Harry P. Posted February 3, 2014 Share Posted February 3, 2014 I've bought my car insurance through one of the biggest name insurance companies for years. Homeowner's, also. So I got my latest car insurance bill, and it got me thinking... is my insurance cost fair? Could I do better? So I did what that cute lizard on TV is always telling us to do... you know, 15 minutes can save you 15%, etc... I went to the local lizard insurance company office (because I didn't want to get an online quote, I wanted a face-to-face human interaction), gave the guy a copy of my current policy, and told him to give me a quote for the exact same coverage. Exact same, 100% apples-to-apples comparison. Same coverages, same limits, same deductibles... same everything. After he ran my driver's license number to check my driving record, he gave me the price. Their price? Almost exactly half of what the "other" company was charging me. I changed insurance companies right there, literally on the spot. Now, I realize that everyone's individual circumstances differ. Your car insurance rate will depend on your sex, your age, your car(s), your driving record, where you live, the coverage limits you want, and all sorts of other variables the insurance companies factor into your rate. But the moral of the story is this: I got a quote from a competitor, and now I will be paying half what I used to pay... for the same coverage. Get a quote from other insurance companies. It costs you nothing, and could potentially save you a lot of your hard-earned $$$. I only wish I had done this sooner. Quote Link to comment Share on other sites More sharing options...
Erik Smith Posted February 4, 2014 Share Posted February 4, 2014 Agree 100%. We have a new driver in the house and had to do A LOT of shopping around - but eventually found a plan that worked. Rates varied tremendously. Some plans were double the cost for the same coverage. We ended up with the lowest quote from a big name company, but tried them all (well, many of them...). Quote Link to comment Share on other sites More sharing options...
slusher Posted February 4, 2014 Share Posted February 4, 2014 I have compared mine more then once and never seem to do better then what I have. its a good idea to keep a check on these things. Quote Link to comment Share on other sites More sharing options...
hgbben Posted February 4, 2014 Share Posted February 4, 2014 Like Carl mentioned, I shop around every 6 months when mine is due....haven't had to change ins. companies in a few years Quote Link to comment Share on other sites More sharing options...
mnwildpunk Posted February 4, 2014 Share Posted February 4, 2014 I did the same thing about 5 yrs ago I was with a big name Co. and when I switched I actually got better coverage for my three cars plus renters insurance which I didn't have before and still paid less then with the other folks Quote Link to comment Share on other sites More sharing options...
Ramfins59 Posted February 4, 2014 Share Posted February 4, 2014 My wife and I did that a couple of years ago and we saved $1,000 per year in premiums for exactly the same coverage for our home and auto insurance combined. Yes, it does pay to check and compare with other insurance companies. Quote Link to comment Share on other sites More sharing options...
Tom Geiger Posted February 4, 2014 Share Posted February 4, 2014 My wife and I did that a couple of years ago and we saved $1,000 per year in premiums for exactly the same coverage for our home and auto insurance combined. Yes, it does pay to check and compare with other insurance companies. Some folks don't know that if you get both your homeowners and car insurance from the same company, you get a decent discount. I have mine that way. And a note of caution... before you run off and sign up with the lowest cost provider, check them out. Some of them are real good at collecting premiums, but stink really bad when you really need them. Quote Link to comment Share on other sites More sharing options...
disabled modeler Posted February 4, 2014 Share Posted February 4, 2014 I like to get good value too but I also like a no problem company...have a claim is taken care of. I will NEVER have Metlife St Paul insurance again...we had full coverage on a fairly new car and making payments on it. It got hit in the rear door which buckled the roof and pushed the rear clip off center buy 3 inches...they would not total it and said it would not need to be re-aligned...all they wanted to do is cosmetics on the car which the rear passenger door was inside the car now. I asked the guy if he knew what my ASE card was?...nope he did not so how is he qualified to say anything...promptly dropped them after a 1/2 price settlement of the actual estimate from the only body shop that would even write one...all others said its totaled with 29,000 miles on it....never again. Quote Link to comment Share on other sites More sharing options...
