| Posted by | Message |
kennypowers816 
LSU Fan
Houston
Member since Jan 2010
772 posts
| Why certain insurance companies? (Posted on 6/13/12 at 1:35 pm)
Spinoff from the other 2 insurance threads:
Who do you buy your insurance from and why? (Broker or direct)
If direct, why do you go with a particular company? (cost, reputation, etc?)
In theory, if its the same coverage for a lower premium, you should just go with the cheaper quote. But I know some people prefer particular companies because of claims issues, etc. If that is your approach, can you please elaborate as to why you go with a certain company over potentially "discount" type companies with the same coverage.
FYI - I'm talking mainly homeowners, renters and auto.
TIA 
Me:
Auto - Progressive because it was significantly cheaper than others I was quoted for the exact same coverage. Allstate was literally more than twice the price for the same coverage.
Renters - Farmers because progressive doesn't offer it in my area, and it was cheaper than other quotes I got.
|
| Back to top | Share on  |
Slickback
LSU Fan
Deer Stand
Member since Mar 2008
22002 posts
| re: Why certain insurance companies? (Posted on 6/13/12 at 1:57 pm to kennypowers816)
I'm an independent agent, so I'll shop for the cheapest rate. If it is with a captive agent, I have no problem going with them. There are several companies I won't touch though.
|
| Back to top | |
KG6
LSU Fan
Member since Aug 2009
620 posts
 Online
| re: Why certain insurance companies? (Posted on 6/13/12 at 2:02 pm to kennypowers816)
(no message)
This post was edited on 8/7 at 11:43 pm
|
| Back to top | |
kennypowers816
LSU Fan
Houston
Member since Jan 2010
772 posts
| re: Why certain insurance companies? (Posted on 6/13/12 at 2:04 pm to Slickback)
quote:
There are several companies I won't touch though.
If you don't mind me asking, who and why?
|
| Back to top | |
Chad504boy 
New Orleans Saints Fan
Five Oh Four
Member since Feb 2005
64894 posts
Online
| re: Why certain insurance companies? (Posted on 6/13/12 at 2:06 pm to kennypowers816)
Premiums
Company Ratings
Coverages
Deductibles
|
| Back to top | |
Slickback
LSU Fan
Deer Stand
Member since Mar 2008
22002 posts
| re: Why certain insurance companies? (Posted on 6/13/12 at 2:10 pm to kennypowers816)
quote:
If you don't mind me asking, who and why?
Anyone who isn't rated by AM Best.
|
| Back to top | |
Chad504boy
New Orleans Saints Fan
Five Oh Four
Member since Feb 2005
64894 posts
Online
| re: Why certain insurance companies? (Posted on 6/13/12 at 2:25 pm to Slickback)
quote:
Anyone who isn't rated by AM Best.
meh... i wouldn't say that across the board. Sometimes the premiums are worth the "risk".
|
| Back to top | |
Slickback
LSU Fan
Deer Stand
Member since Mar 2008
22002 posts
| re: Why certain insurance companies? (Posted on 6/13/12 at 2:44 pm to Chad504boy)
quote:
meh... i wouldn't say that across the board. Sometimes the premiums are worth the "risk".
No doubt, but with good credit and a new house you can still get a cheap arse rate with a better company.
Some people need a little Lighthouse in their life, though.
|
| Back to top | |
Chad504boy
New Orleans Saints Fan
Five Oh Four
Member since Feb 2005
64894 posts
Online
| re: Why certain insurance companies? (Posted on 6/13/12 at 2:45 pm to Slickback)
quote:
you can still get a cheap arse rate with a better company.
not in the world i live.
|
| Back to top | |
Slickback
LSU Fan
Deer Stand
Member since Mar 2008
22002 posts
| re: Why certain insurance companies? (Posted on 6/13/12 at 2:48 pm to Chad504boy)
Northshore?
If it doesn't fit with ASI or Bankers they usually or SOL in our agency. I quit dealing with Occidental and Lighthouse due to piss poor underwriting and lack of professionalism.
Gulfstream has pushed me close to that point, but not over the edge yet.
BTW, Got anyone that will insure a metal building with living quarters as a primary residence in St. Tammany?
|
| Back to top | |
DandyPimp
LSU Fan
New Orleans
Member since Jan 2007
739 posts
| re: Why certain insurance companies? (Posted on 6/13/12 at 2:53 pm to Slickback)
Slick - care to expand on your experience with Occidental? Just went with them for homeowners. They were signiciantly cheaper than my other alternatives.
|
| Back to top | |
Chad504boy
New Orleans Saints Fan
Five Oh Four
Member since Feb 2005
64894 posts
Online
| re: Why certain insurance companies? (Posted on 6/13/12 at 2:53 pm to Slickback)
quote:
Northshore?
