Yellowboat
Well-Known Member
- Joined
- Dec 18, 2007
- Messages
- 16,110
- Reaction score
- 6,369
Just got a qoute from them... thier 6 month policy was only $43 less then my 1 year policy...
Just got a qoute from them... thier 6 month policy was only $43 less then my 1 year policy...
It doesn't matter which company you go with. They all play the same game. I went GEICO and had some killer rates. Then they started inching up year after year. Went up 200 a year in 5 years. Switched to AIG. More killer rates. But they, too began inching up every year. 150 bucks in 2 years. All of this with no claims, and decreasing vehicle value.
I'm now with Progressive, and my rates (3 cars and a MH) have actually dropped after the first year. My boat rate is about 1/2 of what it was originally with them 2 years ago. Lower than the GEICO rate 10 years ago.
They'll low ball you the first, then they'll start raising them. And of you call them on it, they'll give you a song and dance. Best thing to do is check other companies, and then call yours and let them try and beat their rate. If not, send them packing.
Not always the case.....
Insurance companies have to file rate changes with the department of insurance long before you see them.
Do insurance companies make profits....sure
Do they make as much as people assume....absolutely not
A good average loss ratio for a company is 50%. In bad years of fires or rainy driving it can be higher. Then you factor in commision paid to agents (15-18%) and cost of overhead (30%) and you see that there could be good and bad years. Whhen there are bad years or there is a segment where you are loosing money (car type,location,age,etc...) you need to adjust.
Farmers,Allstate, State Farm all had a terrible year(well more than 50% loss ratio) do to fires in CA and will be increasing there rates to account for that.
When rates are good the insurance companies are typically using the moneys taken in a and playing them in stock market. When the market sucks and intrest on money accts sucks they adjust rates accordingly.
Our company (Mercury) hasn't had a negative rate increase in a couple years.
With that said geico is know for fluctuating more than most.
The only ticket I have in the past 12 years,, I think maybe even 15 years is a 45 in a 35 in Parker.
It raised my AAA auto policy $300 for 4 years.
$1200!!!
In addition to the fine and fees which totaled around $200.
The only ticket I have in the past 12 years,, I think maybe even 15 years is a 45 in a 35 in Parker.
It raised my AAA auto policy $300 for 4 years.
$1200!!!
In addition to the fine and fees which totaled around $200.
I might pay a few hundred more a year with State Farm; but, they offer services that I feel are priceless: i.e. not ordering cheap replacement parts when you F-up your ride; and, being able to call your agent directly, none of this press one for english bullshit.
:beer
Shoulda opted for Traffic School.
Not available as far as we could find.
Cole, do you work for Mercury?
Yeah i got State Farm also and my dad gre up with our agent and hes REALLY into boating. So when it came time to insure my boat I told them I wasnt too sure if they would be able to do it cause I have a 200hp merc on an 18' boat and he said "Dont worry. Ill take care of it". And since he knew I grew up around boats he gave me the previous boaters discount. Pretty goos shit. 100% full coverage on my '01 Silverado Z71, '97 Saturn SC2, and my little 1985 18' outboard comes out to $110 a month! Not too bad I dont think
Ok so I this is gonna be my first post since joining. I found this to be interesting first I've had 21st for 12 years now. I am now 28 and I have shopped my ins to everyone to see what they will give me and not one ins company has come close. I have no accidents no tickets no points. I pay 550 every 6 mons for full coverage plus add't equipment coverage and uninsured motorist. my deductable is 500 bucks. I had my rear-end go out on my tahoe on a dirt road and they paid for the fix. They have been great to me! I Now have an 07 Durango and my rates havent changed. I had progressive for my boat its a 95 Commander with a 454 jet I was paying almost 600.00 a year with a 250 deductable. I just switched my insurance on my boat to foremost and I pay 285.00 a year with a 250 deductable
I might pay a few hundred more a year with State Farm; but, they offer services that I feel are priceless: i.e. not ordering cheap replacement parts when you F-up your ride; and, being able to call your agent directly, none of this press one for english bullshit.
:beer