Car Insurance

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anthrosub -> Car Insurance (8/11/2009 4:19:02 PM)
What wrong with this picture? Car insurance companies are claiming to be "hundreds cheaper" than each other on TV ads. Geico, Progressive, AllState, E-surance, 21st Century, and a host of others. I looked up some comparative reviews of these companies and wasn't surprised with the findings. Here's the funny part. There has to be a baseline for all these price claims to be true but there isn't one. For example, Allstate cannot be cheaper than Geico and Geico cannot be cheaper then Allstate at the same time...or any other combination of companies for that matter. It's all a bad ruse on the comsumer. Also notice how they all seem to need some sort of funny theme in their ads. Based on the reviews I've read, what's happening with auto insurance is sort of a price war. All these companies are cheap already...and wonderful to use so long as you don't have an accident. Just about all of these companies have some of the worst customer satisfaction ratings in the industry. It just goes to show you you get what you pay for.

pahunkboy -> RE: Car Insurance (8/11/2009 4:22:50 PM)
it is a come on to get a person to call for a quote. the claim is meaningless.

MasterG2kTR -> RE: Car Insurance (8/11/2009 5:07:07 PM)
The are actually true. What you have to understand first, is that the people who "save hundreds" are high risk drivers who manage to get insurance from company X after switching and take a minimum coverage policy just to be road legal.

pahunkboy -> RE: Car Insurance (8/11/2009 5:38:30 PM)
If I switched - I might save $20. It isnt worth it. ....this is a good time to mention that the insurance companies are heavily leveraged. I would not count on policies - well- I would not "over insure" anything. Values have gone down. --- you can classify this with lifetime warranties. I think we threw money twice at AIG. I suppose one should re-evaluate ones needs every so often. I get come ons often to switch. How can they possibly save me money? I would have to look to see what my policy costs. Maybe $238 for the year. Maybe if they cut it in half I would switch. but for $20- I wont bother. ....as the way there is no loyalty the way the marketing works in the NEXT year- they "find" all the high risk things they did not see the first year- and BAMM. big increase... but then the dings are on the inquiry record. SO returning to the origninal company wont do much good because now there is a paper trail on the high risks....

anthrosub -> RE: Car Insurance (8/11/2009 5:39:21 PM)
Well one thing for certain is they are not comparing apples to apples. I also read something interesting that people who jump around with different insurance companies frequently enough eventually get a bad rating and this can even impact their credit reports. It pays to do a little research.

pahunkboy -> RE: Car Insurance (8/11/2009 6:02:06 PM)
IMO the smaller name companies offer more value. Skip ALLState- and state farm. If you are looking- ask a local agent. laws vary from state to state and they change. A local agent CAN find the ins and outs even if you do not buy from them. I know I had a hard time when I moved from a state that did not require insurance to one that did. An agent was able to navigate the red tape. But then after I was established I left..... I would have stayed- but they figure if you add a car you cant delete the old one. (go figure) I don't trade my cars in. I keep them and then junk them- so it may or may not be on the road. One thing about a clunker- if one doesn't need full coverage. I know insurance can be expensive.... a waste of money for me. I would rather drive an old car that is paid for- then have the high costs- but then that is me. Some insurances do check your credit. I have not run into that yet-..... luckily. In my experience-it had been both good and bad. I really do HATE that they can force you to have insurance.... yikes.

subfever -> RE: Car Insurance (8/11/2009 6:15:56 PM)
quote: ORIGINAL: anthrosub What wrong with this picture? Car insurance companies are claiming to be "hundreds cheaper" than each other on TV ads. Geico, Progressive, AllState, E-surance, 21st Century, and a host of others. I looked up some comparative reviews of these companies and wasn't surprised with the findings. Here's the funny part. There has to be a baseline for all these price claims to be true but there isn't one. For example, Allstate cannot be cheaper than Geico and Geico cannot be cheaper then Allstate at the same time...or any other combination of companies for that matter. It's all a bad ruse on the comsumer. Also notice how they all seem to need some sort of funny theme in their ads. Based on the reviews I've read, what's happening with auto insurance is sort of a price war. All these companies are cheap already...and wonderful to use so long as you don't have an accident. Just about all of these companies have some of the worst customer satisfaction ratings in the industry. It just goes to show you you get what you pay for. My best guess is that these companies have to be cheaper in at least one area of the country, in order for them to be able to make such claims. Otherwise they'd be running a weighted risk of being nailed for false advertising, plus all the negative backlash that would go along with this. So Company X prices their rates in Moosecrotch, North Dakota (pop 200) below the market. No big loss to them in the big picture. Anyway, this is just conjecture on my part. Can anyone substantiate?

subfever -> RE: Car Insurance (8/11/2009 6:21:17 PM)
I've had very good luck with Country Companies, but have brought a perfect driving record, zero claims, and a decent or better credit score (knock on wood for all 3) to the table. I also enjoy a multi-policy discount.

subfever -> RE: Car Insurance (8/11/2009 7:02:47 PM)
quote: ORIGINAL: pahunkboy I really do HATE that they can force you to have insurance.... yikes. But how else can they get people who otherwise have nothing to lose But how else can they get people, who otherwise have nothing to lose, into the game? ... [;)]

ThatDamnedPanda -> RE: Car Insurance (8/11/2009 7:10:29 PM)
quote: ORIGINAL: MasterG2kTR The are actually true. What you have to understand first, is that the people who "save hundreds" are high risk drivers who manage to get insurance from company X after switching and take a minimum coverage policy just to be road legal. That's got to be it, because if I were to save "hundreds" of dollars, the insurance companies would have to be mailing me a check every 6 months for letting them write my policy. Which would be wonderful, of course, but I'm not expecting it.

gobsmack -> RE: Car Insurance (8/12/2009 2:26:58 AM)
It never hurts to get a quote. It doesn't cost anything but some time. A few years back, when it was time to renew for the next year, I decided to see what else was out there. Fifteen minutes spent walking into a State Farm office saved me $1200 a year. I had a clean driving record and it was for the exact same coverage. Who knows how the original company came up with their rate.

