Car/Home/Umbrella Insurance Recommendations?

[Marita40]

One of those years when I really need to call around for better rates. Currently have State Farm and hate the constant rate creep with no explanation, no claims ever, etc.

Wondering whether anyone has recommendations. My short list so far:
Amica
Travellers
Metlife
Liberty Mutual
Farmers
Nationwide



Thanks!

 

[ExFlyBoy5]

We have been with Amica for several years and have been happy. They too have rate creep...but tell me what company doesn't...I don't think it exists. There are explanations, and they are reasonable (lots of storms, more complex and expensive cars, more accidents from distracted drivers) in my mind. Do I like the increases? Of course not, but USAA mentioned last year that in the first time in the HISTORY of the company, they paid out more in claims than they took in premiums in 2016.

At any rate, most of the good financial folks out there will tell you to rate shop every couple of years, and don't become a huge fan of a company...as brand loyalty will not get you any savings.

 

[COcheesehead]

Find a broker who will shop it for you. Nextdoor is a good source for finding a broker based on your neighbor's recommendations and experience.
My current insurance isn't through any of the ones you have listed, though they offered the best rates and did fine by us on our only claim. Bid your insurance every two years, at least.

My broker found these guys.

https://www.auto-owners.com/

 

[DrRoy]

I have had State Farm for decades. Have not found anything worth switching to. Rates creep but still seem good.

 

[Dtail]

I have had State Farm for decades. Have not found anything worth switching to. Rates creep but still seem good.

+1 except for me it is Liberty Mutual plus for car insurance you are allowed 1 accident every 5 years with no associated rate increase.

 

[candrew]

Have been with Farmers for 3 years. At annual renewal time last December I shopped for a better deal with an independent agent. Farmers still had the best rates for the coverage we wanted.

 

[pb4uski]

We use an independent agent and have been with Cincinnatti Insurance Co for quite a while... perhaps as long as 10 years.... I have them shop it every other year or so and Cincinnati is always the most competitive.

 

[mamadogmamacat]

Have Allstate now, and the rate creep was not too bad the past two years. Had State Farm before that, rate creep was terrible with them. Before that had Guide One through a broker. Low rates, but they skyrocketed back when I had my first accident ever in my life (where I was at fault), a parking lot fender bender.

Will shop around and may try a broker again, if/when the Allstate rate creep becomes too high. I do have "accident forgiveness" with Allstate as i also did with State Farm, so that may be a factor in the rate creep, at least with State Farm anyway.

 

[capjak]

country financial companies

 

[bizlady]

We have been really happy with WestBend

 

[Bamaman]

When rates creep, I move my business. Amica and USAA are the highest rsted. I have pulled my business from Met Life as they were sub par.

I was in the car business 24 years and had to often mediate claims for customers. Farmers Insurance Group gave me more trouble than all other companies combined.

 

[Golden sunsets]

We are with State Farm and have not noticed any rate creep on auto or umbrella liability. In fact auto rates have declined marginally, I assume that is due to declining auto value. The home owners policy increases each year due to the inflation factor built in (5 percent I believe). For the past two years I have had them scale back coverage to the prior year's coverage so that there has been no premium increase. We are able to do this only as long as we feel the coverage is sufficient and State farm's calculation tool supports the math. Our home has increased in value but the coverage was greater than it needed to be to begin with. Don't forget land value need not be insured, just replacement cost of the structure.


Sent from my iPad using Early Retirement Forum

 

[Newventurer]

I had the same issues with not rate creep but rate skyrocketing. Went to an Independent Agent who placed us with Hanover and saved $1200 yr on home/auto from what we would have paid with then current company after increase.

I never would have shopped Hanover on my own.

