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Post by buddysmom on Jun 3, 2015 18:09:05 GMT
We had State Farm for 20+ years, no claims but they kept increasing our rates.
We changed companies about five years ago and got much better rates.
Well this place also keeps increasing rates (with no claims) and I think I'm going to start looking again.
This last time we went to an agent and the companies we are with are supposed to be very good--but who knows--never had a claim.
Did you get a better rate changing? I'm thinking 10% will make me change.
We're paying $1300 for our umbrella alone! I've heard that it's usually around 300.
Any good, reasonable companies out there?
I know there are a million variables, we also have two kids age 21 and 22 which increases the rate.
Thanks!
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Post by kellybelly77 on Jun 3, 2015 18:16:56 GMT
I would check with your state insurance dept. They should have a listing on their website of the companies that operate in your state along with the complaint history. You can also verify agent info with them, to make sure they are licensed and to see if they have any complaints also.
Just because you did not have any claims, doesn't mean the rates can't go up. Particularly with large losses due to weather everyone feels the pain whether you file a claim or not! Tornadoes in our area increase costs for everyone, not just those who filed a claim.
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Post by MichyM on Jun 3, 2015 18:29:59 GMT
I had Allstate for 20+ years for home, auto, and specific riders. I had the hardest time getting responses from my agent so I checked out State Farm about 5 years ago. They saved me over 20%. My rates have increased minimally since then.
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akathy
What's For Dinner?
Still peaing from Podunk!
Posts: 4,546
Location: North Dakota
Jun 25, 2014 22:56:55 GMT
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Post by akathy on Jun 3, 2015 20:13:01 GMT
I've been very pleased with American Family.
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Post by deltakaren on Jun 3, 2015 20:17:25 GMT
We just change Home Owner's Insurance from State Farm to Traveler's. With SF it was over $1800 (that include a $400 no claim discount) so I guess they really wanted $2200 for $155,000 in coverage. Traveler's is around $1350 with $200,000 coverage (rebuild value) plus we now get around a 15% discount on car insurance with GEICO. It definitely pays to bundle insurance! I just wish Traveler's was available in this area sooner.
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caangel
Drama Llama
Posts: 5,675 
Location: So Cal
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Post by caangel on Jun 3, 2015 20:20:46 GMT
We have always had USAA
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Post by anxiousmom on Jun 3, 2015 20:30:43 GMT
I had Allstate for 20+ years for home, auto, and specific riders. I had the hardest time getting responses from my agent so I checked out State Farm about 5 years ago. They saved me over 20%. My rates have increased minimally since then. This is exactly me, except I switched recently. I had allstate forever and about five years ago, for no discernible reason, they raised my rates by more than double. I called and they gave me the story about zones and the state allowed them to raise their rates within that zone, blah blah blah. I called around and State Farm gave me a rate of a third of what I was paying. (This is car insurance only. I can only get homeowners through the state due to the age of my home.) |
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smartypants71
Drama Llama
Posts: 5,816
Location: Houston, TX
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Post by smartypants71 on Jun 3, 2015 20:30:46 GMT
I really did save 20% by switching to Geico. I haven't had any claims, but what little customer service interaction I've had has been great.
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Post by Regina Phalange on Jun 3, 2015 20:58:11 GMT
My rates have been increasing steadily for years now. We had Allstate for 12 years and no claims, and in the last three they kept upping our premium. We then switched to Nationwide that saved us 30%. Our first year. Year two it bounced right back up, so we went back to Allstate. So far it hasn't changed but I'm just waiting for the next premium period to show an increase.
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Post by librarylady on Jun 3, 2015 21:10:57 GMT
I have read that a person should "shop around" every 2-3 years.
We have had Amica and Liberty and now Geico. All of them raise rates after the initial year.
I believe that your rates are influenced by your credit rating. (makes no sense, but that is the way it is)
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Post by buddysmom on Jun 4, 2015 0:54:27 GMT
We just change Home Owner's Insurance from State Farm to Traveler's. With SF it was over $1800 (that include a $400 no claim discount) so I guess they really wanted $2200 for $155,000 in coverage. Traveler's is around $1350 with $200,000 coverage (rebuild value) plus we now get around a 15% discount on car insurance with GEICO. It definitely pays to bundle insurance! I just wish Traveler's was available in this area sooner. So is Traveler's affiliated with Geico? I would like to keep everything with one company but have heard that Geico is very good (not sure about the prices). |
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sweetpeasmom
Pearl Clutcher
Posts: 2,652
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Post by sweetpeasmom on Jun 4, 2015 3:40:07 GMT
We were with Liberty for years. I shopped it every few years but no one could touch them. Then last year, they raised our rates a great deal. It happens, I know. They do random audits, there are increases across the board, or any other various things.
