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 PittsburghVixen
Joined: 6/27/2009
Msg: 27
Ridiculous car insurance ratesPage 2 of 4    (1, 2, 3, 4)
Thank you, Cheshire and NotTooFishy. Voices of reason - hooray!

I am an insurance agent for the largest mutual company and I see this "willfiul ignorance" constantly with clients. The rule in my office is that if you come in new you WILL know exactly what coverages are available and why they cost what they do, and the consequences of your choices of coverages. We try every day to educate the existing clients who were there when I took over three years ago, but refuse to discuss their coverage even when I can save them some money. I cannot make changes without their informed consent, but they'd rather p*ss and moan about their bills than try to understand what they have, why they have it, and what they can do to lower their rates.

All companies are doing the credit checks now. If your company says they're not, they're lying. Almost all companies are taking rate increases this year on automobile and homeowners' insurance because the risks have gone up. Fraud is becoming more and more widespread, and as more people go uninsured, when an insured person is hit by someone without insurance, their company has to pay out and can't subrogate. How far you drive, how often you drive, how old you are (if you're under 25 and over 75), your gender (if you're under 25), your driving record, how much it costs to fix your exact year/make/model/bodystyle of vehicle, how much damage it does to someone else's car and body in an at-fault accident, how well that vehicle protects you and the other occupants of your car, where you live and the level of risks inherent there (theft, vandalism, etc.)...there are over one hundred factors that go into underwriting insurance for your car, and you DO have control over some of those. I talk to people all the time who would rather b*itch about their rates than do anything to improve them, and they don't want to be bothered to get the discounts that are offered. ~shrugs~

Like that old commercial for Syms used to say, "An educated consumer is my best customer."
 PittsburghVixen
Joined: 6/27/2009
Msg: 28
Ridiculous car insurance rates
Posted: 9/14/2009 8:09:27 PM
In order for a company to pull credit, don't you need an authorization from the applicant prior to obtaining a report, since doing so affects their rating?


Only a "hard hit" affects credit rating. A "soft hit", which is what is pulled for insurance rating purposes , does not affect the credit rating. I don't know about other companies, but mine requires that we read a statement to the client or prospect before we run a new quote (the credit-check part is built into the quoting process). If they request a quote online through one of the lead aggregators, there is supposed to be a general statement during the information-gathering process to tell the person that the companies will pull their consumer information, and by proceeding with the quote they are agreeing to provide that information in order to obtain their best rate.

If a person does not provide the personal information, we end up with an "average" score - which may produce a premium that's higher than what they'd really get if their actual consumer information indicated a better rating than the "average".

FYI on automobile loans - if you are car shopping and looking at different sources of financing, all credit scores pulled within a 30-day period count as one "hard" credit hit, so shopping around within a short period of time does not negatively impact your credit score.
 singleagain66
Joined: 12/29/2007
Msg: 30
Ridiculous car insurance rates
Posted: 9/15/2009 3:07:45 AM
Saharam since you want to know what insurance I use when most didn't say who they insurance is but its all good I am with USAA and sorry to say but they mainly catered to Active / Reserve and and those who were military not to mention other parts of the government. They did great by all my friends & family who joined up with them and I my self just took my time in getting with them. They also offer alot of things like I said and you just go to one place for it all. And yes I trust as my brothers has been with them over 30 yrs with no problem at all.
 singleagain66
Joined: 12/29/2007
Msg: 31
Ridiculous car insurance rates
Posted: 9/15/2009 3:18:11 AM
By the way SaharaM whats your deal on your insurance is it a big secrect or something as just about everyone here had something to say about theres and they also in my opinion admitted why they have high ins and what city / state or country they are in. Do you even drive or your just someone who is working for insurance companines and saw this and figure you get some intel on what pissing people off mostly.
 HoldingHands27
Joined: 12/16/2009
Msg: 32
Ridiculous car insurance rates
Posted: 1/11/2010 11:29:42 AM
If you're insured by one of those high-end companies that airs TVadvertisements 4 or 5 or 6 times an hour...
on 20 or 30 or 50 channels....
Consider Where the $$$ comes from to produce and air those ads...
(Advertising time aint CHEAP, you know..!!)
It comes from _Profits_..!!
~ If you want better rates....go with a small company....
that doesn't -gouge- you to supply their _Advertising Budget_...!!! ~
 VF102
Joined: 7/14/2009
Msg: 34
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History
Ridiculous car insurance rates
Posted: 1/11/2010 4:57:45 PM
I have 3 cars with FULL coverage on 2 of them. My bill per YEAR is $2,400. Haven't had a ticket since 2001.

