Posts
8055
Joined
4/1/2008
Location
Mesa, AZ
US
G-man
3/3/2021 11:45am
3/3/2021 11:45am
Who do you guys use? It seems each year my Auto policy goes up but this year it jumped up quite a bit.
Currently with Travelers and have used Progressive before (currently have my bikes with them and it is reasonable). I also bundle it with my home and have not had claims at all.
We recently got a new car so of course I understand it would be more but they break it down per car and a 04 Toyota Corolla went up $87 for 6 mo.s along with the other previous vehicles. Makes no sense to me so I asked the rep as she said it was because I added another car. Duh! But what does the new car have to do with the EXISTING ones?
So I said what if I sell one of the cars and the Toyota went up EVEN more for 3 cars! Makes NO SENSE to me and I told her that but she was very rude. So I want to take my business elsewhere.
Thanks
Had this popup on my phone and they have good reviews, anyone use them?
Just Insurance Services
https://www.justinsuranceaz.com/
Thanks
Currently with Travelers and have used Progressive before (currently have my bikes with them and it is reasonable). I also bundle it with my home and have not had claims at all.
We recently got a new car so of course I understand it would be more but they break it down per car and a 04 Toyota Corolla went up $87 for 6 mo.s along with the other previous vehicles. Makes no sense to me so I asked the rep as she said it was because I added another car. Duh! But what does the new car have to do with the EXISTING ones?
So I said what if I sell one of the cars and the Toyota went up EVEN more for 3 cars! Makes NO SENSE to me and I told her that but she was very rude. So I want to take my business elsewhere.
Thanks
Had this popup on my phone and they have good reviews, anyone use them?
Just Insurance Services
https://www.justinsuranceaz.com/
Thanks
They are usually ultra competitive.
Thanks
The Shop
Thanks 👍
Company A needs more policies to spread out their risk pool, so either lowers their rates (or more accurately probably doesn’t raise them as much as their competitors!!!!), and hopefully brings in more lower risk policyholders through stringent underwriting. Once they have a ‘better’ risk pool, they can begin to incrementally raise rates knowing that the first policies leaving will probably mostly be the highest risk (and cost) policies. Once the prices rise too much for the lower risk/lower overall cost policyholders (who generally don’t change insurers all that often) to blindly stay with them, it’s time to start the downward cycle phase again.
That cycle usually takes 2-5 years, meanwhile Company B is doing the same thing but in opposite phases.
Some companies don’t have as severe of swings as others do, though.
So the best way to start writing policies is to close the current product to new policyholders and open a new product with new rates. The public doesn’t even realize that the 2 neighboring homeowners with the same insurer and very similar homes can actually be in 2 completely different insurance products, even though everything about their policies, where they send their premiums, etc might look identical.
Auto products don’t generally quite stop and start new products quite the same, but it does sometimes happen.
Tip: Always research those Insurance Commissioner candidates that no one really pays attention to during the election season!!!!! And forget any partisan perceptions about them, just look to see who their biggest campaign donors are. If you see a lot of insurance companies or industry groups, start looking some more. Insurance commissioners should be guarding their constituents from insurance companies, and not the other way around.......
Has anyone here done the same, and then decided to use a local agent? Is there any benefit to using a local agent to shop policies anymore?
Now if you are talking about having a local agent or just an 800 company for the SAME insurer, there shouldn’t be a difference in cost so there shouldn’t be any reason not to initiate the policy with them. You should still be able to do all of the online policy changes, inquiries, etc that the insurer offers.
There could be a difference between how much the agent earns depending upon whether you initiated the policy with them or with corporate, though, but if there is it probably goes away after a couple of renewals or so.
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