Is there any good reason these days not to switch insurance companies. Policies are similar except for deductible on tropical cyclone but there is $150 difference per month.

Alpine said:

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Is there any good reason these days not to switch insurance companies. Policies are similar except for deductible on tropical cyclone but there is $150 difference per month.

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Do it.

But you might as well try Farmers and Progressive. They are typically less expensive than SF and Allstate.

Premiums aside would you think there's any benefit to being a long term customer (30 yrs+) with very limited claims history or is that a pipe dream?

halfastros81 said:

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Premiums aside would you think there's any benefit to being a long term customer (30 yrs+) with very limited claims history or is that a pipe dream?

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My wife had a car crash and $100k on the payout (she was at fault for failing to yield on a left turn). We moved her from progressive to Travelers and the insurance cost went down when we did it. She had been with Geico for like 10 years prior to the one blemish.

From my experience, always shopping around (like electrical rates) can help!

halfastros81 said:

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Premiums aside would you think there's any benefit to being a long term customer (30 yrs+) with very limited claims history or is that a pipe dream?

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If you've been with Progressive for a while, you get large accident forgiveness, so if you have a big accident, they act like it never happened on your premiums. But I'm not banking on having wrecks so that doesn't matter to me.

Otherwise, there is very little benefit

halfastros81 said:

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Premiums aside would you think there's any benefit to being a long term customer (30 yrs+) with very limited claims history or is that a pipe dream?

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HAHAHAHAHAHAHAHAHA
HAHAHAHAHAHAHAHAHA

oh, wow.


HAHAHAHAHAHAHAHAHA

I used to do insurance defense, now do plaintiff stuff. I've had so many clients over the years that don't even want to make a claim worried their rates will go up. I'm like, "if they raise your rates, so what, just shop around." Why buy it if you aren't going to make a claim?

They have zero loyalty to you. F 'em. I have USAA and they've been getting ridiculous. I've been shopping around.

And from a litigation perspective, they are no different. It's not like one has good lawyers and the others do not. In many cases, it's the same guy.

Make sure you buy all the uninsured motorist coverage they will sell you. A little medical payments coverage is good too. Not totally sure about Texas law, but from my dealings with it, they are similar. Forget the agent. Talk to a Texas lawyer to figure out what you actually need.

The problem with that is it will be on your driving record from 5 to 7 years and no matter where you go to get a quote or shop around it's gonna show up on your driving record with increased rates.

My rule of thumb is to pay anything $3,000 or less out of my pocket and claim everything above that.

Making a claim and having increased premiums at let's say $150 a month for 5 to 7 years is $9-12k

rlb28 said:

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The problem with that is it will be on your driving record from 5 to 7 years and no matter where you go to get a quote or shop around it's gonna show up on your driving record with increased rates.

My rule of thumb is to pay anything $3,000 or less out of my pocket and claim everything above that.

Making a claim and having increased premiums at let's say $150 a month for 5 to 7 years is $9-12k

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In Ga it's 3 year driving history. Still. If they quote you less they quote you less. Raise my rates and I'm going to another company even if it's the same price. F 'em.

Go with the cheapest. They are all terrible right now when it comes to claims handling. Set aside about $1500 for an independent insurance appraiser to handle the claim correctly under the "Appraisal Clause".

For house State Farm is better claim wise than dealing with Allstate

Made the switch. Hate switching but it seems like a necessity every few years. And they all have good and bad reviews.

Agree with this, although 10 years ago I felt pre-suit and litigation some of them were a lot easier to work with from the plaintiff's side.

Now they all are a pain in the ass so it doesn't really matter.

CC09LawAg said:

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Agree with this, although 10 years ago I felt pre-suit and litigation some of them were a lot easier to work with from the plaintiff's side.

Now they all are a pain in the ass so it doesn't really matter.

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Yep. When I did insurance defense with SF they had periods where they would settle everything and then periods when they litigated the hell out of everything.

GoAgs92 said:

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These companies spend $3 Billion each on advertising every year and say they need to raise rates to stay profitable...what a load.

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I'll have to chime in on this one (takes me back to business school times).

This post uses terrible logic. For some reason, people can't seem to grasp service industries versus goods industries. This is not directed at you, GoAgs92 - this is a very common fallacy. First, a goods example:

If Nike decided to quit advertising to make their shoes $10 (or $50) cheaper, how would that work out? Terribly, of course. Their sales would likely decrease rapidly (marketing actually works!), while fixed costs stay fairly constant over time, therefore robbing shareholders of their expected return on investment. Adidas would be very happy! Which predictably would then cause Nike to increase profit by raising their prices (maybe above their previous price point), making their customers worse off, as well. This creates a downward profit spiral which can cause companies to fail.

Service industries (a bank, Microsoft, your local cable company, insurance companies, etc.) have a similar situation. If they cut back or quit advertising, the savings doesn't go back to customers, in fact, it likely goes to shareholders of their competitors! And causes their company to eventually fail, destroying jobs and reducing competitive service choices for customers.