Jason the Fed
 helpimstuck
Joined: 7/14/2006
Msg: 35
Ridiculous car insurance rates
Posted: 1/11/2010 5:16:28 PM
not shure where you get your insurance from and whats your driving record is.. but i have a 97 pontac sunfire pay $600 98 chev z71 $490
 karma1160
Joined: 6/10/2008
Msg: 36
Ridiculous car insurance rates
Posted: 1/11/2010 5:20:30 PM
I pay 1068.00 a year for collision where do you live? I own a crysler pacifica 2004.
Now my daughter is a new driver that is a different story she pays 1584.00 for liability it all depends on your record and how old you are.
We do not have health on this plan though, in MN you can get homeowners on your auto-insurance plan if you want to but it is not required. I have a different company for homeowners.
 SuperFunGuy
Joined: 8/3/2006
Msg: 37
Ridiculous car insurance rates
Posted: 1/11/2010 10:15:49 PM
I drive a sporty Acura, I pay almost 1400.00 a yr. Its not that bad. Sucks I'm at 48%. You'd think at least if you have had a near perfect driving record for the last 10yrs. , you'd get some kinda discount.
 FL CO
Joined: 12/23/2008
Msg: 38
view profile
History
Ridiculous car insurance rates
Posted: 1/12/2010 3:08:53 PM

I have a '92 sedan and only pay < $900/year. I have collision and PLPD (public liability/property damage). Mind you, I live in Canada. I'm aware of the vast discrepancies across the border and the gouging involved


$900 for a '92 sedan? Man you're right, we're paying too much here. I'm really getting taken. I pay a little under $1k for my '00 4wd Toyota (which hold their value very well). Thats for full coverage from one of the best, if not the best, car insurance company (at least in my state).
 coveredinpaint
Joined: 7/13/2009
Msg: 39
Ridiculous car insurance rates
Posted: 1/12/2010 3:24:48 PM
It's all such a scam. I was told for years rates would drop after I turned 25. At about 30, I recieved a letter from my insurance company that told me because I had bad credit they would have to INCREASE my premium. I've had no tickets or accidents either.

That's kind of like your cellphone provider telling you they are going to arbitrarily increase your rates because you have bad credit. How can they get away with it?!?
 mrnova66
Joined: 11/28/2009
Msg: 41
Ridiculous car insurance rates
Posted: 1/12/2010 5:36:59 PM
I can not complain about my insurance..I pay $710.oo a year on a 2001 ranger king cab..Full coverage....I also pay $190.00 a year on a 1971 CHEVY NOVA..It is covered for $20.000....I have not had a ticket since 1987...So all is good here...
 HoldingHands27
Joined: 12/16/2009
Msg: 42
Ridiculous car insurance rates
Posted: 1/12/2010 10:58:35 PM
Look at all the 'Sponsorships' that GEICO is involved in....
Add the 4-dozen or so (Irritating-as-Hell) commercials that they've produced...
to the # of Times Per Hour...
Times the # of channels (30/40/50) that those commercials air on...in a daily 12-hour prime-time day...
Times how much each airing of those commercials costs...
And wonder.....:
'Gee... Considering that the Advertising Budget comes from _Profits_.....
Are they an Insurance Company...Or an Ad Agency...!!!???'
 platypus_man
Joined: 8/29/2007
Msg: 43
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History
Ridiculous car insurance rates
Posted: 1/14/2010 4:21:31 AM
Insurance is a business like anything else; usually, supply and demand provides control of rates. But in some places, the insurance companies have been able to get legislation passed that makes it mandatory that you buy it; in all of those places, the cost of insurance has gone up. What a wonderful world; create a product, then get laws passed that make people buy it.
 FL CO
Joined: 12/23/2008
Msg: 45
view profile
History
Ridiculous car insurance rates
Posted: 1/14/2010 8:47:02 AM
^^^Age and location probably have a lot to do with it. Also depends on which Mustang it is. I'm paying about $900 for my '00 4wd Tacoma. I've had a couple tickets, one which was an at fault accident, but the last one was back in '05 IIRC. I've also had two totaled cars that the insurance company paid for. One the guy was clearly at fault, but had no DL and faulty insurance. The other none of the witnesses hung around and the officer couldn't determine who was at fault. My rates dropped when I turned 25 and I'm with good company. A good company may cost you a bit more, but it is worth it if you ever have to use them
 Natgoat
Joined: 3/24/2011
Msg: 47
Ridiculous car insurance rates
Posted: 8/28/2011 10:03:27 AM
'barbee...'...AIG sure advertises Now...!!
It's _Profiteering_...Plain and Simple...!!!
(Conditions that allow for exorbitant price-fixing)
My last research showed that GEICO spent over $800 Million on _Advertising_...!!!
Wouldn't their 'clients' be a bit upset that as much as Half of their Premium payment went into the 'Advertising Budget'...???
I can''t wait for the day when they all get together and file a Class-Action suit against them...
to the tune of about $5Billion...!!!
(Or...they could settle-out-of-court by refunding a years payment total
for every 2-years without a claim...retroactively!!!)
 vibrantshe
Joined: 3/21/2011
Msg: 48
Ridiculous car insurance rates
Posted: 8/28/2011 10:33:14 AM
Hi PittsburgVixen,
I am also an insurance agent and I couldn’t agree with you more. I can’t tell you how many of my clients practically cover their ears and hum when I try to explain their insurance to them.
 viper1j
Joined: 11/30/2005
Msg: 49
Ridiculous car insurance rates
Posted: 8/28/2011 3:07:45 PM
'99 Dodge Avenger with NOS 880 per year.


