems, customer service , etc have each prompted me to switch providers over the years. Above all it seems that rate creep after a few years causes me to switch. Currently have Nationwide for the past 3 yrs after switching from State Farm which saved 50% on homeowners.
Basically service but insurance is one of my top expenditures. if I'm not getting good service for my money, I either want to pay less or get better service, preferably both.
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Old 05-15-2018, 07:39 PM   #4
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I’ve been with Allstate for auto but their rates kept creeping up, hung in for a couple years until it hit $660 for 6 months then I switched to Geico and all it took was 15 minutes, $337 for 6 months
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Old 05-15-2018, 07:58 PM   #5
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Don't ask me about the service as I never have claims(knocking on wood). I recently changed from American Family 1850.00 per year for 2 cars and homeowners to Esurance 1060.00 for increased coverage on Homeowners and same on autos. Renewed once and about a 3% increase so not much upward movement at this time. I like to save money and will check other companies every year to make sure I am not a victim of premium creep.
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Old 05-15-2018, 08:08 PM   #6
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Insurance does not reward loyalty. Go to an independent broker and have them shop your insurance every year and move at will. Staying with a carrier long term is like committing harry carry.
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Old 05-15-2018, 08:21 PM   #7
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Insurance does not reward loyalty. Go to an independent broker and have them shop your insurance every year and move at will. Staying with a carrier long term is like committing harry carry.


Good point plus a broker can add value in terms of service (which is more than just claims). I got my policy through a broker and when daughter moved out and got her own policy she stayed with the carrier but didn't use the broker. The state fined her for lapse in coverage and the carrier was unable to resolve the issue. The broker intervened (even though he had lost her business) as a courtesy and resolved the issue.
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Old 05-15-2018, 08:33 PM   #8
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Insurance does not reward loyalty. Go to an independent broker and have them shop your insurance every year and move at will. Staying with a carrier long term is like committing harry carry.
+1
Bad things can happen by staying loyal.

We had a dishonest agent who lied to Lexisnexis about who was at fault when I was rear ended. I'm sure this wasn't the first time he had done it, just we caught him this time.

I had to go around him and to the adjuster to protest my report. He did this crap to keep long term folks locked in. If you didn't dig suddenly his insurance was cheaper even though he was not near the best priced option.
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Old 05-15-2018, 08:49 PM   #9
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Our state about every 10 years has a hurricane and we pay out the nose for homeowner's insurance even though the Gulf is 400 miles south. We have to link cars/trucks together before we can even get homeowner's coverage.

That said, I change companies every 3 years or so. Rates start off low, but quickly escalate as they quickly up coverages on replacement value on homeowners. Look up and homes are insured for twice their worth and I am.laying "by the $ thousand". But if I had a total loss and chose not to replace the home, I might only get paid 75%--far.lower than the premiums I am paying.

Most of the major companies are somewhat generic.
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Old 05-15-2018, 08:54 PM   #10
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We have USAA. Auto, home, and umbrella. I’ve never had to file a claim though. We did have a windshield replaced with no charges.
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Old 05-16-2018, 12:10 AM   #11
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We recently switched to Goosehead. I've always used an independent broker as usually they have more options and are a bit more knowledgeable and can sometimes find coverages for unusual situations than someone like say, State Farm, can't do.

We are about to buy a new house and my quote was really high for coverage. I had not been that happy with my agent as I didn't feel I was actually getting options with more than one company. Goosehead was suggested to me and I got a quote. I was happy that I got options for more than one company. I did have something that I wanted that not all companies offer and I was offered a good option for that. So, I decided to place my coverage for Goosehead. They do also represent the same insurer that I have for my auto and umbrella so I kept that coverage in force but changed the handling to Goosehead.

I was happy that the new agent seemed eager to help me and was able to find me several options to consider.
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Old 05-16-2018, 04:28 AM   #12
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We have USAA. Auto, home, and umbrella. I’ve never had to file a claim though. We did have a windshield replaced with no charges.
+1 Had USAA for many years. I had never filed a property claim till last year after some hail damage to a 20 year old roof. They sent a check within about 10 days. The adjuster added in perceived damage to deck and gutters. Gutters had minor dings you wouldn't notice and they paid for clean and stain of the deck. We have 2 homes and 3 cars, pay $2K for homes and about $600 for liability on autos. There is also a rebate each year of about $400-$500.

One question for those on the forum, USAA has the rebates added to a subscriber savings account I think it is called. Then they distribute a portion of the current rebate. If I leave USAA is that gone ?
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Old 05-16-2018, 01:12 PM   #13
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We've been happy with AAA. Good service on a claim we had with them a while back, and the rate creep has not been too bad. Having said that, however, I agree with others that you do need to watch for rate creep, and be willing to change companies if and when necessary. Just make sure you do not give up good service for the company with the lowest rates, however (see below).