 

[athena53]

Another vote for independent agents. Mine isn't independent- he's exclusively Farmers. I've been happy with Farmers and especially the agent (never had a claim so I can't tell you how they are there), but in order to remain competitive they've cut agent commissions to the bone. He's got his house on the market so they can downsize and had to let a staff member go. When he retires in a couple years I'm outta there. I was in the property-casualty insurance business for 38 years so I need my hand held less than most, but my agent was really good about explaining what coverages were in my policy. They're not all created equal. I want that expertise. Id get rate creep. It happens.


DS worked for a unit of Nationwide and they treat their claimants pretty well. He left because he felt the management in HQ was going in the wrong direction for his unit (Commercial, not Home/Auto business) and they were losing money. His new employer (not listed above), he said, fights claims to the mat by comparison. They still provide what the policy promised but not a penny more.

 

[mrfeh]

Also been with State Farm forever. Coincidentally, I met w/ a broker a couple days ago to see if we can get better prices for the same coverage.

Expecting to hear back today or Monday.

 

[VanWinkle]

We use an independent agent and have been with Cincinnatti Insurance Co for quite a while... perhaps as long as 10 years.... I have them shop it every other year or so and Cincinnati is always the most competitive.

Watch out for companies offering agents increased commission as that company always seem to get chosen by the independent agents. I would also do your own premium check every few years just to make sure the agent is not doing whats best for him. (I have been an agent in the past)

 

[greydog17]

You should definitely get quote from Hartford-AARP, been with them for auto, home and umbrella for years, great service and minimal rate creep. My neighbor just switched there and saved $ too.

 

[coveredbridge]

I know GEICO has its detractors, but I switched from Farmers recently and saved about $800 per year. I think the best fit depends a lot on one's individual risk profile and situation.

 

[tdv2]

I know GEICO has its detractors, but I switched from Farmers recently and saved about $800 per year. I think the best fit depends a lot on one's individual risk profile and situation.

I have Geico for auto and umbrella.....premiums are very attractive here in Jersey.

 

[rdy2go]

If I lived in Minnesota, I would find an agent that represents the better regional companies in the Midwest. I would look for an agent that represents Acuity, UFG or Country Companies, not in any order. I think that you will find the regional companies to be easy to deal with, have local adjustors and knowledgeable agents.

 

[Katsmeow]

I like using an independent agent. When I went to purchase my new home I got a quote from Goosehead (I believe it is franchised) and it had better rates than I had with my prior agent and had more choice of different carriers. I was able to pick a carrier that had what I needed and had a price that I thought was good. I haven't shopped auto/umbrella with them yet but I was happy on the homeowners piece.

 

[braumeister]

As others have said, there are so many variables involved that it's very difficult to make an apples-to-apples comparison by talking with others.

I've been with USAA forever, and I've been a bit concerned with how much my rates have risen in the last few years. Although in fairness, I moved from a state with historically low rates to one with high rates (Ohio to Kentucky).

So when someone on this forum commented that they saved a bunch by switching from USAA to Amica, I got a quote from them. Much to my surprise, for the identical coverage Amica wanted nearly twice as much as I pay USAA. So the devil is in the details and you have to just look at everything.

 

[meierlde]

One question on rates how much of the increased is due to the increased coverage limits? It should be noted that the value of a home on the market may or may not bear much resemblance to replacement cost. You can find online construction cost estimators. Also note that significant damage could result in having to bring the entire structure up to modern code which there is a rider available for. One simple example (not terrible expensive) would be that a house built in the 1970s would not have GCFI protection on outlets in the Kitchen and Bathrooms, but after significant damage you would have to upgrade to that. (Bigger costs could be additional wind resistance, having to raise the house due to flooding etc)

 

[aida2003]

We've been with Erie Insurance for 15 years, but this co. isn't in all states. None of other companies have managed woo us away. Hopefully, it will continue this way for years to come.

 

[mrfeh]

Also been with State Farm forever. Coincidentally, I met w/ a broker a couple days ago to see if we can get better prices for the same coverage.

Expecting to hear back today or Monday.

Got the results today - the independent insurance agent couldn't find a company that beats our current prices w/ State Farm.