Insurance - How often do you compare companies?

Discussion in 'Hot Entrepreneurs: Build Wealth & Share Links' started by greenfrog57, Aug 12, 2014.

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How often do you get new insurance (Auto/Homeowners) quotes?

  1. Once a year

    3 vote(s)
    33.3%
  2. Every 3 - 5 years

    2 vote(s)
    22.2%
  3. Only when I think my rates are ridiculously high....

    3 vote(s)
    33.3%
  4. Never

    1 vote(s)
    11.1%
  1. greenfrog57

    greenfrog57 Mod Of The Month July 2011 Staff Member Administrator Super Mod Trader Group

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    (And, why is it my job to check?!!) I got a phone call from XYZ Ins Co that DH was wanting a quote. I thought it was a scam so I politely told her she could call back to speak with DH. She said he requested an internet quote. So, I called to check, and DH declared we're paying too much for our Homeowners/Auto/Valuable Property Policies. So, now I need to check around. Is it worth it to waste an afternoon calling around to compare?
     
  2. 3timesoccermom

    3timesoccermom The Original "Viral" Foodie

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    I don't call, I do it online and I do it regularly, especially for car insurance. It IS a giant pain though and I feel sure that fact keeps a lot of people from going through the hassle of checking other companies.
     
  3. greenfrog57

    greenfrog57 Mod Of The Month July 2011 Staff Member Administrator Super Mod Trader Group

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    So [MENTION=207859]3timesoccermom[/MENTION] - how often do you change companies?

    PS The great deal he thought was going to be was not when he realized we have 2 minor incidences on file in the last 3 years. Yikes it went up almost 50% when he remembered the older incident. We will try again when that one falls off.... Or before the next renewal.
     
  4. shelleyf

    shelleyf Member of the Month March 2009 Trader Group

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    I used to check often but it is very time consuming and got me nowhere. Online usually won't give you an accurate quote they said and is usually higher when you talk to the agent so that doesn't work well. They said it is just a guideline. Anyway I found out I need to appreciate the company I have even though I hate it. My homeowner's insurance with my company is $1000 a year cheaper than any other one I contacted and I contacted a bunch of companies. There were some that were even more than that. And yes it was for identical coverage. So I am thankful I called so I know I am getting a great deal. They don't know how this company could offer this rate. Nobody else I have ever talked to pays this low amount. It is a very well-known company too.
     
  5. JulieDB

    JulieDB New Member

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    I have no need to check. We get a military discount with Geico. I think they are the only place that does that.
     
  6. BudgetDriven

    BudgetDriven New Member

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    The only insurance I have is auto. I used to compare rates every couple of years or so but always ended up staying with the same company. I was with them for something like 20 years until they had raised their rates several years in a row. At that time I checked with an independent agent who offers insurance from several (usually) smaller companies. They had a company that would give me more coverage for less than I had been paying even before the latest price increase my company had asked for, so I switched. The new company has even lowered my rate. After about five years with them, my insurance is still several dollars less than it was when I first switched to them. I pay $114 every six months for liability only, so the last time I renewed I added towing and roadside assistance for an additional $7 per six months. All that for less than my previous company was charging five years ago for less coverage, and their rates have continued to climb since then. For those who have a clean driving record and have no reason to think that is likely to change, I highly recommend at least checking with an independent agent to see if they can offer you a lower rate. They also handle life, homeowner's, and renter's insurance, and maybe more.
     
  7. 3timesoccermom

    3timesoccermom The Original "Viral" Foodie

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    We hadn't changed companies in years until just last month when I changed auto insurance from Geico to Progressive. State Farm does get on my LAST nerve though constantly nagging me to add our auto stuff to the home policy but we have checked and they are not cheaper.




     
  8. BudgetDriven

    BudgetDriven New Member

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    In my case, I have found that any company that can afford to advertise charges much more than a small company that doesn't advertise charges. In the case of Geico the difference is hundreds of dollars. I don't think I've even bothered to check with Progressive. American Family is the one that I had for about 20 years.
     
  9. Green is Gold

    Green is Gold Member of the Month 6/12 - Queen Of Circle Driving Staff Member Moderator Trader Group

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    I am VERY happy with Progressive for our auto insurance.
    They are FAR lower than any insurance we have ever had.
    We DID do the "Snapshot" because at the time, my husband literally drove less than 2 miles to work and we hardly ever went anywhere.
    Our rates are EXTREMELY LOW.

    Our homeowners insurance is a smaller company and I HATE them, in fact, I NEED to check into other companies.
    We had SEVERE hailstorms at our house a couple of years ago.
    We have holes in our siding and shingles hanging from our roof.
    ALL of our neighbors got new siding and roofs...our company basically said we were thieves, trying to steal from them and they were VERY nasty.
    It was Erie Insurance, by the way...I have ZERO loyalty to them, they were BEYOND unprofessional.
     
