|
|
03-03-2023, 07:34 AM
|
#21
|
Give me a museum and I'll fill it. (Picasso) Give me a forum ...
Join Date: Jun 2016
Location: Colorado
Posts: 8,971
|
Quote:
Originally Posted by Spanky
LOL - attract new customers but screw exiting customers?
|
Yep, in a nutshell. Loyalty does not pay in insurance.
|
|
|
|
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!
|
03-03-2023, 07:43 AM
|
#22
|
Thinks s/he gets paid by the post
Join Date: Oct 2014
Posts: 1,544
|
Quote:
Originally Posted by PatrickA5
Just got our State Farm bill for both cars this month.
Combined, they went down about 5%.
|
Interesting. We had State Farm for about 10 years back in the 90's. My buddy turned me onto USAA. When I went to cancel my State Farm, my agent said they couldn't touch USAA. But, that was 20+ years ago. I may have to look into this more.
__________________
-Big Dawg-FI since 9/2010. Failed ER in 2015. 2/15/2023=DONE! "Blow that dough"-Robbie
" People say I'm lazy, dreaming my life away Well, they give me all kinds of advice designed to enlighten me When I tell them that I'm doing fine watching shadows on the wall "Don't you miss the big time, boy. You're no longer on the ball" -John Lennon-
|
|
|
03-03-2023, 07:55 AM
|
#23
|
Moderator
Join Date: Feb 2010
Location: Flyover country
Posts: 25,358
|
Quote:
Originally Posted by Bigdawg
my agent said they couldn't touch USAA. But, that was 20+ years ago. I may have to look into this more.
|
I check into it every few years, but I have always been given the same response. There are occasional reports here that someone has been able to do better elsewhere, but I've never found it so.
__________________
I thought growing old would take longer.
|
|
|
03-03-2023, 09:02 AM
|
#24
|
Thinks s/he gets paid by the post
Join Date: Nov 2006
Posts: 1,640
|
Quote:
Originally Posted by Montecfo
My BIL recently told me his FILs advice on insurance was to get with State Farm and never leave.
In retrospect, BIL realizes that was not good advice.
|
I've had State Farm forever and have been fairly pleased.
I've shopped around over the years including using an independent agent a couple of years ago. Overall, nobody has been close to saving me money on the entire bill (2 cars, homeowners, umbrella). Some places save money on the cars (Geico, Progressive) but are way higher on homeowners. And some, the other way around.
I'll keep searching though.
|
|
|
03-03-2023, 09:52 AM
|
#25
|
Give me a museum and I'll fill it. (Picasso) Give me a forum ...
Join Date: Jun 2016
Location: Colorado
Posts: 8,971
|
Quote:
Originally Posted by PatrickA5
I've had State Farm forever and have been fairly pleased.
I've shopped around over the years including using an independent agent a couple of years ago. Overall, nobody has been close to saving me money on the entire bill (2 cars, homeowners, umbrella). Some places save money on the cars (Geico, Progressive) but are way higher on homeowners. And some, the other way around.
I'll keep searching though.
|
Find a good agent - read reviews - and let them shop for you. It’s their job.
|
|
|
03-03-2023, 11:51 AM
|
#26
|
Recycles dryer sheets
Join Date: Jun 2020
Posts: 123
|
My independent broker, who i trust a lot, found a little better price recently but recommended i stay where i was. He said a new company is more likely to drop you for a claim where you current one of 5 years would not. He said it’s worth a few $ to buy some insurance company loyalty.
|
|
|
03-03-2023, 12:06 PM
|
#27
|
Give me a museum and I'll fill it. (Picasso) Give me a forum ...
Join Date: Jan 2018
Location: Tampa
Posts: 11,299
|
Quote:
Originally Posted by Montecfo
Correct.
But even better to get an independent agent who will shop all of your insurance-annually if you desire.
That will save a ton of time and you keep the relationship with your agent even if you switch your insurance carrier.
|
Yes I do use a broker for the last year for all 3 insurances.
__________________
TGIM
|
|
|
03-03-2023, 12:37 PM
|
#28
|
Recycles dryer sheets
Join Date: Sep 2015
Posts: 318
|
Quote:
Originally Posted by RobertTN
I have heard from numerous brokers that rates will be going up significantly on auto insurance.
Read the following on State Farms' losses for 2021 and 2022, they are staggering, especially for their auto units: https://www.insurancejournal.com/new.../01/709886.htm
They will have to compensate somehow, and raising prices is an easy way...
|
They won't raise prices across the board, this is (was) also a case of taking on less than desirable business to maintain market share. SF is desperately trying to hold on to the title of largest auto insurer they have held since 1944. GEICO has been nipping at their heel for the last 20 years. But with UW losses this large, they will shed a lot of policies going forward.
|
|
|
03-03-2023, 02:02 PM
|
#29
|
Full time employment: Posting here.
Join Date: Nov 2008
Location: Jacksonville
Posts: 637
|
Quote:
Originally Posted by Sunset
Mine went up 25% for this next 6 month period , after another ~25% increase. No accidents/tickets.
