Bought new ES350, planning to change Insurance

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Aug 16, 2013 | 02:50 PM

#31

susm

Driver School Candidate

Joined: Jul 2013

Posts: 22

Likes: 0

From: DE

Quote:

Originally Posted by jim256

You must be fortunate in living far inland.......I'm 65 miles from the coast in NC, but I found in 2009 that USAA was charging me $1000 more per year for my homeowners than State Farm is, and I also had a beach house that they were charging me $400 more than State Farm did--for just the non-wind & hail coverage. Very unfortunate, since I had been with them for 38 years. What really bothered me was that when I asked them about the difference, they were really indifferent, and their only remark was that if I cancelled my homeowners, they would never insure a home for me, again (anywhere!). So much for 38 years of loyalty, which annoyed me more than the $1000/year that I had paid for many years. I switched everything to State Farm. The days of "you were in the service, we'll not turn our back on you" are gone, I guess. State Farm has been very good, and after 38 accident-free years, guess what happened in 2010?---Deer runs into the side of my black IS 350, $3500. Perfect repair, all Lexus body panel parts, State Farm came through with flying colors. Homeowners premiums have stayed stable, too. Coastal rates I understand, but why USAA sees such a different risk premium is hard to understand. (Sorry for an off-Lexus topic post, but where you live can play a big role in the insurance cost bundle.)

I currently have Geico and have had a few claims with them without an issue and they have never raised my rates on me (they never have gone down either). I priced out USAA and it was similar. It was about $1400 a year more just on the car insurance alone (I am only paying $1,600 a year on multiple vehicles with geico) and the homeowners was a little more than double the $800 I am paying now.

Aug 16, 2013 | 05:38 PM

#32

Arty101

Lexus Champion

Joined: Apr 2002

Posts: 1,897

Likes: 11

From: SF Bay Area, CA

Not only where you live or your driving record, but your zip code really matters. I moved out of SF into the next county and reduced my insurance cost by almost 30%, everything else being equal.

Aug 17, 2013 | 04:37 AM

#33

coach1

Pole Position

Joined: Dec 2007

Posts: 306

Likes: 2

From: SC

Wow....the USAA negative experience surprised the heck out of me. When I was shopping for a change from State Farm I talked to an insurance broker that represented several companies.....personally covered by State Farm and said she could not come close to competing with USAA, implied they were the best and wished she could qualify.

Aug 17, 2013 | 06:05 AM

#34

jim256

Lead Lap

Joined: Jul 2006

Posts: 561

Likes: 39

From: NC

Quote:

Originally Posted by coach1

USAA was cheaper for the cars (2 Lexus at the time), by maybe $100, but the houses overwhelmed those savings, umbrella cost and others were about the same, and as I wrote, their comments at the time annoyed me more than the dollars. The good news----my "subscriber savings account" was over $7000 at USAA, and they refunded that in 6 months. So, I saved about $1000/year net, and they give me back my $7000 they had set aside over 38 years. I feel like I'm way ahead.

Aug 17, 2013 | 09:28 AM

#35

gmanusmc

Lexus Test Driver

Joined: Jul 2009

Posts: 1,193

Likes: 24

From: CA

Quote:

Originally Posted by coach1

Coach - That's been my experience as well over the past 36 years. Every once in a while I get the urge to compare rates and no one, including Geico, has been competitive with what I get with USAA. They also rebate a portion of your premium into a savings account from which they issue a rebate annually around Christmas time - very timely. Our last rebate was more than $500 and the balance in our account is around $7k. Personally, I don't recall running across a USAA customer who didn't praise their service (until the posts in this thread).

Bill

Aug 17, 2013 | 09:42 AM

#36

LexBob2

Lexus Champion

Joined: Aug 2006

Posts: 12,436

Likes: 231

From: Illinois

This shows that one size doesn't fit all when it comes to auto/home insurance. it's best to shop around and find rates, agents, service etc. that work for you. IMO if one company was really the best everyone would be with them.

Aug 17, 2013 | 10:43 AM

#37

jim256

Lead Lap

Joined: Jul 2006

Posts: 561

Likes: 39

From: NC

Quote:

Originally Posted by bgaerttner

Personally, I don't recall running across a USAA customer who didn't praise their service (until the posts in this thread).

Bill

I'm the poster, and I was definitely a USAA cheerleader for 38 years, did not believe my 2 retired officer USAF &USA neighbors that told me they got better homeowners rates from Nationwide and State Farm---I thought they must have misunderstood something (procrastinating for 2 years) until I checked. Again, auto insurance is cheaper, homeowners at least in NC (yet 65 miles inland), is not. Sadly.

Aug 17, 2013 | 11:10 AM

#38

gmanusmc

Lexus Test Driver

Joined: Jul 2009

Posts: 1,193

Likes: 24

From: CA

Sorry Jim - replied to Coach's post before I saw yours - wasn't directed at you personally. I guess if you're in a flood or fire hazard area, that would have a significant impact on the premiums.

Bill