Author Topic: car insurance question  (Read 1509 times)

Mr. Paws

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car insurance question
« on: April 03, 2017, 01:10:11 PM »
I have tried using the search function but its not working on my computer for some reason.  MMM had an article about car insurance and which one he uses.  I cant find that article, does anyone have the link? 

Also I would like just general advice on carriers and quality.  I am with Progressive now and I have been there long enough to have some features such as accident forgiveness.  However, I did some online quotes at other carriers and they were quite a bit cheaper. 

I am also looking at changing homeowners insurance and would possibly be interested in bundling.  Not sure how much you usually save when you do that though?  Thoughts are appreciated.

patchyfacialhair

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Re: car insurance question
« Reply #1 on: April 03, 2017, 01:25:18 PM »
He uses Geico.

Just do a quick quote on the big name carriers. They're all good in similar ways, and have pretty standard contracts. Go with the cheapest. For me, that's USAA for auto, and Nationwide for home.

I do quick online quotes when the policies renew.

NeonPegasus

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Re: car insurance question
« Reply #2 on: April 03, 2017, 01:41:01 PM »
Look for an independent agent and get some quotes from him/her.

Several years ago, I spent two weeks shopping auto and home insurance, convinced I could find a better deal than my agent. After shopping (including Geico, USAA and Nationwide, among many others), I went back to my agent and asked them to shop my insurance again. The agent won, hands down, and also ensured I had the riders I need.

Every time my insurance goes up by more than 3% or so, I tell my agent to shop it. They do the work. They bring me the deals. And they mind the gaps in policies between different companies.

I tend to get the best deals from Travelers, Encompass and State Auto.

Mr. Paws

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Re: car insurance question
« Reply #3 on: April 10, 2017, 10:06:49 AM »
Thanks.  I ended up switching to Geico.  The price was almost exactly half the price I was paying with exact coverage.  I feel like there is something i am overlooking because its so much cheaper.  I tried getting as many details out of Geico as possible about any hidden fees or jump in rates after 6 months.  The guy did give me some bs about how rates at Geico never go without something like an accident happening.  I pushed a little more on that and he said his rates only have gone up a few bucks over a 5 year period. Not sure about that though.  Since he is an employee, I would imagine his rate adjustments are less than the average consumer assuming he is telling the truth.  Anyway, at least I have 6 months of significantly cheaper insurance.

Axecleaver

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Re: car insurance question
« Reply #4 on: April 16, 2017, 01:58:27 PM »
Auto insurance - geico included - raises your rates every year you stay. It's important to change carriers every two or three years. It will top out at about double the first year rate. Every carrier uses different risk software, so you can't ever tell who will be cheapest for you. For example, cheap cars can be more expensive to insure than expensive ones, because they are driven by younger, less experienced drivers.

Same thing happens for business liability insurance, need to change carriers every two to three years.

JLee

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Re: car insurance question
« Reply #5 on: April 16, 2017, 02:09:30 PM »
Auto insurance - geico included - raises your rates every year you stay. It's important to change carriers every two or three years. It will top out at about double the first year rate. Every carrier uses different risk software, so you can't ever tell who will be cheapest for you. For example, cheap cars can be more expensive to insure than expensive ones, because they are driven by younger, less experienced drivers.

Same thing happens for business liability insurance, need to change carriers every two to three years.

I think there are exceptions to that- I've had Progressive for ten years. Every time I compare rates elsewhere, they can't beat Progressive (or if they can, it's so trivial of a difference that it doesn't matter).

Mr. Paws

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Re: car insurance question
« Reply #6 on: April 18, 2017, 02:09:01 PM »
Auto insurance - geico included - raises your rates every year you stay. It's important to change carriers every two or three years. It will top out at about double the first year rate. Every carrier uses different risk software, so you can't ever tell who will be cheapest for you. For example, cheap cars can be more expensive to insure than expensive ones, because they are driven by younger, less experienced drivers.

Same thing happens for business liability insurance, need to change carriers every two to three years.

I think there are exceptions to that- I've had Progressive for ten years. Every time I compare rates elsewhere, they can't beat Progressive (or if they can, it's so trivial of a difference that it doesn't matter).

Thats strange to me.  I was on Progressive for about 3 or 4 years before i switched.  I wonder why I could get a significant discount by switching but you cant?  Maybe they were just severely overcharging me...

ketchup

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Re: car insurance question
« Reply #7 on: April 18, 2017, 02:23:34 PM »
Rates for each provider vary a lot based on geography, and even year to year.  AAA ended up being cheapest for me, with esurance a close second, last time I shopped around (last fall).  I'd been with State Farm and they'd been the cheapest option, but when we replaced our 1992 with a 2009 they wanted to gouge me so I looked elsewhere.  AAA ended up being just over half of what State Farm wanted, and slightly better coverage overall too.