Insurance Question(s)

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HowAboutThis

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A few weeks ago got the 6-month premiums. Up about another 10%. Two 2017 cars (Subaru and Corolla) with $1k deductibles and upper end of coverage amounts. So not the cheapest policies but not maxed either.

Shopped around, and State Farm was SUBSTANTIALLY lower. State Farm was almost 50% less for similar/same coverages.

Anyone have State Farm? Do they do the usual "get you in the door then jack up rates in a couple years?" Currently with GEICO and other insurers I shopped were within a few dollars or more expensive. State Farm shocked me it's so much lower. It was the prices we were paying 10 years ago for insurance. Which is why I'm wondering if it's "too good to be true."

Anyone have thoughts?
 
I switched to State Farm last year for the same reason. Home and Auto both substantially lower. The local office texted me asking if I wanted a quote and I said why not.

Probably in 3 years someone else will be cheaper and I will switch again. In my experience its a 3 year cycle. I shop price from a known major carrier. No loyalty here.
 
Make sure you're not double paying for coverage

I have Comp & Collision on my vehicles, and when I looked at the cost breakdown, under/uninsured coverage was a substantial cost

But guess what, if someone hits me with no insurance, I can just claim against the Comp/Collision anyway! The ONLY thing that under/uninsured coverage gets you is a low, or sometimes no, deductible.

The cost difference of the policy made up the deductible cost in no time after I ditched the coverage
 
I switched home and auto to State Farm last year, to the tune of big savings. They’ve had a large rate decrease recently so it makes sense they are cheaper for you. They’ll probably jack rates up but the switch saved me $4 or $5,000 between home and auto in one year. It pays to shop.
 
HowAboutThis said:
A few weeks ago got the 6-month premiums. Up about another 10%. Two 2017 cars (Subaru and Corolla) with $1k deductibles and upper end of coverage amounts. So not the cheapest policies but not maxed either.

Shopped around, and State Farm was SUBSTANTIALLY lower. State Farm was almost 50% less for similar/same coverages.

Anyone have State Farm? Do they do the usual "get you in the door then jack up rates in a couple years?" Currently with GEICO and other insurers I shopped were within a few dollars or more expensive. State Farm shocked me it's so much lower. It was the prices we were paying 10 years ago for insurance. Which is why I'm wondering if it's "too good to be true."

Anyone have thoughts?
Click to expand...
My thoughts are always go with the best price.
If they raise rates in a year switch again. You can always find a better price.

Many companies will offer a discount in the first year. But you can use that to your advantage.
 
SupremePossum said:
Make sure you're not double paying for coverage

I have Comp & Collision on my vehicles, and when I looked at the cost breakdown, under/uninsured coverage was a substantial cost

But guess what, if someone hits me with no insurance, I can just claim against the Comp/Collision anyway! The ONLY thing that under/uninsured coverage gets you is a low, or sometimes no, deductible.

The cost difference of the policy made up the deductible cost in no time after I ditched the coverage
Click to expand...
This isn’t entirely correct.
You typically want the highest underinsured and uninsured coverage you can get. Hopefully the same as the liability you carry for yourself.

If someone hits you and doesn’t have insurance coverage or has the state minimum, that is nothing compared to a possible lifetime of medical treatments for you and your occupants.
So if the other car is at fault, you won’t be able to get blood from a stone and unable to recover any damages
I carry the same half million dollar liability for myself plus under insured and uninsured which is for liability
 
alarmguy said:
This isn’t entirely correct.
You typically want the highest underinsured and uninsured coverage you can get. Hopefully the same as the liability you carry for yourself.

If someone hits you and doesn’t have insurance coverage or has the state minimum, that is nothing compared to a possible lifetime of medical treatments for you and your occupants.
So if the other car is at fault, you won’t be able to get blood from a stone and unable to recover any damages
I carry the same half million dollar liability for myself plus under insured and uninsured which is for liability
Click to expand...

Well, I already pay for health insurance...

I could insurance myself 10 times over to not have any risk, but gosh darn what kind of life is that?
 
SupremePossum said:
Make sure you're not double paying for coverage

I have Comp & Collision on my vehicles, and when I looked at the cost breakdown, under/uninsured coverage was a substantial cost

But guess what, if someone hits me with no insurance, I can just claim against the Comp/Collision anyway! The ONLY thing that under/uninsured coverage gets you is a low, or sometimes no, deductible.

The cost difference of the policy made up the deductible cost in no time after I ditched the coverage
Click to expand...
This is not correct information. Uninsured motorist is much more comprehensive than this. If you subscribe to this theory -you must have a minimum of assets.
 
SupremePossum said:
Got any information on that?

Progressive themself told me that anything I could claim on Uninsured, I could claim between Comp/Collision
Click to expand...
It's already been explained to you from what I can see. You are too cheap for your own good-respectfully. And a minimum of assets.
 
Insurance companies initially have a very low premium to "lure" your business but tend to go up substantionally afterwards. I was with State Farm for several decades until three years ago when they went up big time. I switched to Progressive and chopped my premiums nearly in half for the same coverage. I never had any issues with State Farm but my claims were minor. I would play the game and go for the lower premiums. Allstate is the one I would stay clear of.

The insurance business is crooked anyways and there is nothing you can do about it.
 
My grandfather had state farm for many years he no longer drives but as far I recall he had no issues with them. My wife and I were long time Geico members until we moved out of state they were giving us telephone numbers for premium rates did the same to my in-laws. We're all now on progressive same exact coverage and deductibles rates were cut more than in half.
 
I have switched multiple times in the last few years. Seems like the business model currently. I would take the lowest premium, hope they don't raise it too much in 6 months, then switch again in a year if I needed.

If you are a Costco member don't forget to shop their plan (American Family). They have been cheapest for us so far.
 
My 6 month renewal just came in $3 less than last cycle, surprisingly. No complaints here. That said, I've switched many times before and have zero loyalty to any company. I'll switch again if/when the rate jack comes.
 
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