Checking insurance rates

[flygirl]

I got my bill for my next 6 mo of insurance and got a crazy increase.  About a year ago I called another carrier and the rates were similar so I didn’t pursue it any further.  Yesterday I decided to check another carrier and it looks like we can save $100 a month between HO/car, etc which is so odd to me considering it’s essentially the same coverage. So make sure you check your rates and get quotes every year or so!

[simpsongal]

YUP! My numbers are not that bad, but I hate that auto carriers essentially make you shop around to save money (so much for loyalty).

Meanwhile, my mom is still paying auto insurance for my dad even though he died a year and a half ago. She said she tried to call but couldn't get through so she's just put it off until she has time. UGH.

[polarbearfans]

Make sure you are comparing apples to apples. While on the surface the coverages may look the same, the coverages can be different. With the current insurance carrier I have under collision it cover the gap on loans/leases, covers personal property, and includes rental. The carrier my ex-husband currently has does not have gap insurance, personal property coverage, or rental. He is paying a higher premium than I am for less. The rental is an extra charge. Unfortunately you don’t really know what the coverages are unless you have access to the policy to read. An agent can be a big help in this regard.

The homeowners policy I have is a named exclusion policy so anything that is not named is covered. There are also named peril policies where it only covers what’s listed. You need to make sure you know what you’re getting.

Good luck. I wish insurance was more transparent upfront about what you’re getting.

[RockNVoll]

Maybe consider working with an insurance broker. The real estate agent who sold us our first house referred us to a great local guy for insurance and he's so great to work with. 17-years later (wow) and he's still our guy for auto and home insurance and checks rates for us whenever we ask.

[idahome]

I would also reach out to an insurance broker and have them get quotes on your policies. They will then compare the quotes line-by-line to make sure any price reduction in premium still gives you the exact same protection.

I would shop my coverage once a year.

[midwestmama]

Mar 10, 2022 23:44:56 GMT -5 RockNVoll said:

Maybe consider working with an insurance broker. The real estate agent who sold us our first house referred us to a great local guy for insurance and he's so great to work with. 17-years later (wow) and he's still our guy for auto and home insurance and checks rates for us whenever we ask.

Yes, 100% this.  We have a local broker that a friend referred us to, and he's been great (we've used him for the last 10 years).  At annual renewal time if the rate looks much higher, he'll shop it around if we ask.  

[rooster222]

We switched to using a broker last year (after Allstate screwed us over) and we're saving a few thousand dollars a year with better coverage. Our broker automatically checks for better rates for us every year.

[Susie]

Mar 10, 2022 23:44:56 GMT -5 RockNVoll said:

Maybe consider working with an insurance broker. The real estate agent who sold us our first house referred us to a great local guy for insurance and he's so great to work with. 17-years later (wow) and he's still our guy for auto and home insurance and checks rates for us whenever we ask.

+1

We changed carriers a year or two ago, but our insurance broker did the shopping for us.  We've probably been with our broker for 13 years or so.

OMG the spam you get when you do it yourself, it never ends.  And it takes forever, reentering everything over and over, in each different website.  Never again!

[dancingirl21]

We also switched to a broker 2 years ago. That said, we had a claim and it was not the best experience. My DH was rear-ended by a drunk driver who then fled the scene. DH chased him (OMG, I know) and called 911 then came to his senses and let the police handle it. All that to say the other driver had no insurance. Our broker helped us as much as possible, but because he didn't work for the actual insurance company, only had so much pull. We shopped a bit after that but ultimately decided to stay with the broker for now.

[mrsjuleshs]

My agent is a friend and his officve checks for the best rates every renewal. He has saved me a TON of money!

[mommin]

We used selectquote auto & home as our brokers several years ago. I called on a whim when I heard about them on here in a life insurance thread. After I got the life insurance squared away at a pretty big savings I decided to reach out to their auto and home division. They only provide quotes from A, A+, and A++ companies so I felt fairly confident in what they would suggest. We ended up switching from State Farm to MetLife (bought out by Farmer’s recently) and saved almost $1000/yr. We had been with State Farm for 9 years with no homeowner claims and no at-fault accidents or tickets and we’re still paying way too much. I was a little shocked.