Auto Insurance Question

Discussion in 'After Hours Lounge (Off Topic)' started by SethH, Dec 20, 2004.

  1. SethH

    SethH Cinematographer

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    Ok, I'm only 22 so I don't have too much experience with insurance. My car is still under my parents policy while I'm in school (I pay them for it, but it's cheaper to be on their policy). My fiancee and I (getting married in May) stumbled into a great deal on a '99 Honda Accord for $4000 below Kelley Blue Book (the low price is due to the fact it is currently owned by my sister). We are planning to purchase this car to replace my fiancee's '88 Camry. We are going to get a new insurance policy to cover both my car and the new Honda.

    My current policy is with GEICO. I've was extremely pleased with their service when I was hit by a drunk driver three years ago. So I have no complaints with GEICO. However, I've gotten cheaper quotes online from both Progressive and NationWide.

    I would like to hear your experiences with these two companies from a service point of view (customer service, filing claims, fairness of payouts, etc).

    Also, any suggestions on other good companies I should get quotes from? I've tried GEICO, StateFarm, and AllState. All were significantly more expensive than the other two I mentioned. Thanks!
     
  2. Mark Philp

    Mark Philp Second Unit

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    I've been with State Farm for over 20 years and would never switch solely to save a few bucks. Even so, I always get two or three other quotes every couple of years just to make sure their rates are still competative. I also like the fact that I have a local agent who knows me by name and can handle any problems locally.

    At your age, it's going to be hard to get really good rates, but some companies give you a discount once you're married. You should also get a break if you insure two vehicles. If you buy a house and insure it from the same company that's usually another discount. Usually a few years without tickets or accidents help you too.

    Because of your age, and since you said you were happy with them, you might find it better to stick with your present company because you have a track record with them even if you pay a little more. In most states you'll see a big reduction in your rate when you turn 25. Once you're there it will be easier to shop around. Good luck.
     
  3. Leila Dougan

    Leila Dougan Screenwriter

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    I have USAA now and am really pleased with them. But prior to that, I had State Farm. Now, I really liked State Farm too and they treated me well, but their "local agent" thing really started causing problems for me. I was younger, moving around a lot, and it was just a hassle to get all my information transfered and find a new agent. So I dropped them for a company that has a nationwide network, all linked via computer, and that's made my life so much simpler.
     
  4. Scott L

    Scott L Producer

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    Another USAA user since my father was in the Navy. I used to have Progressive. Was average at best but based on one accident I had where the other person was at fault I won't be going back with them. We both thought each other was at fault but there was no police report so we each ended up paying for our own damage. I think my agent could have made a case to the other person's ins. company that would have made them pay for everything but I dunno, she just seemed she wanted to rush things along and I had to drop $500 on my deductible for $700 in damages. [​IMG]

    USAA also charged me a lower rate.
     
  5. SteveA

    SteveA Supporting Actor

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    Most states also give under-25 males a big break if they get married.
     
  6. SethH

    SethH Cinematographer

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    I actually agree with this, but the State Farm quote was $300 higher than Progressive every 6-months (ie $600/year), which is more than a few bucks. You guys are correct that there's no such thing as cheap insurance for someone my age. My fiancee and I both have zero points against us, so that helps a lot. The cars are a '99 Accord and a '00 Intrepid and the rates I've been getting are about $900 every 6 months to cover both cars. I currently pay $540 every 6 months for GEICO with my parents.

    We will see several discounts in the next year hopefully. My fiancee is graduating from college and we're getting married. Also, she'll be a year older which will help since she's younger than I am.

    I'd appreciate information from others also. Thanks!
     
  7. Win Joy Jr

    Win Joy Jr Stunt Coordinator

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    I have been a 20+ year customer (no claims - no tickets) of State Farm and will be meeting with my agent next week to see if they will do anything to match the quote I got from GEICO which was 39% lower for the same coverage. I am insuring 2 vehicles and my home. If I do not get a better price from State Farm, then we will jump to GEICO on all policies.
     
  8. Matt Butler

    Matt Butler Screenwriter

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    Progressive is very good for Claims but a bit expensive for some people. Our standards for servie are quite high. (I work for them). However even though I work for them I have my insurance through Costco/AMEX for my renters and auto. We were just too damn expensive and I was able to put renters with AMEX as well. PRG doesnt do homeowners or renters.

    Just make sure the quotes you are getting are identical and the limits are the same for comp/coll, bi/pd liability etc. Ive seen way to many cases of people awitching or getting a "better quote" and then finding out they dropped or lowered coverages and not realised it.

