JL Sargent Posted December 20, 2019 Share Posted December 20, 2019 I've been with the same ins co for the last 20 years. That company wants to add $1000 annually for adding my 16 year old son as a driver. That got me to shopping around. Looks like I can save enough by changing ins cos to now cover my son for zero increase in premiums over last year all else being the same. I'm effectively saving $1000! What do you do? 1 Quote Link to comment Share on other sites More sharing options...
CECAA850 Posted December 20, 2019 Share Posted December 20, 2019 Just now, JL Sargent said: I've been with the same ins co for the last 20 years. That company wants to add $1000 annually for adding my 16 year old son as a driver. That got me to shopping around. Looks like I can save enough by changing ins cos to now cover my son for zero increase in premiums over last year all else being the same. I'm effectively saving $1000! What do you do? Give the quote to your current agent and have him see if he can find anything comparable. I just went through the same exercise a couple of months ago and saved a ton of money. Quote Link to comment Share on other sites More sharing options...
JL Sargent Posted December 20, 2019 Author Share Posted December 20, 2019 1 minute ago, CECAA850 said: Give the quote to your current agent and have him see if he can find anything comparable. Hey Carl, I hope you and yours are doing well? My current agent is also the person that found this new deal. You see I use an independent ins co and they have 1/2 a doz underwriting insurance companys. I asked her to shop my needs with these other underwriters and this is where I am now. Quote Link to comment Share on other sites More sharing options...
JL Sargent Posted December 20, 2019 Author Share Posted December 20, 2019 I guess there is no reward for being a LOYAL customer. To get the best treatment from ins cos, you need to be a NEW customer. With no claims on anything for the last 40 years, you would think I could get the lowest rates? Quote Link to comment Share on other sites More sharing options...
The Dude Posted December 20, 2019 Share Posted December 20, 2019 Just went through this myself. I had Farmers for years, no issues, claim wise or rate rise. My daughter turned 16 and I wanted her to get her own policy for the vehicle she is to own. Come to find out, it would run close to $300 a month for just liability on an 01 Jeep Cherokee. When I was 16, I only paid $115 a month for liability on a 83' Pontiac Grand Prix. My agent recommend having her on as a house hold driver of some sort. She would be covered under our policy, which has 3 vehicles (keeping the Cherokee as one), 2 with full coverage for about $185 a month extra. So this had us shopping. A lot of folks I know said that they get the best rate was through Farm Bureau. However, we found an additional savings of $1000 a year with more coverage n the cars and house by switching to USAA. Even presented the quote to my recent agent at Farmers, he told us that it was a pretty good deal and unfortunately couldn't match it. I can't believe how much auto for teens has gone up. Both agents gave us this blah blah blah story about uninsured motorist and that most members of the family don't pay attention to what car they grab, why its best they put them on the house hold policy. Quote Link to comment Share on other sites More sharing options...
CECAA850 Posted December 20, 2019 Share Posted December 20, 2019 3 minutes ago, JL Sargent said: I guess there is no reward for being a LOYAL customer. To get the best treatment from ins cos, you need to be a NEW customer. With no claims on anything for the last 40 years, you would think I could get the lowest rates? Nope. Just like the phone company or anything else. The new customers get the "introductory" rates so they can set the hook. Hope you guys are doing well also. I was hoping I'd hear from you around Thanksgiving. Quote Link to comment Share on other sites More sharing options...
The Dude Posted December 20, 2019 Share Posted December 20, 2019 5 minutes ago, JL Sargent said: I guess there is no reward for being a LOYAL customer. To get the best treatment from ins cos, you need to be a NEW customer. Same with internet/cable companies. Quote Link to comment Share on other sites More sharing options...
The Dude Posted December 20, 2019 Share Posted December 20, 2019 I guess to answer your question, maybe 3-5 years. But in reality, unless you have the cash upfront, its not that easy switching home owners if its paid through escrow. Quote Link to comment Share on other sites More sharing options...
