National Insurance comapny's

[Tollster]

I left a major national company early this year and saving almost 1500.00 on 4 cars and 4 bikes. I believe they raise the premiums to cover damage such as sandy on other policy holders.
The national company wanted me to bring my house over to create an Umbrella policy for better rates. I expalined to them I believed it would be short lived as they did with my vehicles....the premiums increased as valued decreased.
So I moved my vehicles over to a local comapny that has had my home for 20 years and has treated me fairly,saving 1500.00 a year. granted its an umbrella, but I know my money is staying local and not going to some million dollar mansion destroyed on some sand barrier, therefore my rates are more likely to not inflate as much until its our turn!

 

[dave1949]

Me too. Allstate just kept upping our home insurance rates, no claims, no add to value.

 

[MarkV]

Just a sign of the times to me. The companies are not making as much because of the stock market, Katrina, Irene, Sandy all took a chunk out of the reserves and the pension funds that are invested in them have the baby boomers coming into retirement age. I don't think we will see much of a change for a good while.

MarkV

 

[dmccarty]

Years ago we moved to NC Farm Bureau. Same coverage we had before with a national company but the premiums were much less. They also pay claims promptly and without a problem. Their service has been excellent and we actually know the agent! :laughing:

Later,
Dan

 

[stingray1]

I've had State Farm for 30+ years about the last 4-5 years they've robbed and raped me.I'm ready to make the switch.

 

[Tollster]

I've had State Farm for 30+ years about the last 4-5 years they've robbed and raped me.I'm ready to make the switch.

Thats who I had,I tried to work with them,but it was all or nothing. There is no buddy'sin the insurance world. They could care less if I left,so I did, and asked them to remove me from their mailing and calling lists ASAP!
No looking back now!

The current company who I have had with my home for 20 years actually comes out from time to time ensuring I am maintaining my home, they check gutter runoff, roofing tiles,and so on. I am good with that as I believe I am a responsible homeowner, and if it keeps fraud down along with cost, all the more.

 

[aczlan]

Had Allstate through a local agent for both autos and home/umbrella, but they only do 6 month auto policies. Renewal time came around and their 6 month policy was the same price as Liberty Mutual's 12 month policy (though another local agent) for the same limits...
Guess who we go through for our auto insurance?
Interestingly, our local LM agent beat the online LM price quote by a $100


Aaron Z

 

[Bird]

We had State Farm Insurance for many years; both homeowner's and auto, but not in the last 22 years. And when we moved back to town 10 years ago, I joined AAA for the first time, just in case my wife should have any car problems in this heavy traffic area. And then I went from Allstate on the vehicles to AAA auto insurance. AAA is an annual policy instead of the 6 month policies that Allstate has. And when we bought this house 7 years ago, AAA homeowner's was the best price I found, so we have that, too, now.

 

[Jstpssng]

I still have the same commercial auto policy that I had when I worked for myself. I got a quote from Geico; they were slightly higher than I'm paying now except it was for six months instead of a year; only 500K instead of a million; plus it didn't inclide my Kubota, which has full coverage. Maybe if they didn't spend so much on advertising, they could be competitive?

 

[Tollster]

its been my experience they reel you in with low cost,then increase the rates as your vehicle depriciates, same with your house.
If they are national, they have had some big payouts over the past few years, it is the money of many that pays those claims,so they have to squeeze ya.
I have Donegal on my home and vehicles, they are smaller,but local, so they have more control over who they have under their policy's,ensuring they maintain what they have insured, and since we are really not in a national weather extreme area..besides floods,their payouts are not nearly as much when you do a ratio in reguard to the policy's owned.
I also believe there is a law that requires an insuance company to have a certian amount of cash payout on hand that corraltes with their oveall coverage of the policy'sowned. I recall reading something like that when I researched it. I really wanted to know why my rates where higher on my 100k truck 10 years later than when it was new, particularly since I raised my deductibles and cut every corner i could to be comfortable with my coverage. I believe the payout for my truck went from 23k when new to around 9k when I left, and my rates nearly doubled...accident free to boot,and ticket free!