mmarshall

One of the major expenses we deal with buying and operating our vehicles, of course, is that semi-annual insurance premium, which, for most companies, is due every six months. These premiums, of course, for many different reasons, can vary enormously, from a few hundered dollars to several thousand.
In fact, proper and adequate insurance is so critical that in many, if not most places, state law will not allow you to pay for a new (or used) vehicle at a dealership and drive home without it....a dealer that sells you a vehicle without proof of the state-required minimum amount can have its dealer license revoked.
Insurance premiums and policies can vary significantly from one place to another because they are governed not only by state law and state insurance commissions, but also by factors such as age, sex, income, employment (my own company, GEICO, has a discount for upper-level Federal employees), type of car you have, how many cars you have (some companies offer multiple-car discounts) HP / torque to weight ratio, safety equipment on the car, original vs. aftermarket stereos, wheels/tires, etc.....how many seats it has, what area or neighborhood you live in and its relative risk factor, and, perhaps most important, the policy holder's personal driving record. Some companies will even give you a pleasant surprise now and then....a rate drop or a partial refund when local conditions allow it, such as when costs in a certain area have been less than anticipated.
You can almost guarantee rate increases in some areas after harsh winters that have a lot of snow and ice, and therefore, a lot of slippery-road-related fender-benders, West Coast earthquakes, or major storms like the Florida hurricanes. This, of course, jacks up insurance costs.

It has become popular in some parts of the auto media......especially from editorials in car-enthusiast magazines......to bash insurance companies left and right, but it must be kept in mind that no matter how it may look from our point of view, these companies are literally assuming the risks for our screw-ups.....and in some cases the screw-ups and the evils of others, like vandalism, car theft, etc.... once the deductibles have been met, not to mention non-human related things like storm damage, rocks on windshields, etc.... They are the ones who have to cough up the money and pay the bills....up to policy limits.....when juries get carried away.

So.....I'm sure that CL is represented with members from a number of different companies and with a lot of different experiences. At least one ( Flipside 909 ) is an professional adjuster by trade.

So...let me now turn this thread over to you guys. What have your experiences been? Are you satisfied with your present company and the way it treats you? Would you recommend this company to others? Do you feel that your premiums are fair considering the car you drive, the way you drive it, the potential costs of repairing or replacing it, and your driving history? Have any of you been dropped and are looking for a second chance? Perhaps this thread can point out some companies that will give people with poor histories a second chance.

gekisai29

as you say it can vary greatly state to state AND the individual carrier but it also depends lots more on the type of claim that is being made,e.g. property damage , medical payments, liability to others. generally carriers are pretty good on property damage not nearlly as good on others. also keep in mind though that most insurance companiies are making huge profits so don,t feel too sorry for them

NeverSatisfied

After doing research, I've found that sticking w/ The Hartford gets me the most coverage for the "least" price, if you can say that. I haven't had any accidents, just 1 comprehensive claim and it was settled smoothly. I'd recommend The Hartford!

flipside909

The best in the industry for claims as rated by JD Powers in 2004 on a national study are in this order:

1) USAA (not really counted since it's only offered to military personnel)
2) Amica
3) Geico
4) State Farm & Automobile Club of Southern California (AAA) - Tied

Mercury Insurance is the worst in the industry for claims FYI.

Automobile Club of Southern California ranks fairly high considering 1) Coverage only available to Southern California residents 2) We have more cars in Southern California than any region in the United States.

mmarshall

Thanks, Flip....I've always liked GEICO myself....for a number of reasons. I'll go into them later when more people have had a chance to post their opinions.

Do you work for ACSC? It appears so from your post.

doug_999

I've had State Farm since I started driving 21+ years ago - no complaints. Even when it was my fault they covered it without raising my rates or terminating my good driver discount. Very impressed with the company.

R1MAN

AAA all the way

aloha08isf

iTrader: (2)

first insurance....expensive but definitely the way to go if you live in hawaii I might be wrong but i dont think there is first insurance in the mainland...

flipside909

Yes I do.

And for everyone else... Auto Club of SoCal is not the same as AAA in Michigan, Northern California (CSAA) or etc, they are totally different entities. So if you have an AAA insurance company thats not Southern California, their rankings don't apply. They're either ranked lower or not even ranked at all.

GS3Tek

iTrader: (8)

good thread mmarshall

Just a thought so bear with me:

For most who are good drivers ( no tickets, accidents...) who continue to pay their insurance year after year, we should be compensated/ reimbursed a percentage for being good drivers. More of an incentive to stay with that company.

Some companys are quick to take your money, but when it comes to paying, its like pulling tooth and nail.

Like what Chris Rock said: "They shouldn't call it insurance. They should call it "In case ***** happens"

...........just my thought

RA40

iTrader: (6)

I've filed a variety of claims over the years and for the carriers I've dealt with back then, Farmers was about as bad as I could imagine. My own adjuster dogged me. They took care of the basics but for the following year and thensome, I was receiving past due statements which the insurance co. was supposed to handle. They didn't return any phone calls or respond to formal letters. When it went to collections, I retained an attorney to settle the rest of the matter. What a PITA.