UncleNasty -> RE: Car Insurance (8/12/2009 9:54:32 AM)
It may be beneficial to look into a bond instead of an insurance policy. I have a friend in Ohio that has a bond that costs him about $80 a year. This is for liability coverage only. According to him he can drive almost any vehicle (things like buses and trucks, or operating as a commercial driver in any way are probably excluded) under that one bond. I do know it includes operation of a motorcycle. I've been meaning to look into it myself but haven't found the time. Uncle Nasty

servantforuse -> RE: Car Insurance (8/12/2009 10:04:45 AM)
Many have to be forced to buy insurance because there are way to many people that are to irresponsible to buy it on their own.

pahunkboy -> RE: Car Insurance (8/12/2009 10:17:07 AM)
quote: ORIGINAL: servantforuse Many have to be forced to buy insurance because there are way to many people that are to irresponsible to buy it on their own. maybe- they had to pay the rent.... just sayn--

FullCircle -> RE: Car Insurance (8/12/2009 10:19:25 AM)
quote: ORIGINAL: anthrosub Here's the funny part. There has to be a baseline for all these price claims to be true but there isn't one. For example, Allstate cannot be cheaper than Geico and Geico cannot be cheaper then Allstate at the same time...or any other combination of companies for that matter. It's all a bad ruse on the comsumer. Also notice how they all seem to need some sort of funny theme in their ads. They take the premium which they are shown to be cheapest at and compare it with that of their most expensive competitor creating this grand illusion of the super deal. quote: Based on the reviews I've read, what's happening with auto insurance is sort of a price war. All these companies are cheap already...and wonderful to use so long as you don't have an accident. Just about all of these companies have some of the worst customer satisfaction ratings in the industry. Yeah people even have those price comparison sites to get them the best deal, the power is definitely turning towards the customer. Although it's a kind of lose lose situation where if you make a claim your insurance goes up anyway and having insurance is a legal requirement and they know this so first time drivers are really ripped off. Also now they have insurance on insurance so that you can protect your no claims status if you make a claim (money for old rope).

servantforuse -> RE: Car Insurance (8/12/2009 10:21:14 AM)
It is still very irresponsible to carry no insurance. They are off the hook when a crash occurs and everyone else ends up footing the bill. They shouldn't be driving at all without it.

IrishMist -> RE: Car Insurance (8/12/2009 10:35:40 AM)
Insurance rates depend on alot of things. Your driving record, the area you live in, the kind of car/truck you drive, how new/old it is When I first started driving, I was paying almost 1500 a year in car insurance. I had a two year old used car, fully paid, full coverage...I lived in an area that was deemed high crime rate though. When I moved to texas, I was driving a brand new truck, fully paid..full coverage, but my insurance dropped to about 700 a year...low crime area. When we moved back to Inidiana...originally we moved to the same place that I had grown up in...I was driving a brand new truck, fully paid, full coverage...my insurance jumped to over 2500 a year. The area had deteriorated badly in the 5 years that I was gone. When we moved east to where we are now, same state...my insurance dropped again to 1060 a year...brand new truck, fully paid, full coverage....AND I have a teenager on the inurance now to boot. I have had the same insurance company since I started driving, never been in an accident, never had a ticket...my driving record is squeaky clean. All of these things go into the determination of what you will pay for insurance.

pahunkboy -> RE: Car Insurance (8/12/2009 11:48:32 AM)
quote: ORIGINAL: servantforuse It is still very irresponsible to carry no insurance. They are off the hook when a crash occurs and everyone else ends up footing the bill. They shouldn't be driving at all without it. So- if one cant get to work- dont work. Go one welfare. Not everything in life can be monetized. Just drive safely. Sometimes people really don't have a choice. Seriously.

igor2003 -> RE: Car Insurance (8/12/2009 12:10:26 PM)
Fast Reply to no one in particular Here is how some of the thinking goes at some insurance dealers. When I first got my drivers license my first "car" was a small 80cc Suzuki trail bike. I believe I was 16 at the time. They told me that if I had bought a bigger bike...over 300 lbs...that the bike would hold the road better and my insurance would be cheaper. Also, my rates would go down when I turned 18. A couple of years later I was 18 and I no longer had the little Suzuki. I bought a 650cc Triumph Bonneville. 352lbs with a full tank. Went in to get it insured. Guess what I was told. If the bike was smaller I could get better rates because they had less power and were easier to control!! Also, I could expect my rates to go down when I turned 21. When I turned 21 I no longer had the Triumph but went in to get insurance on my '58 Chevy. I was told my rates would go down when I turned 24!!!! WTF??? That had been the insurance company my parents had used for years, but it was no longer my insurance company after that. Now I normally go to an insurance broker that carries several different brands of insurance. Even with the same insurance company go ahead and ask for a review about once a year to see if you can now get better rates. I've saved hundreds of dollars by doing that. It also helps if you have multi-vehicles as well as your homeowners insurance, business insurance, and any other that you can carry with the same company.

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