Author Topic: Question About Comparing Car Insurance Companies in 2015?  (Read 2858 times)

Russell

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Question About Comparing Car Insurance Companies in 2015?
« on: August 10, 2015, 08:30:16 AM »
Long time reader & first time poster. I have browsed through and haven't been able to find anything comprehensive that compares auto insurance in a trust worthy fashion so here goes:

I have been paying insurance in entirety $620/yr, ($61/mo but I would never do that), for my current auto insurance with Progressive. I was reading through Consumer Reports and found them recommending thezebra.com to surf through insurance companies in my area. Well it got me to thinking I should switch. This is my current policy (I apologize for the poorly formatted table, but I couldn't figure out a good way to do it):

Coverages  /Limits /Rate

Bodily Injury & Property Damage Liability: $100,000 each person
$300,000 each accident
$100,000 each accident /$248.00
Medical Payments: $5,000 each person /$11.00
Uninsured Motorist Property Damage: No Coverage /$0.00
Comprehensive: $100 deductible /$45.00
Collision: No Coverage /$0.00
Rental Reimbursement: No Coverage /$0.00
Roadside Assistance: Selected /$6.00
Custom Parts and/or Equipment value: $0.00 /$0.00
Loan/Lease Payoff: No Coverage /$0.00
Total rate for this vehicle:   $310.00/6 mo.


One of the most interesting policies for Illinois was through Metromile - $39 +.05/mile but there were other more standard policies through companies like Secura ($104), Cincinnati Insurance ($112), Hanover ($114). Now I realize these are quotes only on my vehicle, and are going to without a doubt end up higher. But I have a hard time believing they will get as high as my current policy currently is costing me.

Does anyone have experience and thoughts about going through with one of these companies? Should I be nervous about not insuring through one of the mass advertised larger companies?

Thanks for any insight!
« Last Edit: August 10, 2015, 12:17:43 PM by RussellP »

Russell

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Re: Question About Comparing Car Insurance Companies in 2015?
« Reply #1 on: August 11, 2015, 02:06:17 PM »
I am going to bump this because I really wonder if anyone has any thoughts/ experience on going through a smaller company besides the big State Farm/ Geico/ Progressive companies. Any reason not to switch?

Thanks!

ShoulderThingThatGoesUp

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Re: Question About Comparing Car Insurance Companies in 2015?
« Reply #2 on: August 11, 2015, 02:16:43 PM »
I just did this after using a bank as a broker - signed up with Westfield. Their website is crap, but I'm saving $500 a year.

waffle

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Re: Question About Comparing Car Insurance Companies in 2015?
« Reply #3 on: August 11, 2015, 02:34:49 PM »
I just went through the zebra site and it was pretty worthless for me. I put in my info and it gave me a bunch of great looking preliminary quotes, but when I clicked on one to confirm it said it couldn't connect to that site. Same thing for all the other good looking rates.

I'm pretty sure my phone and email will be spammed fairly non stop for a few weeks now by insurance companies...

TheInsuranceMan

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Re: Question About Comparing Car Insurance Companies in 2015?
« Reply #4 on: August 11, 2015, 03:08:03 PM »
I am going to bump this because I really wonder if anyone has any thoughts/ experience on going through a smaller company besides the big State Farm/ Geico/ Progressive companies. Any reason not to switch?

Thanks!

You should be able to find small "mutual" companies in your immediate area.  They have less risk because they don't write in every state, and can be more affordable.  Also, in my mind, just like with other purchases, sometimes you get what you pay for.  With auto insurance, that only comes with claims handling, but the difference can be vast between one company to the next.  The cheapest (tv, microwave, oven, bed, etc.) isn't always the best option...

Spoken like a true insurance agent, right? :)

Russell

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Re: Question About Comparing Car Insurance Companies in 2015?
« Reply #5 on: August 12, 2015, 09:53:01 AM »
Waffle, if zebra is not lying, they said you will only receive quotes from the agents you inquired about, and none of the others, so I would be surprised/disappointed if that happened to you. (I have not received anything I have not asked for).

Currently I am looking through the quotes from Metromile, Geico, and Elephant Auto, which are each fairly comparable and will probably end up going for one of those.

I still kind of wonder about how different claim resolution can be. As in, the larger companies know they can lawyer up and fight harder to keep from paying claims than the smaller companies because they can, so wouldn't that be an argument against larger companies?

I have a strong feeling that I get to keep what I don't pay for here was well as in investing. Insurance companies have to run their numbers very conservatively, so the numbers are going to be helping them make a profit more than helping me avoid a huge loss, which chances are very small. Especially since I drive about 1000mi/year.

Thanks for the responses everyone.

Stachetastic

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Re: Question About Comparing Car Insurance Companies in 2015?
« Reply #6 on: August 12, 2015, 10:01:11 AM »
I was with Allstate for many years, despite ever-rising rates. I stayed with them FAR too long out of fear of going with a smaller, lesser-known company. What if I had a loss? What if my new coverage sucked? Well, when Allstate paid for only half of my storm damaged roof, then raised my rates to boot, I was done. I just recently switched auto and home to Liberty Mutual and am saving $850 per year. The jury's still out on how good they are with a loss (knock on wood), but I am willing to take the risk.

waffle

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Re: Question About Comparing Car Insurance Companies in 2015?
« Reply #7 on: August 12, 2015, 10:30:43 AM »
Waffle, if zebra is not lying, they said you will only receive quotes from the agents you inquired about, and none of the others, so I would be surprised/disappointed if that happened to you. (I have not received anything I have not asked for).



I had about 15 calls yesterday from several different companies.

Russell

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Re: Question About Comparing Car Insurance Companies in 2015?
« Reply #8 on: August 14, 2015, 08:52:16 AM »
@ Stachetastic - I agree, I think insurance companies want to keep their money, and the larger ones might be better equipped to do that even.

@ waffle - Well that's disappointing, I apologize for being the cause of those calls...