How many times _per hour_ do you see the same GEICO or Progressive or Allstate commercials on TV...?


I'm making gecko stew for dinner next Friday!
 RichenLosAngeles
Joined: 11/14/2010
Msg: 50
Ridiculous car insurance rates
Posted: 8/28/2011 5:50:29 PM
Message 66 ,,, Create a product and require that people buy it.
What a great idea.
We'll call it "Obamacare" !
 Jazzzy
Joined: 10/17/2006
Msg: 51
Ridiculous car insurance rates
Posted: 8/28/2011 5:52:57 PM
www.geico.com...I save a bundle with the cockney lizard.
 applecorps
Joined: 8/6/2011
Msg: 52
Ridiculous car insurance rates
Posted: 8/28/2011 8:00:34 PM
just stumbled across these forums,lol.
as long as you don't get any *serious* tickets,and buy a sports car that isn't on the radar of most police agencies,you'll be fine.you just need to shop around,or change your taste in automobiles
in addition to that,i just jumped ship from my previous insurance company(Nationwide--they were raping me w/ premium fees) and got an insane discount from another big insurer for being a new client and joining them
 Natgoat
Joined: 3/24/2011
Msg: 53
Ridiculous car insurance rates
Posted: 8/28/2011 11:35:38 PM
Congrats..!!
I always wondered how a Speeding Ticket boosted your premium rate...
It's not as if the Ins. Co. had to Pay-out something...!!
I _Still_ say that anyone going 2 years without a claim should get a Major reduction in
Premiums..!!
 PittsburghVixen
Joined: 6/27/2009
Msg: 54
Ridiculous car insurance rates
Posted: 8/29/2011 12:32:51 AM
There are also companies that offer "affinity" discounts based on groups you may belong to. For example, Liberty Mutual has a special discount for teachers, and AAA has an additional discount for AAA members.

Your moving violations and at-fault accidents are counted 3 to 5 years after they occur (depending upon the insurance company) so DRIVE SAFE!
 viper1j
Joined: 11/30/2005
Msg: 55
Ridiculous car insurance rates
Posted: 8/29/2011 5:34:00 AM

i just jumped ship from my previous insurance company(Nationwide--they were raping me w/ premium fees) and got an insane discount from another big insurer for being a new client and joining them.


I just jumped on board WITH Nationwide, and saved 300.00 a year, after my previous scumbags tripled my payments.
 applecorps
Joined: 8/6/2011
Msg: 56
Ridiculous car insurance rates
Posted: 8/29/2011 7:25:42 AM
one other thing occurred to me~sometimes insurance co. will jack your rates up if you own/drive a car that is on a 'Top-10 Stolen' list;Honda,Toyota,etc.
if you can find yourself a nice car that's off the beaten track ( and not on any stolen lists) ,you might save a few bucks,there.
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