Ratings/reviews of insurance companies

[wendibird22]

We've been with an insurance company for home and auto FOREVER. Both DH and I had policies with this agency since we got our licenses. After reading a blog post on David Ramsey about the value of using an independent insurance provider to see if you can save money, I contacted our local "David Ramsey approved" independent insurance carrier for a quote. They deal with the top 8 "A" rated insurance providers (my current agency is NOT one they work with). The quotes we received back would save us $700 a year on auto with better coverage and cost $20 more a year on home but with far greater coverage than our current policy. On face value it seems like a no brainer to switch to better coverage for far less money. But my hesitation is whether the new company will be a good provider. You hear horror stories of people who have to jump through hoops to get claims paid and things settled.

Anyone have experience in this area that can offer advice?

[lil_acorn]

What is the name of the new insurance company? That will probably get you more replies on whether they are reputable / good customer service.

[Philly Mom]

We've been with an insurance company for home and auto FOREVER. Both DH and I had policies with this agency since we got our licenses. After reading a blog post on David Ramsey about the value of using an independent insurance provider to see if you can save money, I contacted our local "David Ramsey approved" independent insurance carrier for a quote. They deal with the top 8 "A" rated insurance providers (my current agency is NOT one they work with). The quotes we received back would save us $700 a year on auto with better coverage and cost $20 more a year on home but with far greater coverage than our current policy. On face value it seems like a no brainer to switch to better coverage for far less money. But my hesitation is whether the new company will be a good provider. You hear horror stories of people who have to jump through hoops to get claims paid and things settled.

Anyone have experience in this area that can offer advice?

Who do you use now? My only concern would be whether who you use now would be more likely to cover things vs. new co being a pain to deal with.

[klwa]

We're with Amica for home & auto because of their consumer ratings. They run a little higher than some, but it's worth it to us in case there's an issue.

Here's Clark Howard's explanation of which insurance companies are the best: http://www.clarkhoward.com/news/clar...mpanies/nRJGz/ http://www.clarkhoward.com/news/clar...mpanies/nbckN/

[Katigre]

Who do you use now? My only concern would be whether who you use now would be more likely to cover things vs. new co being a pain to deal with.

Ditto this. That is a significant savings. There are ratings for insurance companies out there if you google it, then you can read about customer experiences. We switched from a 'big name' (State Farm, then Farmer's Insurance) to a lesser known company (Erie Insurance) that is highly rated and our premiums are quite low but they have handled claims VERY well. I really think it pays to investigate new rates every 3 years b/c otherwise you can end up paying a LOT more than necessary.

[wendibird22]

Currently with State Farm, the independent agency is recommending a switch to Hanover. Other companies in their package of 8 gave quotes but Hanover had the best overall package she said...price plus better coverage than we currently have.

[wendibird22]

I really think it pays to investigate new rates every 3 years b/c otherwise you can end up paying a LOT more than necessary.

And that's why I inquired with this independent agency. We've been with the same lady at State Farm for 10yrs and then I had a different agent with State Farm before I married DH. The independent agent thinks our home is underinsured by ~75,000. And other than DH being rear ended once with minor damage we've never had to file a claim. So we just take it for granted.

[Katigre]

And that's why I inquired with this independent agency. We've been with the same lady at State Farm for 10yrs and then I had a different agent with State Farm before I married DH. The independent agent thinks our home is underinsured by ~75,000. And other than DH being rear ended once with minor damage we've never had to file a claim. So we just take it for granted.

Oh goodness you're with state farm? They are crazy expensive in my state. I'd never use them without lots of rate checking BC they're good but plenty of other good companies don't charge an arm and a leg like they do! 0

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[Mikey0709]

Recently had a broker do a search for us and she saved us at least 40% from our bill by switching companies with better coverage. She also said nowadays you have to shop every 2 years for rates! Even have to shop the company your with - becuase sometimes they can lower it but ONLY if you ask.

Apparently most long-time loyalty is not advantageous anymore.... you hear good and bad from all companies.

Makes me think of a house I passed every morning on the way to work. After a bad storm they had 1/2 a new fence up - with the old one standing again it spraypainted... 25 years with State Farm and they would only pay for 1/2 a new fence. Gutess that one was NOT a good situation...

[ang79]

I've been with Nationwide (before I was married), then Allstate, Progressive, and now Geico. Every few years I look around for quotes. For the longest time noone was able to beat the auto rates we had w/ Progressive because we had long time loyalty rates with them. We moved to Geico about 1.5 years ago because the rates were better. We bundle our home owners insurance with a company affiliated w/ Geico. When we were w/ Progressive we had a small local company for home because Progressive didn't have home policies where we live. I always start with online quotes and then talk directly to agents on the phone when searching for the best deal.

FWIW, we've placed auto claims w/ Progressive (hail damage to cars) and Geico (husband wrecked his car in the snow). Both responded well and were very easy to deal with. Geico was especially fast, had the check to our lender within a few days (the car was totaled), and a check to us for the car and carseat replacements within 1.5 weeks.