Property/ vehicle insurance increases

[eddielasvegas]

I don't see how an agent can make a material difference like some have suggested. I mean, in customer service, they sure can, but they have zero influence over your premium or if a claim is covered or not.

Am I right?


Eddie


P.S. I really need to find another insurance company so this thread is going to be very helpful me thinks.

 

[IdahoElk]

I got dropped last year, never made a claim in 25yrs, went up 40%

 

[eddielasvegas]

I got dropped last year, never made a claim in 25yrs, went up 40%

Don't you effing love it?

They collect the premiums for 25 years and pay out nothing and the worst part is you have zero recourse.

Insurance companies are a friggin' racket.

Too bad there is not a DOGE for insurance companies, but I'd name it DOIE (Dept. of Ins. Ethics).


Eddie

 

[HONEYBADGER]

Insurance companies saw an opportunity to cash in on those with low house payments because of the 2-3% mortgage rates many achieved a few years back. They know people don't want to throw down their golden handcuffs and sell or move so the insurance agencies are going to milk them. If interest rates ever get back to that range you are going to see an explosion of people moving around the country.

 

[Skerhunter]

I don't see how an agent can make a material difference like some have suggested. I mean, in customer service, they sure can, but they have zero influence over your premium or if a claim is covered or not.

Am I right?


Eddie


P.S. I really need to find another insurance company so this thread is going to be very helpful me thinks.

In my experience a good agent ensures everything is covered properly and if you run into issues they will put you first over whatever company they write for.

When we went cheap we had two claims within a year that were a PIA. One was a totaled truck that took over a year to get paid out and they didn’t want to pay anywhere close to the actual value. The other claim was for a robbery and they didn’t want to cover half of the items stolen/damaged. In the end we cut our losses and reported them to the state for fraud.

 

[TSAMP]

But getting burned once by not having a good agent your trust can cost you thousands in just one claim!

I caved to the wife a while back and went with cheaper insurance to save some money and we got hosed big time. Went back to working with a close friend and I have zero concerns.

I get that. This company took care of me once already, so I have some trust there.

 

[eddielasvegas]

In my experience a good agent ensures everything is covered properly and if you run into issues they will put you first over whatever company they write for.

When we went cheap we had two claims within a year that were a PIA. One was a totaled truck that took over a year to get paid out and they didn’t want to pay anywhere close to the actual value. The other claim was for a robbery and they didn’t want to cover half of the items stolen/damaged. In the end we cut our losses and reported them to the state for fraud.

I'm not trying to be argumentative here, but that's my job to ensure (or is it insure ) everything is covered properly. Not sure the agent adds much value here. None, or very little, of the claim decision making is in the hands of the agent is my understanding.

I'm not certain what you mean by the second part of that sentence so please expound upon it if possible.

Lastly, every insurance company I've ever dealt with (with agents and directly and only a few claims over 40+ years) never pay a claim commensurate with how I paid my premuims. Never. It's always a low-ball game by them and the higher the dollar amount, the more games they play to delay, deny and defend.

Here's another example of why I'm looking for a new company. My son is a new driver since January. Talked with my soon-to-be ex agent and he said he can safe ~20% if he installs an app on his phone and does a short drive to track his driving habits. I said sounds good send me the details.

First off, any entity or company that's willing to save you money for data is NEVER doing it for your behalf. NEVER.

Anyhoo, he sends me the details of the new driver discount and my son has to drive five (5), two (2) hour sessions for the discount. Stop and think about that as a new driver. What a crock by my soon-to-be ex insurance company and agent.

There have have a couple other agent related issues as well as the over-the-top premium increases recently (with no claims) that makes me changing companies an easy decision.



Eddie

 

[Boarmaster]

Mine has increased from about $800 a half to $1600 a half in the last three years. One driver , clean record. $1000 deductible. Had a claim with a different vehicle same insurance carrier about 10 years ago for $5k. Same 2017 Chevy Silverado 1500. I know my vehicle side of the insurance is small compared to their liability risk but holy cow. I paid the last bill but I will be getting quotes next time around. Will probably try and bundle with my Ranger SxS. I think I am overpaying for that coverage as well. I never insured my previous ATVs but the Ranger was about three times the cost of any of those so I decided to insure in mostly against theft.

 

[Gseith]

I don't see how an agent can make a material difference like some have suggested. I mean, in customer service, they sure can, but they have zero influence over your premium or if a claim is covered or not.

Am I right?


Eddie


P.S. I really need to find another insurance company so this thread is going to be very helpful me thinks.

I use a broker and she has been great. About 13 years ago my house flooded. I made a claim as I had about 3ft of water in the basement. No sump, but a gravity fed drain in the floor and it was plugged. Water was pouring in my windows.
Before submitting my claim she advised me I didn’t have flood coverage but I had sewer backup coverage. Essentially advised me to claim the water came from the drain not the window. I was uneducated about my coverage and she helped make sure I received some coverage.

 

[Skerhunter]

I'm not trying to be argumentative here, but that's my job to ensure (or is it insure ) everything is covered properly. Not sure the agent adds much value here. None, or very little, of the claim decision making is in the hands of the agent is my understanding.

I'm not certain what you mean by the second part of that sentence so please expound upon it if possible.

I think finding an auto policy is pretty easy to do on your own with no real risk of being not being insured properly, but it’s all the extra coverage is where they come in handy!

With my current policy (great agent) all my hunting stuff is now covered whether it’s in the house or I’m on a trip with full replacement cost. I was able to roll all of it together in my farm policy that covers my tools/equipment also, so it’s not very expensive.

On the second comment I’m referring to how claims are usually handled. Usually they push back and low ball you at first. A good agent will do the work for you and push back. They know what to say and how to handle claims to get you the best deal. My best personal example of this was on a vehicle claim. 20k mile 3/4 diesel truck that progressive wouldn’t total out. The frame was bent and engine had an unknown amount of damage. My agent had the progressive rep and the repair shop (dealer) agree that if repaired the value would not change. Within 24 hours of the accident I was in a new truck and the dealer gave me more for the wrecked truck than what I originally paid for it the year prior. Agent handled 100% of it and we only spent about 10 minutes on the phone to finalize it all.

That said my agent makes way too much money and I remind him every time I see him !

 

[displacedtexan]

Same here. Unbelievable increases over the last two years. Was told by one insurance company that rates here in Texas and Florida went up due to disasters and the number of claims paid out. Umm how’s that my problem? I’ve never had a claim on my homeowners. Ever. I F****** hate insurance companies.

Because that's how companies work.

If they don't take in more money than they pay out, they go away.

I didn't kill any chickens, but I'm paying more for eggs.

Capitalism 101