One company I would NOT recommend is Progressive. DD had a horrible experience with them a couple years back. Took over a year to get paid for an auto accident claim, and even then they only paid a fraction of what the car was worth (it had been totaled). Also, they play games (or are incompetent) with billing and payments....told her her insurance had been cancelled for non-payment, when in fact she had not missed a single payment, and was able to prove it.
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Old 05-16-2018, 02:34 PM   #14
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1) I'm told those brokers others speak of are sometimes incentivized by their underwriters better for certain lines than others, so they may not actually be looking out for your best interest.
2) I'm told loyalty can pay off if you have a claim. They'll look at how long you've been a client, how well you've paid your bills, how much property you have insured with them, and more in deciding if they'll pay a claim, if they'll drop you as a client, and if they'll raise your rates. This came from an agent who doesn't have my business, so it is not in his best interest to say this.
3) The same agent also told me that, especially on autos, they do do introductory rates to get you in the door. At his company, it takes 5 years to get up to 'full price'. His company quotes 15% under 'full price' for new clients, other carriers may do 30%-35% (meaning more increases over that 5 years).

I've been with Farmers for about 2 years now, and I've been very happy with them. I saved a ton of money when I switched form Allstate who I had been with for 11 years prior. Allstate did have a new policy that was cheaper - but my agent only told me about it once I was shopping. Furthermore... it was still more expensive than Farmers for me at the time.

I typically shop my insurance every 10 years or whenever I buy a new home, whichever comes first. I'm not interested in switching every year... I also like the dissappearing deductible many carriers now offer if you stick with them.

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Old 05-16-2018, 02:42 PM   #15
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1) I'm told those brokers others speak of are sometimes incentivized by their underwriters better for certain lines than others, so they may not actually be looking out for your best interest.
2) I'm told loyalty can pay off if you have a claim. They'll look at how long you've been a client, how well you've paid your bills, how much property you have insured with them, and more in deciding if they'll pay a claim, if they'll drop you as a client, and if they'll raise your rates. This came from an agent who doesn't have my business, so it is not in his best interest to say this.
3) The same agent also told me that, especially on autos, they do do introductory rates to get you in the door. At his company, it takes 5 years to get up to 'full price'. His company quotes 15% under 'full price' for new clients, other carriers may do 30%-35% (meaning more increases over that 5 years).

I've been with Farmers for about 2 years now, and I've been very happy with them. I saved a ton of money when I switched form Allstate who I had been with for 11 years prior. Allstate did have a new policy that was cheaper - but my agent only told me about it once I was shopping. Furthermore... it was still more expensive than Farmers for me at the time.

I typically shop my insurance every 10 years or whenever I buy a new home, whichever comes first. I'm not interested in switching every year... I also like the dissappearing deductible many carriers now offer if you stick with them.

MIMH
Have two brokers give you quotes. Problem solved. If you bid them out every 10 years you are probably paying too much. Take advantage of those introductory rates you talk about. We switch all the time. My wife had $9000 worth of hail damage within 2 months of switching to Auto Owners. They paid the claim without a hassle. All the reasons to not bid it out is noise created by insurance agents to scare you into staying.
I have zero loyalty when it comes to insurance.
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Old 05-16-2018, 03:50 PM   #16
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Have two brokers give you quotes. Problem solved. If you bid them out every 10 years you are probably paying too much. Take advantage of those introductory rates you talk about. We switch all the time. My wife had $9000 worth of hail damage within 2 months of switching to Auto Owners. They paid the claim without a hassle. All the reasons to not bid it out is noise created by insurance agents to scare you into staying.
I have zero loyalty when it comes to insurance.
I hear you, but I'm not sure hail is a good claim example. There is almost no potential 'fault' in hail damage. Wait until your house fire, or you cause a 10 car pile up, or some other six-seven digit payout by your insurance... then I'm not so sure about the zero loyalty approach. I've heard a fair share of horror stories from others. Just today I heard one where someone got dropped just for having an adjuster out to say there was no damage!

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Old 05-16-2018, 04:12 PM   #17
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I hear you, but I'm not sure hail is a good claim example. There is almost no potential 'fault' in hail damage. Wait until your house fire, or you cause a 10 car pile up, or some other six-seven digit payout by your insurance... then I'm not so sure about the zero loyalty approach. I've heard a fair share of horror stories from others. Just today I heard one where someone got dropped just for having an adjuster out to say there was no damage!

MIMH
The risk of 10 car pile ups are why I carry LOTS of umbrella coverage.
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Old 05-17-2018, 01:17 AM   #18
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How do you find a good broker or two to get quotes?
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Old 05-17-2018, 05:02 AM   #19
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How do you find a good broker or two to get quotes?
I would see the recommendations on Nextdoor. Your neighbors will tell you who is good or bad. I find all my service related businesses on there, plumbers, appliance repair, etc. Haven’t been disappointed yet.
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Old 05-17-2018, 12:16 PM   #20
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A couple of years ago we switched from State Farm to Farmers. Savings annually around $250 per year over State Farm rates, mainly due to Farmers homeowner's rates being about half of what State Farm was charging us.
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