You may not like their advertising or the amount they spend on it, but the alternative may be far worse for everyone. That's capitalism - - if you want no advertising and centrally-set prices (and the inevitable result of consumer shortages), there are countries that will accommodate you.

Quote:

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If Nike decided to quit advertising to make their shoes $10 (or $50) cheaper, how would that work out?

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I generally agree with you, but in this example the decision to purchase Nike has a lot to do with brand strength. You're not necessarily price checking them. Marketing is incredibly important to them.

Some consumers are USAA/State Farm/All State brand loyalists, but for the rest of us insurance is a commodity and I don't care who it is as long as I think they will actually pay my claim. So in that sense, the big guys spending money to advertise makes that customer segment feel that their higher premiums are worth it. The smaller guys that the rest of us price check don't bother to advertise.

just moved car deductibles to 10k and house to 5%...

trying to drop our rate... has gotten ridiculous!

I went from SF to AS, saved similar amount.
They all suck, pick the cheapest of the big guys.

fulshearAg96 said:

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I shop my insurance every year... maybe I am in the minority but I don't see any type of value staying with a particular company long term if the dollars don't make sense

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How do you find time to haggle with these companies annually?

Neither, get Farm Bureau

Adding a teen driver soon...anyone have better luck with one carrier over another after adding a teen? Currently with SF, who doesn't offer a drivers ed/defensive driver discount.

Chupa, i'm afraid you're just gonna have to do it yourself or use a broker like Liere. What's good for someone else is probably not gonna be good for you, rates are all over the place.

I had teen twins, and a 20 year old on my policy. Ugh!!! I usually bounced back-and-forth between progressive and Geico. Whoever gave me the best price.

sjones said:

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Neither, get Farm Bureau

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They are good for about a year-18 months, then they jack the rates hoping you won't notice.

Alpine said:

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Is there any good reason these days not to switch insurance companies. Policies are similar except for deductible on tropical cyclone but there is $150 difference per month.

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When I first started in the insurance industry 20 years ago State Farm was the gold standard. We couldn't beat their rates, their customer service or their claims handling. Now, we all do a happy dance when we get a potential customer coming to us from State Farm for a quote.

Here's a good reason... https://www.yahoo.com/finance/sectors/healthcare/articles/regulators-seek-suspend-state-farms-180539792.html

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California regulators may seek to suspend State Farm's license for up to a year and levy millions in penalties against the insurer, alleging it mishandled January 2025 wildfire claims in Los Angeles County.

In an extraordinary step, the Department of Insurance announced Monday that it filed an administrative action against the state's largest home insurer after an investigation into 220 sample claims found 398 violations of state law in about half of them.

"Our investigation found that State Farm delayed, underpaid, and buried policyholders in red tape at the worst moment of their lives," Insurance Commissioner Ricardo Lara said in a statement. "That is unacceptable, and we are taking decisive action to hold them accountable."

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rlb28 said:

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Alpine said:

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Is there any good reason these days not to switch insurance companies. Policies are similar except for deductible on tropical cyclone but there is $150 difference per month.

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When I first started in the insurance industry 20 years ago State Farm was the gold standard. We couldn't beat their rates, their customer service or their claims handling. Now, we all do a happy dance when we get a potential customer coming to us from State Farm for a quote.

Here's a good reason... https://www.yahoo.com/finance/sectors/healthcare/articles/regulators-seek-suspend-state-farms-180539792.html

Quote:

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California regulators may seek to suspend State Farm's license for up to a year and levy millions in penalties against the insurer, alleging it mishandled January 2025 wildfire claims in Los Angeles County.

In an extraordinary step, the Department of Insurance announced Monday that it filed an administrative action against the state's largest home insurer after an investigation into 220 sample claims found 398 violations of state law in about half of them.

"Our investigation found that State Farm delayed, underpaid, and buried policyholders in red tape at the worst moment of their lives," Insurance Commissioner Ricardo Lara said in a statement. "That is unacceptable, and we are taking decisive action to hold them accountable."

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I left State Farm many years ago to try a well-known broker on this board for many years, thinking they were shopping me around and getting me the best deal. I saved a couple hundred bucks that first year.

More recently, my home rate increased exactly 50% from 2024 - 2025, despite them "doing all they could" to shop it around. Then, from 2025 - 2026 my homeowners premium increased another 46%. I had no home claims in over 15 years.

I shopped it myself with five carriers and ended up back at State Farm, back at 2024 rates, with much better coverage for $5000 less than I would have paid for 2026 for home and auto. And, I'm back to full replacement on my roof, which the broker told me was impossible.

I'd shop it, and don't believe everything your broker is telling you. They have a limited number of companies they are appointed with and are missing a lot of the market too.

A lot of that depends on where you live.

This is more valuable to some than others, but I still appreciate State Farm having local agents that if it comes down to it you can just walk in there and see someone right now when you're exhausted with 1-800 numbers.

I'm a roofing contractor and know a few State Farm agents that will really go to bat for their policy holders where they can. I appreciate stuff like that. Of course that's only as good as the individual State Farm rep.