Deleted
Joined: May 4, 2024 2:41:22 GMT -5
Posts: 0
|
Post by Deleted on Apr 26, 2019 7:05:54 GMT -5
I thought you stayed with the same insurance company because they wouldn't drop you after a claim. I would think that if insurance decided you were too much of a risk to carry they wouldn't care how long you were with them. It's not like they really feel any loyalty to long time customers. It's all about the numbers. Years ago a friend was insured by NJ Manufacturers, which you could get only if you were employed by certain companies in NJ. Very good company, good rates, and typically you got a dividend every year. When he totalled his car and was convicted of DWI they dropped him like a hot potato. NJ was a difficult regulatory environment at the time but DWI was one of the iron-clad reasons they could drop you. States vary on reasons companies can drop you (other than for reasons such as non-payment of premium, DUI, etc.) but they can certainly jack the rates up if you have a lot of claims, which can motivate you to leave. Rates for people who have had claims in the past are also regulated and based on statistics that show that people who have had claims in the past are more likely to have them in the future.
|
|
andi9899
Distinguished Associate
Joined: Dec 6, 2011 10:22:29 GMT -5
Posts: 30,423
|
Post by andi9899 on Apr 26, 2019 8:40:44 GMT -5
It does vary from state to state, I live in Michigan and am very jealous of those of you out there with such low rates. I switched from State Farm to Farm Bureau a couple of years ago and saved some money, but my policy includes 7 cars, two houses and an umbrella liability policy. Crazy I know, but it’s they way my life is right now (darn kids 😐). I suspect that it's the kids that make your rates so high. Mine dropped considerably once I got the girls off my policy.
|
|
Deleted
Joined: May 4, 2024 2:41:22 GMT -5
Posts: 0
|
Post by Deleted on Apr 26, 2019 8:46:39 GMT -5
It does vary from state to state, I live in Michigan and am very jealous of those of you out there with such low rates. I switched from State Farm to Farm Bureau a couple of years ago and saved some money, but my policy includes 7 cars, two houses and an umbrella liability policy. Crazy I know, but it’s they way my life is right now (darn kids 😐). I suspect that it's the kids that make your rates so high. Mine dropped considerably once I got the girls off my policy. I think Michigan is just high for auto rates in general. I'm on another board where budgets are posted and "We're in Michigan..." comes up a lot when someone posts some super expensive car insurance.
eta: I looked it up.
|
|
WholeLottaNothin
Well-Known Member
Joined: Dec 23, 2010 15:19:25 GMT -5
Posts: 1,721
|
Post by WholeLottaNothin on Apr 26, 2019 8:55:37 GMT -5
We have Erie for the house and Travelers for the car insurance. Travelers was decent with my car accident (not my fault) and have been with them for several years now. The rates have increased every year, to the point I am thinking of switching everything to Erie, but have not looked into it too much yet.
|
|
andi9899
Distinguished Associate
Joined: Dec 6, 2011 10:22:29 GMT -5
Posts: 30,423
|
Post by andi9899 on Apr 26, 2019 8:59:48 GMT -5
I suspect that it's the kids that make your rates so high. Mine dropped considerably once I got the girls off my policy. I think Michigan is just high for auto rates in general. I'm on another board where budgets are posted and "We're in Michigan..." comes up a lot when someone posts some super expensive car insurance.
eta: I looked it up.
That's messed up. Never living in Michigan.
|
|
nittanycheme
Established Member
Joined: Aug 8, 2011 14:26:36 GMT -5
Posts: 488
|
Post by nittanycheme on Apr 26, 2019 10:01:56 GMT -5
I have Traveler's through AAA for my auto and house, and my DH has erie for his car (I don't know why he won't combine with me - he's funny about it). I've had claims on both my auto for an accident and a house for hail storm, and traveler's was pretty good to deal with for both. I got a small increase in my insurance rate for my accident (technically, it was forgiven but I lost the "accident free" discount for a while) and an increase in my HO every year. The $ isn't too bad, and I've been relatively lazy about shopping around. I had allstate a very long time ago. I was in an accident, and they raised my rate alot and never dropped it back down. After a couple of years, I moved to another company and cut my auto insurance by A LOT. Allstate was charging me a two or three thousand a year, and the new company was less than $1000 a year. I probably could've changed with the accident still relatively fresh and saved money. My DH recently had a broken window in his car, and Erie was really responsive in getting it fixed. He hasn't been in any accidents that are his fault so no first-hand knowledge of that part. His car was hit by one of our neighbors when it was sitting in the driveway. I think they had Erie, and I know know it was a pretty quick resolution for that. I've been thinking I should try shopping around again; the small increases every year do add up. And maybe lobby my DH to combine again so we can get a multi-car discount. When you combine our two vehicles, I'm sure we pay too much.
|
|
alabamagal
Junior Associate
Joined: Dec 23, 2010 11:30:29 GMT -5
Posts: 8,118
|
Post by alabamagal on Apr 26, 2019 10:41:56 GMT -5
ODS is an actuary who works for Allstate. He has car insurance through Progressive - that is a pretty big clue on Allstate rates.