JL Sargent Posted December 20, 2019 Author Share Posted December 20, 2019 13 minutes ago, CECAA850 said: I was hoping I'd hear from you around Thanksgiving. I thought about you guys, but didn't even leave the house while in Lake Charles. I did not even go to town. I'm especially responsible for my dad on these trips and its my wife's only time each year to visit with her family as a whole. That has me tied down to hanging out with dad and not much else, which is ok. I just don't get to disappear for the day anymore. Anyway, best wishes to you guys. Quote Link to comment Share on other sites More sharing options...
thebes Posted December 21, 2019 Share Posted December 21, 2019 Don't ever get suckered into the idea that these companies give a whit about you or your loyalty to them. Shop every three years. Period. None of these companies, agents or not, do anything outside of what their software tells them. Your driving record only interests them when you are shopping. If you are with them for 20 years claim free, they could give a crap when it comes to renewing. It won't save you a dime,no matter how they pitch it to you. You will also notice it's almost impossible to get a full year policy. Most are six months so they can drop you faster. Just remember insurance companies are really just financial intuitions. Their primary source of profit is investing your premiums. The whole claim, accidents etc. is just overhead, not their primary business. Did a stint in insurance. Also worked for a member of Congress who was on the Banking Committee so I have some perspective on this. 1 1 Quote Link to comment Share on other sites More sharing options...
JJkizak Posted December 21, 2019 Share Posted December 21, 2019 I started checking different companies and the first one would save me $3.00 per year so I gave up. JJK Quote Link to comment Share on other sites More sharing options...
MyOwn Posted December 21, 2019 Share Posted December 21, 2019 7 minutes ago, thebes said: Don't ever get suckered into the idea that these companies give a whit about you or your loyalty to them. Shop every three years. Period. Soooooooo True In all aspects of consumerism I hate that we feel the need / or have to pay "law" for something that is a calculation https://www.wisegeek.com/what-is-insurance-mathematics.htm Quote Link to comment Share on other sites More sharing options...
bkwa1959 Posted December 21, 2019 Share Posted December 21, 2019 We moved to Tennessee in 2009 and bought a home with the same replacement cost of our home in NC and the cost of insurance was 30% higher and car insurance was 50% higher due to living in a tourist area.I finally found a company that the rates was only 20% higher on home and 25% higher on car.Then we had the major fires in East Tennessee,we had no claims and our rates tripled.We had to up our deductible to 2500.00 and the rates only doubled.Don’t get me started on health insurance. 1 Quote Link to comment Share on other sites More sharing options...
JohnJ Posted December 21, 2019 Share Posted December 21, 2019 Been in NC practically forever, Allstate. They took care of us with the giant twister that didn't touch down but unleashed cue ball and larger sized hail that night when duke won in 2010. They did try a couple of times twenty years ago to get us to change to a "new" policy for less annually. Got a $100.00 deductible but the car's went up to $500.00 due to state regulations. Will stick with them for as long as possible sine we're covered for 22 times more than the purchase price now. Quote Link to comment Share on other sites More sharing options...
grasshopper Posted December 21, 2019 Share Posted December 21, 2019 I've been with an agency for many years. They do the shopping for me. That I grew up with the owner ... I'd like to think it shouldn't matter, if they are doing their job. Quote Link to comment Share on other sites More sharing options...
Jeff Matthews Posted December 21, 2019 Share Posted December 21, 2019 17 hours ago, JohnJ said: Will stick with them for as long as possible sine we're covered for 22 times more than the purchase price now. If I am reading correctly, you are over-insured. There is no benefit from that. Quote Link to comment Share on other sites More sharing options...
Gilbert Posted December 21, 2019 Share Posted December 21, 2019 20 hours ago, CECAA850 said: I just went through the same exercise a couple of months ago and saved a ton of money. What a coinciden 1 Quote Link to comment Share on other sites More sharing options...
BigStewMan Posted December 21, 2019 Share Posted December 21, 2019 22 hours ago, JL Sargent said: I guess there is no reward for being a LOYAL customer. very true. same goes for things like cell phone plans, cable tv, and even rent. I was renting an apartment once and they were advertising how they lowered their rent ... well, they didn't lower it for the people that were already living there, it was only for NEW tenants. Quote Link to comment Share on other sites More sharing options...
richieb Posted December 21, 2019 Share Posted December 21, 2019 } We have a couple options for trash service so I investigated and found I could save a few bucks, get a larger container, etc. So when informing the company I had used for decades, they were the only game for years, that I was dropping their service they of course asked why. They asked what I would be paying then said - “ we can match price and have several options”. I said it was already done and asked why I wasn’t given these lower priced options in the past. I assume they had a grin on their face when they replied - we thought you were happy with your current rate — — And yes, after 25%+ years with an insurance carrier I switched a couple years ago. Saved some but after the back and forth over a new roof and huge increase for a particular car, I got my satisfaction— Quote Link to comment Share on other sites More sharing options...
JohnJ Posted December 21, 2019 Share Posted December 21, 2019 3 hours ago, Jeff Matthews said: If I am reading correctly, you are over-insured. There is no benefit from that. Naaa. House was bought for $16K now valued at over $300K. That's why the coverage had to go up. 1 Quote Link to comment Share on other sites More sharing options...
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