I checked online with another insurance company and they were more expensive
|
I hear all these people that say shop around every year. BS........rates are going up everywhere!
Mike
|
|
|
03-03-2023, 03:39 PM
|
#30
|
Give me a museum and I'll fill it. (Picasso) Give me a forum ...
Join Date: Aug 2016
Location: Northern Virginia
Posts: 7,591
|
Quote:
Originally Posted by wrigley
I hear all these people that say shop around every year. BS........rates are going up everywhere!
Mike
|
Usually everyone does not raise the same for a variety of reasons. Even if everyone raises it makes sense to find the best deal.
|
|
|
03-04-2023, 02:03 PM
|
#31
|
Dryer sheet aficionado
Join Date: Jun 2014
Location: Tulsa
Posts: 36
|
I self insure my car with Hartford.
Pay around $350/yr.
Will cost more when I get a EV one day.
|
|
|
03-04-2023, 02:30 PM
|
#32
|
Give me a museum and I'll fill it. (Picasso) Give me a forum ...
Join Date: Aug 2013
Location: Texas
Posts: 10,941
|
Just got my renewal notice this week. Full coverage for two vehicles went up about 10%.
__________________
20's "something" mind, trapped in a 70's "something" body
|
|
|
03-04-2023, 05:28 PM
|
#33
|
Give me a museum and I'll fill it. (Picasso) Give me a forum ...
Join Date: Jun 2014
Posts: 7,055
|
I shop all my insurance every 2-3 years.
|
|
|
03-04-2023, 05:40 PM
|
#34
|
Recycles dryer sheets
Join Date: Jan 2020
Posts: 247
|
Quote:
Originally Posted by Gonz
I self insure my car with Hartford.
Pay around $350/yr.
Will cost more when I get a EV one day.
|
How does self-insuring with Hartford work?
Is it that Hartford handles all the paperwork, legal etc, but you are responsible for financial payouts? If so, then $350/yr may not be that bad.
|
|
|
03-05-2023, 08:12 AM
|
#35
|
Give me a museum and I'll fill it. (Picasso) Give me a forum ...
Join Date: Jun 2016
Location: Colorado
Posts: 8,971
|
Quote:
Originally Posted by Gonz
I self insure my car with Hartford.
Pay around $350/yr.
Will cost more when I get a EV one day.
|
I would hate to get into a multi injury accident. It could bankrupt you.
|
|
|
03-05-2023, 08:47 AM
|
#36
|
Moderator
Join Date: Oct 2010
Posts: 10,725
|
Quote:
Originally Posted by Spanky
LOL - attract new customers but screw exiting customers?
|
Consumer Reports had an article in the last year or so where they reported which insurance companies are the ones that penalize loyalty. One take away was that not all companies use that kind of pricing methodology.
|
|
|
03-05-2023, 08:59 AM
|
#37
|
Recycles dryer sheets
Join Date: Feb 2023
Posts: 345
|
Lower price for new customers, yep, that is normal marketing in every industry not sure why we would expect it different here. I can get a free phone if I switch to AT&T, but have to wait forever if I am an existing customer......I can get 3 months free if I start a new streaming subscription, but nope, they don't give that to all their customers every year, I get a $10 gift card if I switch to a new electricity provider, but they don't send me one every year after that................
|
|
|
03-05-2023, 12:49 PM
|
#38
|
Dryer sheet aficionado
Join Date: Jun 2014
Location: Tulsa
Posts: 36
|
Quote:
Originally Posted by COcheesehead
I would hate to get into a multi injury accident. It could bankrupt you.
|
I have liability/umbrella for that.
Self insure my car.
|
|
|
03-05-2023, 12:56 PM
|
#39
|
Dryer sheet aficionado
Join Date: Jun 2014
Location: Tulsa
Posts: 36
|
Quote:
Originally Posted by yhoomajor
How does self-insuring with Hartford work?
Is it that Hartford handles all the paperwork, legal etc, but you are responsible for financial payouts? If so, then $350/yr may not be that bad.
|
Liability with umbrella.
I'm responsible for the car.
Drove car about 300 miles or less since retiring June 2020.
|
|
|
03-05-2023, 12:56 PM
|
#40
|
Give me a museum and I'll fill it. (Picasso) Give me a forum ...
Join Date: Jun 2016
Location: Colorado
Posts: 8,971
|
Quote:
Originally Posted by Gonz
I have liability/umbrella for that.
Self insure my car.
|
Oh, it was phrased in an unusual way. You just don’t carry collision insurance. You don’t really self insure like some on here do for their homes.
|
|
|
|
|
Currently Active Users Viewing This Thread: 1 (0 members and 1 guests)
|
|
Posting Rules
|
You may not post new threads
You may not post replies
You may not post attachments
You may not edit your posts
HTML code is Off
|
|
|
|
» Recent Threads
|
|
|
|
|
|
|
|
|
|
|
|
|
» Quick Links
|
|
|