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Topic: Insurance (was price question) (Read 1 time) previous topic - next topic
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Insurance (was price question)
Yahoo Message Number: 23041
Terry, you raise some very valid points to check when you are requesting an insurance quote. The issue of liability limits cetainly foremost among them. I mentioned early in this thread that I started receiving quotes in the $600 annual premium range from both Progressive and GMAC, and from my State Farm agent. I tried to make sure that I was comparing apples to apples, and have to say for the most part that the companies made that part of the comparrison quite easy. When I posted that my Progressive premium went down to the low $400 range, what I didn't mention that it did have the increased 250,000/500,000/100,000 libility limits. And I verified that my umbrella 1,000,000 through State Farm would in fact still be in effect. Another good thing with the Progressive coverage, in my opinion, was that they were not concerned with the annual mileage, only that it be in use for less than half the year. GMAC did want to know annual miles, and I had to guess at that. One question that I do wonder about though, is what if I had said yes to the first quote from Progressive and delayed finalizing the coverage for another couple of weeks, and then I went to give them the premium, would they have given me the lower annual fee? This was a saving of almost $200/year! The agent could not answer this question, only that Progressive had notified him that they had reduced their premiums to get new business. I will take issue with one part of your post, and that is "what happens if you make a large claim?". I think that if you have had a large claim, it will affect your premiums. The lowest premiums will go to those who have demonstrated a history of not having claim. How well the insurance company handles claims is hard to predict. The ease of obtaining a fair and equitable settlement often depends on the adjuster, and YOUR negotiting skills. At least that has been my experience. You are correct though in that with insurance as with all else, the cheapest price is not always the least expensive! Steve K Steve K
Steve K

2003 Mid-bath