Harry P. Posted February 4, 2014 Author Share Posted February 4, 2014 And a note of caution... before you run off and sign up with the lowest cost provider, check them out. Some of them are real good at collecting premiums, but stink really bad when you really need them. Agreed. I wouldn't feel comfortable buying coverage from Lenny's Auto Insurance Emporium and Bait Shop, but the lizard outfit is a very well known company with a reputation that they know they have to protect. I'm completely comfortable switching from the company that sells insurance in "all states" to the lizard guys. Quote Link to comment Share on other sites More sharing options...
Fabrux Posted February 4, 2014 Share Posted February 4, 2014 Harry, do you do all of your insurance directly with the company? I deal with a broker that shops around to get me the best price. The company I'm with right now insures my truck and camper for the cheapest I've found. We don't have a lot of options for auto insurance in NB and a lot of companies won't offer insurance here. When my wife and I got married, I got a quote from her company and they wanted the same amount to insure just my truck as I was paying for my truck, car, and camper! And we have our renter's insurance with her company, too! So, even though we live together and are married, we still have seperate insurance policies as my company wants more to insure my wife than what she is currently paying (she rolled her car literally the weekend before we met). Quote Link to comment Share on other sites More sharing options...
Danno Posted February 4, 2014 Share Posted February 4, 2014 There's often value in staying with an insurer for a long time, but, frankly, some get complacent and feel they have a customer for life. In those instances (and probably what Harry experienced), the insurer lets rates creep up to the point competitors offer better rates in order to attract new customers. It's a little like the promos you see for cell phones or cable/satellite TV where they promise dirt-cheap rates for 6months or a year, but you're required to enter a 2 or 3 year contract. After the attractive "new customer only" rate ends, the regular rate is much higher and offsets the savings. You just have to be careful to compare apples to apples. And, as Tom said, check out their claims service records and complaints ratio with your state insurance commissioner or regulatory agency. Some companies are great at collecting a lot of low premiums but not-so-great at taking care of customers. Having said all that, you guys are right ~ it pays to shop around to make sure you're getting as good a deal as you can. And, yes, those discounts for insuring multiple vehicles and/or homeowners/renters coverage with the same insurance company can be HUGE. Quote Link to comment Share on other sites More sharing options...
Harry P. Posted February 4, 2014 Author Share Posted February 4, 2014 Harry, do you do all of your insurance directly with the company? Yes, no third party stuff for me. I like to deal directly with the people who are providing the coverage. Quote Link to comment Share on other sites More sharing options...
Harry P. Posted February 4, 2014 Author Share Posted February 4, 2014 Having said all that, you guys are right ~ it pays to shop around to make sure you're getting as good a deal as you can. I think that as long as you stick to the big names (the companies with a proven track record and a national reputation, and not the Lenny's Insurance Emporiums out there), you'll be ok as far as claims go. Quote Link to comment Share on other sites More sharing options...
Danno Posted February 4, 2014 Share Posted February 4, 2014 I think that as long as you stick to the big names (the companies with a proven track record and a national reputation, and not the Lenny's Insurance Emporiums out there), you'll be ok as far as claims go. You'd think so, but not always so. Some of the big names have poor reputations when the cash flow reverses. They 'bank' on having enough claims-free volume to sustain them when DOI claim complaints or bad faith lawsuits tag them. Quote Link to comment Share on other sites More sharing options...
Harry P. Posted February 4, 2014 Author Share Posted February 4, 2014 I'm taking my chances with the lizard... Quote Link to comment Share on other sites More sharing options...