    Please dont think im insulting you or your intelligence; since I work in the industry im just speaking from experience.
     
  9. Jason Kirkpatri

    Jason Kirkpatri Second Unit

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    My thoughts:

    Go with the cheapest you can find. I personally only deal with my insurance broker once a year - at renewal time. Even then, it's fax or email.

    I would not pay an extra $50 for a consistent broker if I didn't need to. I shop the cheapest rates and go there. Ultimately, IMO, brokerage service is not something I'm willing to pay for when IMO, brokerage service really only occurs during a claim. I guess if you have a lot of claims/accidents, a good broker service would be a valid point.
     
  10. Philip_G

    Philip_G Producer

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    pretty recently switched to esurance.com because they're cheap.
    No claims yet so I can't comment on their service.

    was with SF for years until shortly after 9/11 they started dropping a lot of customers, they've also moved almost every aspect of their service onto the agents, no more online claim filing or renewals as near as I could tell
     
  11. Ted Lee

    Ted Lee Lead Actor

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    no offense to matt, but i thought progressive was a scam - they really pissed me off.

    i checked out their rates online, which turned out to be pretty good. but, *after* i signed up with them, and paid my bill, they came back and told me they'd have to raise my rates for some reason (i don't remember now...but i remember thinking it was baloney) -- when i complained and told them that was not what i was quoted, they weren't cooperative at all.

    i would *never* recommend them...actually i just told someone at my work this same story.
     
  12. Matt Butler

    Matt Butler Screenwriter

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    Sorry about that Ted. And No I didnt take offense to your comments. [​IMG] As I said before I wont go with Progressive. They just pay me.

    Im actaully looking to go independent soon.
     
  13. Philip_G

    Philip_G Producer

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    BTW, get a quote from www.amica.com
    they're well liked and were really cheap when I had a WRX.

    BTW, I've not had geico, but dealing with them if a geico policy holder hits you is a NIGHTMARE. This is the only experience I have with them, and I woudln't in a million years sign up with them.

    One good thing I can say about state farm, they use real, new, OEM parts, no aftermarket.
     
  14. Ted Lee

    Ted Lee Lead Actor

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    bah! i knew you wouldn't...i was more worried about everyone else. [​IMG]
     
  15. SarahG

    SarahG Second Unit

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    I've been with Geico for a few years and I guess they have been fine. I haven't really had to test them yet.
     
  16. SethH

    SethH Cinematographer

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    Ok, I've got another question. Can someone help me out with split limits versus "combined single limit"? I know the idea behind it, but which is really better?

    For my best quote right now I could get 100/300/100 coverage for about $900 every six months for the two cars. I could spend $925 to get $300,000 combined single limit coverage. Or, for that same $925 I could get 250/500/100. Which of these is the best option? I was originally thinking the 300 CSL was the best because it does not limit the per-person liability or the property damage (all is included up to $300,000). I think this is probably worth the price above the normal 100/300/100 coverage. But then I noticed the 250/500/100 coverage and am questioning which is better.
     
  17. SethH

    SethH Cinematographer

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    I understand your frustration, but isn't this really what you want from you insurance company as a policy holder? I want my company to be careful and stingy when paying out claims to others because if they are too quick to payout or payout too much it may raise my premiums more than they should be raised. Please don't get the idea I'm out to screw people. As I menioned earlier, I have no points and have only been involved in one accident where I was "hit-and-run" by a drunk driver.
     
  18. Matt Butler

    Matt Butler Screenwriter

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    Seth,
    Re: CSL or split limts.

    The benefit behind split limits is that you dont have a limit or a maximum for each category. You have 500k to pay for everything ie; medical, property damage etc. Split limits will max out at 250 per person, 500 max per collison, 100 property. If someone was hospitalised and was facing a 300k medical bill the 250/500 wouldnt cover it but the 500 CSL would. The 300 CSL would but you wouldnt have any left for property.

    For the quote you got I would go for the CSL. I hope you understand my explaination. Feel free to PM me and Ill be more than happy to help you further.
     
  19. Philip_G

    Philip_G Producer

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    You don't think they'll treat you the same way?
     
  20. SethH

    SethH Cinematographer

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    Well, I don't know. But I've read a similar story about every single insurance company out there. This may surprise you, but there aren't any insurance companies throwing money out the windows to anybody who wants it. You have StateFarm, that works for you. I'm not willing to pay an EXTRA $600 per year to get StateFarm. I will likely go with NationWide as they have given me the best quote so far.
     

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