National Insurance comapny's

[JDgreen227]

I have found that when I've received a large increase that a phone call to the local agent works. They press a magic button and the rates get lower. It's the only thing that's kept me from shopping around lately. I have looked twice in the last 10 years are other companies rates. LM would have saved me $100/yr on auto, but they flat our refused to cover me for my home because I have dogs that are on their "list". A local insurance agent that works with many companies came back with similar auto, but over 2X for the home.

Be sure to call your agent every so often. They lower rates just to keep customers.

I contact my AAA agent (a great guy) via email at least every other month just to send him news I am still around and keeping tabs on my policies. I have learned EXACTLY what you say to be true...if your agent knows you are still alive often they will figure out a way to keep your business just to be competive. The Internet has done wonders as far as comparison shopping for insurance goes, I always hated dealing with quotes over the phone or via snail mail because you basically had no proof an agent or company quoted you "$700 a year for X-amount of coverage" but now you can obtain immediate premium quotes and they have no way to say "we didn't tell you that..."

 

[Pilot]

Veterans only: USAA. Been with them since 1967. Was for officers only then, but open to any honorably discharged veteran or current service member. Got Geicon when I went in as they were the only company serving military. When I got assigned to my duty station and renewal came up, the rate had doubled. Guys in the office said, "call USAA". Their rate was lower than the original Geicon rate; been with them ever since.

In every consumer survey about insurance companies, USAA comes up #1 or #2.

They now have banking also. In France we got jerked around by a hotel and chose not to stay the second night we had paid for. They refused to refund our payment (credit card). Called USAA when we got home, they went to bat for us, but failed to get the hotel to back down. Wife got a call from USAA and the gal said that sometimes USAA will just cover it themselves and canceled the CC charge.

 

[Pops15]

FYI many of the smaller local or regional companies sell some or all of their storm coverage to larger national companies that can spread the risk over a larger area.
Some insurance companies specify a certain percentage of used parts are to be used in collision repair. Don't base your decision on premiums alone. Read your policies!
In my experience an independent agent that deals with several companies can get me the best value for my premium dollar.

 

[MossRoad]

Also, everyone should be sure to check their homeowner's policy for true replacement cost VS market value.

Some insurance companies offer lower premiums, but do not offer true replacement cost. They can confuse you with things like 150% replacement value, which sounds great until you find out it is 150% of market value, not true replacement cost.

For example, lets say you have a house that has a market value of $100,000.00.
You have it insured for $150,000.00.
However, it may cost $200,000.00 to rebuild.

You have to look at that stuff closely and ask your agent to show you in your policy what type of insurance you acutally have.

 

[Bird]

For example, lets say you have a house that has a market value of $100,000.00.
You have it insured for $150,000.00.
However, it may cost $200,000.00 to rebuild.

You're right, of course, and yes, mine is insured for considerably more than I think I could sell it for, but they tell me it's insured for what it would cost to rebuild it.

And unless something has changed that I don't know about, there's another little catch. You would think that, in your example, if you had it insured for $150k and it cost $200k to rebuild, the insurance company would pay the $150k. But nope, if you don't have it insured for at least 80% of the value (in this case $160k), then the insurance company doesn't even pay the whole $150k.

 

[kenmac]

AAA is an annual policy instead of the 6 month policies that Allstate has. .

Are you talking about your home or vehicles ? I have AAA through an independent agent. My home is an annual policy. My vehicles re new every 6 mo.

 

[Bird]

Are you talking about your home or vehicles ? I have AAA through an independent agent. My home is an annual policy. My vehicles re new every 6 mo.

Both our home AND auto policies are one year policies. Perhaps the difference is that I've only dealt directly with AAA in one of their local offices???? In fact, the homeowners policy renews in September because we bought this place in September, 2005. The auto insurance renewed for another year 6 days ago; October 31.

 

[JDgreen227]

Both our home AND auto policies are one year policies. Perhaps the difference is that I've only dealt directly with AAA in one of their local offices???? In fact, the homeowners policy renews in September because we bought this place in September, 2005. The auto insurance renewed for another year 6 days ago; October 31.

Bird....as long as I have been with AAA my policies have been one year term for both auto and homeowners.

 

[Gator6x4]

You're right, of course, and yes, mine is insured for considerably more than I think I could sell it for, but they tell me it's insured for what it would cost to rebuild it.

And unless something has changed that I don't know about, there's another little catch. You would think that, in your example, if you had it insured for $150k and it cost $200k to rebuild, the insurance company would pay the $150k. But nope, if you don't have it insured for at least 80% of the value (in this case $160k), then the insurance company doesn't even pay the whole $150k.

I carry "Replacement Cost" homeowners insurance on the house. So if it cost X dollars to rebuild, the insurance will cover. According to my Agent this is the best way to go. It would not take many purchases of something that cost $200.00 when the house was built and now cost $500.00 to deplete an insurance payment for damages.

 

[MossRoad]

Our home insurance is once a year, our auto is twice with Allstate. Our property taxes are also twice a year, and due in the same months, May and November.