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Old 12-24-2015, 01:08 PM   #21
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Yep, we've had to play this game every few years also. The last switch was about 3 years ago, to AAA, and so far the rates have remained about the same (very small increase, maybe). So, I will stay with them until they start raising rates too quickly. I have yet to file a claim with AAA, so I can't vouch for their service.

Based on several posts in this thread, it sounds like Progressive would be one to go to next, if I have to. I have no experience with them.

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Old 12-24-2015, 01:29 PM   #22
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Some insurance companies are notorious for raising rates until they lose too much business then lower the rates again to where they maximize their profit and keep their better customers. Travelers, for one, is very good at this tactic. Some companies are regional companies and are not available in all states, such as Amica, Country Companies, Auto owners, etc.

Most insurance companies have been losing money on commercial and personal auto insurance for the past few years and are raising rates to get back in the black. They no longer price their business on whether you are a good customer or not, they price according to zip code, "insurance score" (like a credit score, but different") , age and other factors. Some companies are very stable and only raise rates when profitability suffers and others go for the max they can get away with. Insurance pricing is getting like medical treatment. They no longer treat you as a patient but prefer to treat you as a member of a population and you get what the population gets. Insurance is sort of the same way.

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Old 12-24-2015, 01:40 PM   #23
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I have AAA and their service is. Rey good. But I expected a decrease but got an increase, so I have to call them. I pay less than $400 a month but very high coverage,maybe I don't need them that much. 4 cars and 4 drivers.

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Old 12-24-2015, 09:27 PM   #24
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Insurance companies often price their auto and homeowners' premiums by loss ratios state by state. My state has sky high homeowners' policies because we have the Gulf Coast--but 400 miles from my house. I'm paying high premiums because of a hurricane potential--and for what happened 10 years ago.

I've been watching my "replacement" homeowners policies increase 15% to 20% per year, and I'm paying by the $1,000's. My house ended up being insured for almost 2x what it cost to build--and I was paying out the nose. But if my house burned down and I chose not to rebuild, they might pay me retail value but not the "replacement cost" I'm paying premiums on. It's just not right.

Their other angle is if you want to insure a house, they'll only write the coverage at normal rates if they also have your cars insured. Met Life charged me 2x a normal rate on a 13 year old pickup truck because I didn't have 2 cars insured with them.

I finally insured my 2 most expensive homes and 2 cars with Allstate, and my daughter's house and 2 cars with State Farm. Allstate's deteriorated as a company in recent years, but my local auto adjuster is supposedly great. Now I'm looking for them to up my premiums after 1 year of "teaser rates."
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Old 12-28-2015, 03:24 AM   #25
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I've had Geico auto insurance for almost 30 years. In all that time, my only claim was a window chip a couple of months ago. It was a minor incident and they handled it fine. We shopped around for insurance a year or so ago and didn't find a better option. So, they been taking my money and I've been assuming we're covered. So, far it's worked.

At least for now, I'm a Geico customer. Apparently, there's up to an 8% discount available for Geico customers if they own Berkshire Hathaway stock. Geico Car Insurance 8% discount for owning berkshire hathaway stocks YMMY -

I've made a minor contribution to Warren Buffet's success. Perhaps, there is a little reciprocity, I'm considering buying a share of BRK.B to get this discount. Any comments? I also have a Geico Umbrella policy. Do I get a discount there?

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