If it doesn't fit with ASI or Bankers they usually or SOL in our agency. I quit dealing with Occidental and Lighthouse due to piss poor underwriting and lack of professionalism.
Gulfstream has pushed me close to that point, but not over the edge yet.
ASI is pretty high with a lot of the market... southshore mostly too. SFIC, Centauri, Americas, GeoVera baby....
quote:
BTW, Got anyone that will insure a metal building with living quarters as a primary residence in St. Tammany?
HO3 policy or a dwelling policy?
|
| Back to top | |
Slickback
LSU Fan
Deer Stand
Member since Mar 2008
22002 posts
| re: Why certain insurance companies? (Posted on 6/13/12 at 2:59 pm to Chad504boy)
HO3, but may need to do a DF.
I put it with AMIG and they shite on me. Called and asked for underwriting asked for approval, got it, wrote her name down, issued it, and then got a non-renewal with a bs reason. There is no point fighting with them either. Underwriter that non-renewed it sent me and email stating, "i'm sorry you were given incorrect information, but we are not able to accept this risk." 
quote:
SFIC, Centauri, Americas, GeoVera
We have a contract with Americas, but probably only have 2 on the books.
You write through Lighthouse? Try their new program? I'm timid after dealing with Waterstreet. I'll wait til some other agents in our office issue a few. I was the scapegoat the first go round.
|
| Back to top | |
Chad504boy
New Orleans Saints Fan
Five Oh Four
Member since Feb 2005
64894 posts
Online
| re: Why certain insurance companies? (Posted on 6/13/12 at 3:01 pm to Slickback)
quote:
You write through Lighthouse?
yeah, haven't put much there yet, usually something fits better elsewhere.
|
| Back to top | |
Slickback
LSU Fan
Deer Stand
Member since Mar 2008
22002 posts
| re: Why certain insurance companies? (Posted on 6/13/12 at 3:02 pm to DandyPimp)
quote:
Slick - care to expand on your experience with Occidental? Just went with them for homeowners. They were signiciantly cheaper than my other alternatives.
I wouldn't have a problem being insured by them, they just make it hell on the agents. They are A- Rated through AM Best, and have a solid policy.
If you've already went through the underwriting process then I wouldn't worry about it. If you haven't and your home isn't in perfect (like almost brand new), expect an underwriting memo and an increase in your dwelling coverage.
|
| Back to top | |
Chad504boy
New Orleans Saints Fan
Five Oh Four
Member since Feb 2005
64894 posts
Online
| re: Why certain insurance companies? (Posted on 6/13/12 at 3:07 pm to Slickback)
quote:
Slickback
all the companies have become PITA's... you just gotta learn to roll with it and play by their rules.
|
| Back to top | |
Slickback
LSU Fan
Deer Stand
Member since Mar 2008
22002 posts
| re: Why certain insurance companies? (Posted on 6/13/12 at 3:10 pm to Chad504boy)
quote:
you just gotta Get a new job.
The stupidity of some of the underwriting memos and the underwriters themselves amaze me. I've been left in awe of their ignorance, on multiple occasions, after hanging up with them.
|
| Back to top | |
DandyPimp
LSU Fan
New Orleans
Member since Jan 2007
739 posts
| re: Why certain insurance companies? (Posted on 6/13/12 at 9:40 pm to Slickback)
quote:
If you've already went through the underwriting process then I wouldn't worry about it. If you haven't and your home isn't in perfect (like almost brand new), expect an underwriting memo and an increase in your dwelling coverage.
My policy went into effect in late April. Their inspector was out then (at least he put a doortag out). Have not heard anything. Am I in the clear? House is over 100 years old. I'm sure they could nitpick if they wanted.
I was depopulated from citizens this year. The new company Access Insurance quoted a 14% increase from my last citizens policy at about $4200. Occidental came in at $3000
|
| Back to top | |
H2O Engineer
LSU Fan
Charlotte, NC
Member since Feb 2011
516 posts
| re: Why certain insurance companies? (Posted on 6/13/12 at 9:46 pm to kennypowers816)
I'm with nationwide now because state farm dropped me after my reckless driving and it was the cheapest quote I could find. Plan on getting back with state farm in 3 months after the charge is expunged.
Anyone have any opinions on nationwide?
|
| Back to top | |
reb13 
Ole Miss Fan
Oxford, MS
Member since May 2010
7968 posts
| re: Why certain insurance companies? (Posted on 6/14/12 at 12:45 am to H2O Engineer)
Usaa, because they're unbeatable.
|
| Back to top | |
