Insurance Companies

JazzDad · Dec 7, 2004

Hear are some random thoughts:
*In my state, you can go to the insurance commissioner's website and check complaint statistics, along with other criteria.
*Your friends' & relatives' word-of-mouth is another very good source in choosing a carrier.
*Being in the business, I hear complaints (and praise) for nearly every company.
*Your agent does not set rates or policy criteria.
*Use that agent to get answers, and to make sure you have the coverage that fits your needs, even if by asking the question it raises your rate.
*Ask about available discounts. We have some not many folks know about, are inexpensive to implement, and pay for themselves in a short time.
*If you don't have claims often, raise your deductible(s). I have a home deductible that is 2% of the value of my house.

mikim · Dec 7, 2004

another good place to go for insurance info is www.tdi.state.tx.us (texas dept of insurance) there is a lot of info there including ratings on agents as well as companies. There may be sites for other states with close to the same url ......ie cdi.state.ca.us for california...??? mebbe???

jwstewar · Dec 7, 2004

( Grange were always looking out for the customers best interest, and were the easiest to get along with from a body shops perspective )

I'm glad to hear are folks are doing a good job for you guys out there. One of our mottos is EODB - Ease of Doing Business - this is everything from working with our independent agents, our customers, the body shops, or each other within the company. I'm glad to hear it actually is true out in the field as well.

btolle · Dec 7, 2004

Whatever you do, don't buy from Prudential. I have had 2 personal bad experiences with them including being included in a class action suit that Prudential lost big time. Courts ruled that they told their agents to lie to the customers about life insurance.

Had a friend who had their home insured with Prudential for many years with no claims. They lived on a lake and he accidentially ran into a neighbors boat dock. Called Prudential to see if homeowners liability covered it, it didn't. Prudential jacked their rates about 25% the next year. When they asked why they were told it was because they had CALLED about a potential claim even though there was never an actual claim!

Needless to say, they no longer have Prudential.

You might want to check with Farm Bureau Insurance also. When I bought my new Kubota B7510 I signed up for membership in the County Farm Bureau. Cost me $35 per year for membership. Then was eligible for insurance through Farm Bureau. $53 got full coverage (no liability) on the $13,250 worth of tractor and implements. I will check with them when my car insurance comes due. BTW, you do NOT have to live on a farm to be a member of your County Farm Bureau.

Bill Tolle American Farm Bureau website will get you to your state and then your County Farm Bureau.

sendero · Dec 8, 2004

For what it's worth - I've had Nationwide for almost 20 years. During that time, I've had to have 2 complete roof replacements (including plywood/osb decking on each), but not much in the way of auto claims. - just a couple of hail storms, broken glass, fender bender that wasn't my fault.

I have a skeptical stance towards insurance companies in general and only get coverage I really need (i.e. I dump collision coverage once a car's value falls to 5K or so).

I can't complain about Nationwide - their claims adjustment has always seemed fair to me and they have never thrown up the roadblocks some seem to do.

OkeeDon · Dec 8, 2004

I've had Nationwide for 25 years, ever since my best friend became an agent and I became the first policy he wrote. The 25 year anniversary of their agency was just covered in the newspaper yesterday. Nationwide treated us decently during the hurricanes, with fair values for the roof replacements, fence damage, water damage and such on two properties (we just had our roof dried in yesterday; now we're waiting for shingles).

Now, I guess I'm about to find out how they are on auto damage. I took my wife's Ford Focus ZX3 into the dealership yesterday because it was vibrating in sync with the engine speed, stalling and the "check engine" light came on. They called this morning to say that there was severe damage to the undercarriage and I should notify the insurance company. My wife doesn't remember hitting anything, but she travels a lot of bad roads to see her patients as a home-health physical therapist. Looks like I'm going to have to pay another deductible -- I've already been hit with the deductibles on both buildings and on health policies. At least this one will be manageable -- the hurricane deductibles were 2% of the value of the properties and the health policy was a $5K deductible with co-pays. Looks like my out-of-pocket will total around $16K...it ain't been a good year, but imagine what it would have been without insurance -- the insurance companies have paid almost $200K in my behalf this year!

{Edit} -- just to make sure there are no misunderstandings -- the health insurance wasn't Nationwide. I used to have their health coverage, but they pulled out of individual health coverage in Florida a few years ago. Then, I had Mutual of Omaha, which covered the first part of my health problems, but they pulled out of Florida on 11/15 of this year. Now, I have Medical Savings Insurance Company, a new company started by the founder of Golden Rule Insurance to set up individual health plans under the medical savings account laws. I'll be going on Medicare next year; haven't picked a supplemental plan yet.

sneaky_pete · Dec 8, 2004

( ...I switched to USAA (military members only, if you qualify, the best way to go)...)

I qualify and registered with them to get a quote, but was flabbergasted when their quote for my house was more than twice what I'm paying now with State Farm. The savings on all the cars didn't add up to enough to offset the loss of the multi-line discount with State Farm, never mind the difference in homeowners policies. Plus, State Farm covers my tractors for no additonal cost. My only real beef with them now is that they don't want to cover my bikes, but Dairyland does that dirt cheap anyway. I thought State Farm was high, until I priced USAA.

Pete

bczoom · Dec 9, 2004

Again,

Thanks everyone for the info.
I'm STILL WAITING for the agent to get back with me with quotes and a list of what insurance companies don't want the business.

Brian

Moon · Dec 9, 2004

Brian,
Being from PA, have you checked out Erie? Good rates and good to deal with. As another poster mentioned, 2 claims in a year and they will cancel you.

Moon of Ohio