I think the “accident forgiveness” and “vanishing deductible” are just gimmicks and figured into the rates. Also one company is now heavily advertising that they customize your policy - all insurance companies do that.
I used to worry less about claims performance since most people have very few claims. If you are saving $600 a year with company A, but company B pays better on claims and you get $1000 more if your car is totaled, you should come out ahead with company A. But YDS is now having an issue with Geico on a claim. I guess it is just related to an obnoxious investigator, but they are basically accusing him of lying about his claim and trying to get him to file under collision (his fault) instead of uninsured motorist. His car got hit while parked. He is just going to fix it himself and change to a different company ( probably USAA). So for Geico not paying the $750, they just lost a young driver who will be buying insurance for 50 more years. And the $750 is 3 months of his premiums.
|
|
|
Post by The Walk of the Penguin Mich on Apr 26, 2019 15:17:41 GMT -5
My folks had GEICO for 30+ years. After my youngest brother’s second accident, they told my folks that my brother needed his own policy on his own car, or they were dropping the whole policy. The number of claims in the preceding 30+ years? 0.
When I bought my first new car, I had it 6 months (new car, new insurance, new state) and my car was stolen from in front of my apartment. State Farm paid out, and I got dropped. I’m not sure what database I wound up in, but I had difficulty getting anyone to insure me afterwards for about 5 years. Not sure why I got penalized for having a locked car stolen from in front of my home.
Now I am insured with USAA. I have not filed any claims with them except for a broken windshield in 8 years with them. Same car, my insurance has either remained the same or gone down a few $$. TD has all his insurance with Amica, and he got hit with a big increase this year. I think he is going to piggyback on my policy now, bringing 2 cars, and umbrella and a homeowner’s policy over.
|
|
bean29
Junior Associate
Joined: Dec 19, 2010 22:26:57 GMT -5
Posts: 9,939
|
Post by bean29 on Apr 26, 2019 15:27:33 GMT -5
ODS is an actuary who works for Allstate. He has car insurance through Progressive - that is a pretty big clue on Allstate rates. I think the “accident forgiveness” and “vanishing deductible” are just gimmicks and figured into the rates. Also one company is now heavily advertising that they customize your policy - all insurance companies do that. I used to worry less about claims performance since most people have very few claims. If you are saving $600 a year with company A, but company B pays better on claims and you get $1000 more if your car is totaled, you should come out ahead with company A. But YDS is now having an issue with Geico on a claim. I guess it is just related to an obnoxious investigator, but they are basically accusing him of lying about his claim and trying to get him to file under collision (his fault) instead of uninsured motorist. His car got hit while parked. He is just going to fix it himself and change to a different company ( probably USAA). So for Geico not paying the $750, they just lost a young driver who will be buying insurance for 50 more years. And the $750 is 3 months of his premiums. Does you son live in Chicago then? Insurance rates are regional and each company has their own rates based upon their experience. DH loses some customers, and gets them back in a year or so. The company sends out reminders and he tells his customers to check back in a year. My DH refuses to go to another company, he feels if the agents don't carry the insurance they sell, how can they expect to sell it to a customer, so I have not shopped my insurance in more than 20 years.
|
|
alabamagal
Junior Associate
Joined: Dec 23, 2010 11:30:29 GMT -5
Posts: 8,118
|
Post by alabamagal on Apr 26, 2019 19:45:05 GMT -5
ODS is an actuary who works for Allstate. He has car insurance through Progressive - that is a pretty big clue on Allstate rates. I think the “accident forgiveness” and “vanishing deductible” are just gimmicks and figured into the rates. Also one company is now heavily advertising that they customize your policy - all insurance companies do that. I used to worry less about claims performance since most people have very few claims. If you are saving $600 a year with company A, but company B pays better on claims and you get $1000 more if your car is totaled, you should come out ahead with company A. But YDS is now having an issue with Geico on a claim. I guess it is just related to an obnoxious investigator, but they are basically accusing him of lying about his claim and trying to get him to file under collision (his fault) instead of uninsured motorist. His car got hit while parked. He is just going to fix it himself and change to a different company ( probably USAA). So for Geico not paying the $750, they just lost a young driver who will be buying insurance for 50 more years. And the $750 is 3 months of his premiums. Does you son live in Chicago then? Insurance rates are regional and each company has their own rates based upon their experience. DH loses some customers, and gets them back in a year or so. The company sends out reminders and he tells his customers to check back in a year. My DH refuses to go to another company, he feels if the agents don't carry the insurance they sell, how can they expect to sell it to a customer, so I have not shopped my insurance in more than 20 years. DS lives in AZ. He works for corporate group in satellite office in AZ, he is not an agent, not in sales. And I think what you are referring to is that a lot of companies will offer low rates for your first policy, then raise for next policies (pretty sure Geico does that, they have a new customer discount). That is why the agents say check back with me in a year.
|
|