High octane Posted February 4, 2014 Share Posted February 4, 2014 I'll be gettin' different car/homeowners insurance when my policy is up this summer, as we're paying too much. Quote Link to comment Share on other sites More sharing options...
oldnslow Posted February 4, 2014 Share Posted February 4, 2014 I had the same experience with the lizard, insurance with a mutual company for years and tried to add a dune buggy back on our policy. Was informed they no longer offered that kind of coverage, so I went shopping, now my insurance is less than half of what I was paying. Just had an accident in my truck and they handled everything better than any other time we've had to use our policy. I couldn't be happier with the company. Quote Link to comment Share on other sites More sharing options...
Ace-Garageguy Posted February 4, 2014 Share Posted February 4, 2014 (edited) There are, however, often considerable differences in the actual quality of the repairs your vehicle will get if it's insured by the lizard guys or somebody old-name. The lowball companies INSIST on aftermarket sheetmetal parts, lights, bumpers, and a host of used LKQ junkyard bits...which very often don't fit correctly or are just plain worn out, and they cut the labor rates to the bone, so the shops that specialize in lizard repairs sometimes don't get the top talent in the body repair biz. And I've had claims reps in my shops from the lowballs that didn't have a clue as to how to write a correct estimate. Just a reminder...you almost never get what you pay for, but you ALWAYS pay for what you get. I've got more than a little experience on both sides of this industry. Edited February 4, 2014 by Ace-Garageguy Quote Link to comment Share on other sites More sharing options...
Skydime Posted February 4, 2014 Share Posted February 4, 2014 (edited) Agreed. I wouldn't feel comfortable buying coverage from Lenny's Auto Insurance Emporium and Bait Shop, but the lizard outfit is a very well known company with a reputation that they know they have to protect. I'm completely comfortable switching from the company that sells insurance in "all states" to the lizard guys. That little lizard is awesome! I pretty much fully customized one of my cars when an older lady stopped at a red light and then decided to pull out and slightly tap me in the bumper cover fender and hood corner. She had the gecco and that little bugger hooked me up. Incidentally, I have them as well now. Edited February 4, 2014 by Skydime Quote Link to comment Share on other sites More sharing options...
Guest Posted February 4, 2014 Share Posted February 4, 2014 I'm taking my chances with the lizard... Can you make monthly payments with the lizard, or do you have to pay for 6 months up front? Quote Link to comment Share on other sites More sharing options...
disabled modeler Posted February 4, 2014 Share Posted February 4, 2014 We have Progressive now....only had one claim with them over the years...no problems what so ever and they will take monthly payments too...planing on staying with them. Quote Link to comment Share on other sites More sharing options...
donb Posted February 4, 2014 Share Posted February 4, 2014 I have had the lizard for over 20 years. Never had a problem with claims. Never. Plus they have an express shop about a mile from me. They have always treated me very very well! And their premiums are pretty darn affordable too. But I do shop around once a year just to make sure Quote Link to comment Share on other sites More sharing options...
Chuck Most Posted February 4, 2014 Share Posted February 4, 2014 My psychiatrist told me I was going crazy. I told him, "If you don't mind, I'd like a second opinion". He said "Alright, you're ugly too." Quote Link to comment Share on other sites More sharing options...
Harry P. Posted February 4, 2014 Author Share Posted February 4, 2014 Can you make monthly payments with the lizard, or do you have to pay for 6 months up front? You can do monthly payments. My psychiatrist told me I was going crazy. I told him, "If you don't mind, I'd like a second opinion". He said "Alright, you're ugly too." Thanks, Rodney... Quote Link to comment Share on other sites More sharing options...
kennb Posted February 4, 2014 Share Posted February 4, 2014 We were with a name brand for years. At first the quoted rates did not come about and they crept up month after month...We kept complaining and there was always excuses....We were dealing face to face with the company agent but he seemed to never know what the company actually was charging us or could give a straight answer. After 4 years the rates quadrupled so we contacted Flo and got insurance for 1/4 or what we were paying.......now we can again afford to drive We will double check rates again in a year......just to make sure. Quote Link to comment Share on other sites More sharing options...
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