I did learn something recently and that your credit can also impact your rates. Didn't know that.
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Deleted
Posts: 0
Oct 6, 2024 21:28:28 GMT
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Post by Deleted on Jun 4, 2015 3:59:56 GMT
Your credit CAN impact whether or not a company (via an underwriter) wants your business, but your credit does not impact your rates. At all. Underwriters use plenty of information when determining whether or not they want your business. I recall one of our TN underwriters getting a ton of grief because they refused to insure the cabin of a famous country star because fire protection was inadequate. (I think there may have been a lake on the property...and a volunteer fire department, IIRC) It wasn't long after that u/w received grief before this cabin burned to the ground. The independent agent who was so furious with our company and the individual underwriter actually sent a letter to the company, with a newspaper clipping of the fire and apologized for being wrong and not realizing that the underwriter's decision was clearly the correct decision.
I worked in the rating department of a large property/casualty insurance company known nationally, handling business in nearly every state. I could either manually enter all the rating info into the computer and no where on any paperwork I entered was a credit score or a credit report. I also pulled out my rating manuals for homeowners and auto and could manually rate a policy using only my rating manuals and a calculator. Again...no where did a credit score (high or low) impact the rates.
Also, rates are submitted to each and every state for approval...so each insurance commissioner knows what companies are charging. Rates must be approved. Rates typically increase annually...whether or not you've had a claim. Rates change. It's a fact of life. |
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Deleted
Posts: 0
Oct 6, 2024 21:28:28 GMT
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Post by Deleted on Jun 4, 2015 4:05:14 GMT
And another word about "shopping around". In theory, it sounds like a nice idea and who wouldn't want to save money.
IMO, "shopping around" is not going to benefit you in the long run.
I have been loyal to USAA...even though they may not have always been my least expensive option.
With that said, I've also never had an issue when it came time for them to pay a claim. Hell...they even did a bunch of legwork for me on an accident that Farmer's claims my DH was involved in several states away. I totally feel they're on my side and I have them to go to bat for me.
If I switched around every few years, would the new company that I've only been with for a year be so willing to fight for me? Or would they be so willing to give me great claims service and not dick me around?
Maybe. But I'm not willing to take that chance.
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Post by ptamom on Jun 4, 2015 4:22:39 GMT
When my DD was about to get her license, I contacted our insurer (AAA) and found that our rates would double when she got her license, and triple if she were to be a primary driver on a car.
I researched companies, found Geico to be the lowest rate, but the complaints against Geico are numerous and horrific.
My dad was in the army, so my first insurer was USAA. So I was still eligible. The rate was much lower than AAA, and a year later I switched our homeowners from Farmers to them, lowering both rates.
My husband had a collision in a parking lot shortly after we switched, and they did not raise our rate. Very happy with USAA.
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Post by deltakaren on Jun 4, 2015 16:28:24 GMT
Buddysmom...Yes, Travelers is with GEICO, they might have other Insurance companies associated with them depending on where you live. I pay my car insurance monthly online, I would click on the Homeowner's Insurance...it would always say "not available." Finally, the quote page popped up and I filled it out...I'm glad I did!
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Deleted
Posts: 0
Oct 6, 2024 21:28:28 GMT
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Post by Deleted on Jun 4, 2015 16:33:50 GMT
We have USAA and our rates do increase a little each year, but that's primarily due to own home aging (we get a huge "home age discount" because we bought a new home). Our auto rates have been more or less stable and our umbrella policy is far less than yours.
We haven't shopped around since we switched to USAA 17 years ago and I have zero motivation to do so. They've been great for us, both service and rates.
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basketdiva
Pearl Clutcher
Posts: 3,649
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Post by basketdiva on Jun 4, 2015 16:35:52 GMT
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Post by genny on Jun 4, 2015 17:32:05 GMT
Wish we could get USAA! We have Farm Bureau for our home and have had 2 claims, one pretty small and the other was a bit bigger (black mold, bad shower pan, bathroom rebuild, ugh). We saw a minimal increase. I did shop a price with our new business carrier last year, and they couldn't touch the Farm Bureau rate on our house.
We switched our umbrella that covers business liability, all of our cars and content for our rented building from Travelers to Nationwide last summer - got more coverage, added a teen driver and another car and we are only paying about $50 more a year. We made our first claim this week so we'll see what happens after that's settled.
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Deleted
Posts: 0
Oct 6, 2024 21:28:28 GMT
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Post by Deleted on Jun 4, 2015 17:44:49 GMT
Have you checked to see if there are smaller insurance companies that only operate in your state? We have Bear River Mutual Insurance. Our costs went way down! We've never had issues with claims.
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