  10. shelleyf

    shelleyf Member of the Month March 2009 Trader Group

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    I'm sorry they did this to you:( You should have got a new roof like the rest of them. My insurance did that to me before. My husband used to be a roofer when he was 16 years old. He is now 43 and had to go on the roof a few times over the last few years and do major work. Thank the Lord he knows what he is doing as it only cost us $30 and his time. And me sitting down below praying he doesn't fall off. I hate him going on the roof.
    I had Progressive years ago and hated them. They were the most mean people and the highest rates ever. I am glad they gave you a good deal. We have a clean record and never had any problems on it. No speeding tickets, etc.
     
  11. shelleyf

    shelleyf Member of the Month March 2009 Trader Group

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    Where I live Progressive is outrageous prices and rude. Geico is very expensive and the 15 percent they say you save is a joke, at least in my case and we have clean records. I guess it depends on where you live and we don't drive far either.
     
  12. 3timesoccermom

    3timesoccermom The Original "Viral" Foodie

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    I ordered the snap shot things but was wondering if they could make the rates go up? Middle daughter lives in a huge college town with, naturally, thousands and thousands of young-ish drivers and she says in less than a week she often has to brake hard 3-4 times and I know, from driving around there myself, that even if you try to leave several car spaces between you and the vehicle in front of you it does no good - people just see it as their opportunity to jump in front of you.


     
  13. gctattoo

    gctattoo Well-Known Member Trader Group

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    We checked into a cheaper company a few years ago. Unfortunately, it won't be cheaper for us until we put on a new roof. With the original roof from 1994, we'd end up paying quite a bit wherever we go. Unless a hurricane comes through and damages the one we've got, a new roof is not in our future.
     
  14. greenfrog57

    greenfrog57 Mod Of The Month July 2011 Staff Member Administrator Super Mod Trader Group

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    Ooh-- good to know about Progressive's Snap Shot. DH drives about 2 miles to work. We drive more to the gym LOL

    I need to check again after an incident drops off in October. We just renewed, but can get refunds if we change our mind with USAA. Apparently, I used the one time accident forgiveness in 10/11 and we have to have another 5 year accident free (would be 10/17 at the earliest - Grr! so rates won't change with USAA when my incident drops off. Grr!)

    Gigsie - How come you don't have Progressive for Homeowners?
     
  15. gctattoo

    gctattoo Well-Known Member Trader Group

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    We have Progressive for our car insurance and did the Snapshot. It saved us 30%.
     
  16. NoHio

    NoHio Well-Known Member Trader Group

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    I voted "every 3-5 years" both because it's true and because I wanted all the lines to be equal.
     
  17. Green is Gold

    Green is Gold Member of the Month 6/12 - Queen Of Circle Driving Staff Member Moderator Trader Group

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    @greenfrog57 Progressive doesn't offer homeowner's in Ohio. :sad3:

    The Snapshot thingie only monitors the time of day you are driving (the middle of the night, when the bars close is considered more high risk), the number of miles driven and the rate of acceleration & braking.
    It also knows your VIN number and whether or not the device has been unplugged.

    No Renee, they can't raise your insurance, it can stay the same (they were already quite a bit lower than our last company) or go down, up to a max of 30%, which was the discount we received.

    We don't have an agent, we just deal with them through the website or the 800 number.
    They are always extremely nice.
    We have found it is cheaper this way and honestly, the issues we had with Erie, were with our insurance agent (who represents several different companies), not the Erie claims department.
     
  18. irishsaver

    irishsaver Well-Known Member Trader Group

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    I used to have Travellers then switched to Plymouth Rock!!
    Was paying about 10K for 4 cars got it down to about 8 and now 7 over time and that was with teenagers!! That includes one or two fender accidents!! Actually its gone down even more now as we are down to 3 car and 3 drivers right now!! Thats NJ Insurance for yeah!! :wink7:
     
  19. Green is Gold

    Green is Gold Member of the Month 6/12 - Queen Of Circle Driving Staff Member Moderator Trader Group

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    I don't even know how to respond to that.
    I am in complete SHOCK!!! :shock1:

    We pay less than $40 a month for full coverage on DH's truck and liability on my van.
    The vehicles are older (12ish years) we have roadside assistance and towing as well.
    Even when we had a teenager, with her own car and 2 claims (she wasn't cited for either incident, but they were claims nonetheless) and we were with the more expensive company, we only paid around $150 a month!
    Husband's full coverage motorcycle coverage is less than $200 a year and our homeowners is only around $1,200 a year!

    ETA: Insurance here is considered "high" because in the city of Youngstown, OH it is estimated that 45% of drivers have no licence, no insurance or BOTH!!! :hectic:
    My zip code helps slightly, but not much, because the suburbs are still technically Youngstown.
     
  20. phoenyxstarr

    phoenyxstarr Member Trader Group

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    We have esurance right now & I'm not too happy with them. We got a new car at the end of May and our rates went from less than $90/month to $160/month and the only thing different is the car is a 2006 model while our old one was a 1999. I tend to request quotes every 6 months when our insurance is due to renew because I keep hoping that someone will be able to give us lower rates! I haven't had any luck yet though so I'm afraid we'll be using esurance for a while yet...
     

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