Author Topic: Best websites for comparing ratings/reviews of insurance companies?  (Read 755 times)

ObviouslyNotAGolfer

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I am looking for some short-term home-owner's insurance for my deceased parents' house, until I can sell it. I am also looking for life insurance for myself. What are the best sites for sifting through reviews and ratings? Thanks.
« Last Edit: July 22, 2021, 04:36:13 PM by ObviouslyNotAGolfer »

terran

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Re: Best websites for comparing ratings/reviews of insurance companies?
« Reply #1 on: July 22, 2021, 05:02:51 PM »
We had a good experience going with an agent in our area listed on https://www.term4sale.com/ for life insurance. The price ended up being almost exactly the same as the quote on the site.

Sibley

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Re: Best websites for comparing ratings/reviews of insurance companies?
« Reply #2 on: July 25, 2021, 12:51:10 PM »
For your parent's house, it might be easier to just work with their agent if you know who it is. It's short term after all, and they already have(had) a policy, so they have the property info.

Dicey

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Re: Best websites for comparing ratings/reviews of insurance companies?
« Reply #3 on: July 25, 2021, 12:59:32 PM »
+3 for working with an agent. Our insurance company is so specialized that it doesn't show up on any web searches, and it's far cheaper than any "name brand" insurance company. Top ratings as well, perhaps because they don't waste money on advertising...

Wolfpack Mustachian

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Re: Best websites for comparing ratings/reviews of insurance companies?
« Reply #4 on: July 26, 2021, 06:13:34 AM »
+3 for working with an agent. Our insurance company is so specialized that it doesn't show up on any web searches, and it's far cheaper than any "name brand" insurance company. Top ratings as well, perhaps because they don't waste money on advertising...

I always assumed that since agents provide an additional level of intermediary between myself and the insurance company that buying through them would typically be more expensive. Do you think it's just that the insurance companies that you get through them are cheap enough that the difference is made up that way? Just curious.

Dicey

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Re: Best websites for comparing ratings/reviews of insurance companies?
« Reply #5 on: July 26, 2021, 07:45:11 AM »
+3 for working with an agent. Our insurance company is so specialized that it doesn't show up on any web searches, and it's far cheaper than any "name brand" insurance company. Top ratings as well, perhaps because they don't waste money on advertising...

I always assumed that since agents provide an additional level of intermediary between myself and the insurance company that buying through them would typically be more expensive. Do you think it's just that the insurance companies that you get through them are cheap enough that the difference is made up that way? Just curious.
I wondered if I should have been more specific. I'm speaking of independent agents, not agents who represent "X Insurance Company". Sorry if that was confusing.

I'm not completely certain how it works. Perhaps smaller companies pay commissions to the agents because they save money by not having their own sales force or that using agents provides other economies, like having to spend less on advertising. Mortgage brokers seem to be similar. They provide/vet customers in exchange for wholesale rates. I once applied for loans with a mortgage broker and with my bank, Wells Fargo. The mortgage broker easily beat WF's quote to me, so I went with them. The lender turned out to be...Wells Fargo.

Recently, our Homeowner's Insurance rate spiked. On a whim, we stopped into our broker's office unannounced. She was able to see our entire rate history and explain that it really wasn't the spike it seemed, because our rates had dropped considerably over the years.* She had all that info at her fingertips. She then reviewed all of our other policies, then we chatted about other stuff and left happy.

*When we bought our house in 2012, homeowner's insurance was $1050/year. It dropped every year, bottoming out at $597, stayed there for a couple of years, then gradually increased. This year's bill "jumped" to $1250. It seemed huge, but from a historical perspective, it really wasn't. BTW, the house rose in value from $900k to $1.7M in that time.

Dicey

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Re: Best websites for comparing ratings/reviews of insurance companies?
« Reply #6 on: July 26, 2021, 07:49:40 AM »
Hmmm, I should also mention that we don't buy all of our insurance through her agency, but we always start there. When we bought an RV, we easily found better rates via the internet. Moral: When rate shopping, check everywhere. The payback for the time invested is excellent.

Wolfpack Mustachian

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Re: Best websites for comparing ratings/reviews of insurance companies?
« Reply #7 on: July 26, 2021, 09:04:48 AM »
Thanks, @Dicey for the information!
Insurance is one of those things I really need to look into to optimize, and I've been lazy about it. This will hopefully spur me to better efficiency :-)!