Mercury... Not as bad as Farmers. The office I had just didn't seem to know what was going on.

When I had an encounter with a So Call AAA member, that was the smoothest experinces I had. He was at fault and within a month, the whole incident was settled beyond my expectations.

mmarshall

I started out with Allstate and was not impressed with the company...especially the adjusters, so I switched over to GEICO in 1982 and have been just delighted with them ever since. They consistantly offer some of the lowest premiums available, offer service around the clock, 24 hours a day, 365 days a year...their telephones never close. They also sell and service directly through customer representatives...no agents. They offer the usual discounts for good driving records and safety equipment on the cars.....plus an additional discount for upper-level Federal Employees. I had one chargable single-car accident some years ago and they even waived the rate increase under their one-time "forgiveness" feature for otherwise safe drivers. I insure a 2001 Lexus IS300 with 100,000/300,000 coverage plus the other things.....collision, comprehensive no deductible, uninsured motorists, etc.... for less than $800 a year. No other company I qualify for has ever given me a lower quote.
Of course GEICO is not for everyone. It is tough to get signed on with them....they are choosy. They will drop people who repeatedly run up chargeable accidents or serious violations like DWI, reckless driving, etc.... They generally will not insure people who have and use radar / laser detectors....although the legality of this varies from state to state. Some states will not allow insurance exclusions for owning a detector.
Of course, there are gome other good....and even excellent.......... compaines too. I did not mean to indicate otherwise. I have seen and heard a lot of good things about AMICA and State Farm, but not everyone can get signed up with Amica either. USAA , like GEICO, has extremely low rates but that is partly because they only insure a select group of people...active-duty and retired military.

mooretorque

I've been with State Farm for many years and have had good experiences overall. There have been few experiences and none recently involved collision (tho I did whack my first SC pretty good back in 92), which at least partially explains why they have been "good". I pay around $800 a year for my GS and another $1100 for the RX. I also have homeowners as well as a liability umbrella thru them. (Being over 50 and a physician with a family doesn't hurt, either.)

One thing to keep in mind regarding insurance companies is that most of their money is not made thru premiums but rather thru investments. The health of the stock and bond market doesn't affect premiums directly but does affect the companies' tolerance for multiple claims, mediocre (from a traffic citation standpoint) drivers, and other factors which, from an actuarial standpoint, reflect risk levels.

WhiteTiger

I've had quite a few experiences over the years. Had State Farm for over a decade until the mid 90's. Within about 2 years I had a DUI and a non-accident claim (water in motor from heavy rain) and they dropped me. All State picked me up, and although they were mediumly priced, they provided good service.

A few years ago I decided to switch to save money to GEICO, what a joke they were. Overall service was OK, but at one point I had 3 vehicles on the policy and then dropped down to 2. After that point they asked for copies of the vehicle registrations, that I faxed to them. They never sent me a renewal notice and by the time I realized it, I was more than 30 days after my renewal was due. When I called them, they said I never supplied the vehicle registration info (which was a lie) and that they couldn't re-insure me. I ended up with Mercury and had to pay a huge premium the 1st 6 months since I didn't have any proof of insurance for the last 30 days. The next renewal, my rates dropped significantly.

Overall, I have a clean record, no tickets in the last few years. No claims or accidents either.

Then Mercury last year almost got away with the same thing. Since my Camaro Z28 is down, I took it off insurance. (Parked in my garage so I feel there is no need to insure it until I make it road worthy again). They sent me a refund of $29 about 6 weeks before my next renewal. Well, they never sent a renewal notice, thank god this time I didn't let the policy elapse. With one day left, I called them and explained the story and until my insurance representative and I spoke with a manager, after 45 minutes speaking to the front level phone operaters, they weren't going to renew my policy. Finally they agreed to renew my policy as long as I provided a credit card right then and there.

From what I have learned or can at least tell. This appears to be a game they play in order to drive up our insurance rates. Miss your renewal and end up without insurance for 30 days, they will triple your rates. Scum! Trust me, I will never miss another renewal date. My current one is April 18th, it is marked in memory.

Be wary and ensure you do the same so you don't get stuck and have your rates go thru the roof for a minimum of 6 months. Plus you will only end up with a lesser quality insurance company.

Other than getting raked over the coals for the non-renewal. My rates have been very fair, but of course, I'm over 40. My Lexus is about $800 annually for full coverage (2002 GS 430). Although I am looking at going back to State Farm or All State, if the they are reasonably priced, since they treat their customers better.

mmarshall

As far as State farm dropping you, a DUI is technically grounds, but most firms would give you at least a second or third chance. Water under the hood from rain is a weather and sealing problem, not yours.......unless you knowingly drove through a three or four-foot deep puddle. And that should NOT have gotten you dropped. You probably could have fought that legally and won.

The treatment you received from GEICO....and I am not doubting your word on that...is not typical of the company. I have dealt with them for 23 years and have never gotten anything but the very highest quality service and treatment......so in your case I cannot comment any further without having been there to see and hear exactly what you said to these people and what they replied back.