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    Changing Insurance?

    Just looking for opinions on this since the whole thing might as well be in Latin as much as I understand it -

    I'm refinancing my house and in the process I've gotten a couple insurance quotes. Price range is pretty big - one is half what the other two are. I have put all the numbers in a spreadsheet and based on quote numbers nothing is missing. I talked to several reps and it basically comes down to one company low-ballling the quote. The other issue is service. I haven't had problems with my current insurance. The low-ball company seems to get mixed reviews on service (as do most companies - might not even matter) but otherwise it would save me close to $1000 a year. They have also been steadily increasing rates at a fairly high % every year. As I understand it they are new to this market and in order to get customers have started low and are gradually increasing up to a more typical rate.

    Is it worth switching over to save a few bucks?
    Revit for newbies - A starting point for RFO


    chad
    BEER: Better, Efficient, Elegant, Repeatable.

    #2
    Pretty much all insurance companies, whether it's car, home, or health, increase rates every year. It sounds like you'll sign up, then they will raise rates drastically within a few years. Couple that with not so stellar service, and I'd probably stay away from them. Although, like you said, people complain about everything. So, that may not be an issue.

    About every 5 years or so, I shop around insurance policies. I'm shopping around now for health and home. Whoever gets my home insurance also gets the cars, so that's a built in discount. If my current people are still in line, I'll stay with them. If they are way over, I'll try to talk them down. If that doesn't work, I'll go elsewhere. It's a bit trickier with health because of preexisting clauses, but pretty easy with home and auto.

    Plus, cheaper isn't always better. I usually go for the middle. I mean, if I got 3 plumbing bids for a new house ranging from 20K to 50K, the guy that bid 35 would probably get the job.
    Dan

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      #3
      Look at the lowest bid wins the contract... now when has the lowest bid ever been the cheapest? Lowest just means they have missed the most.
      -Alex Cunningham

      Comment


        #4
        Originally posted by Alex Cunningham View Post
        Look at the lowest bid wins the contract... now when has the lowest bid ever been the cheapest? Lowest just means they have missed the most.
        That was my line of thought. The quotes are all standardized and have items A through H which every company has and they are all the same items -
        i.e.
        A: Total Coverage
        B: Deductible
        C: PIP
        etc.

        The numbers for those categories are all there and are similar enough that the total premium difference is strange. I've talked to the rep from the low-ball and another company and they both confirmed that the bid is accurate, it's just crazy low.
        Revit for newbies - A starting point for RFO


        chad
        BEER: Better, Efficient, Elegant, Repeatable.

        Comment


          #5
          Originally posted by dzatto View Post
          Plus, cheaper isn't always better. I usually go for the middle. I mean, if I got 3 plumbing bids for a new house ranging from 20K to 50K, the guy that bid 35 would probably get the job.
          I've always maintained that the construction bidding process should be predicated upon this scenario. Get 5 bids, the one closest to the average gets the work. Think of the idiots that it would eliminate, on both ends of the process I might add.

          As to insurance, just take up golf. My home is with a Wed golf partner, cars are with a Fri golf partner. Good service goes without saying and rate wise, if I get an increase I demand a $100 Nausau with automatic 2 down presses and I get my money back. Health insurance is another issue. Pay a TON for it because I have AF and am self employed. Gah! now I need a drink!!
          I'm retired, if you don't like it, go around!

          Comment


            #6
            AF?? What the hell is that? Autocad Failure? :laugh:
            Dan

            Comment


              #7
              Originally posted by dzatto View Post
              AF?? What the hell is that? Autocad Failure? :laugh:
              atrial fib, I'm an old guy, remember
              I'm retired, if you don't like it, go around!

              Comment


                #8
                Never heard of it. Heart stuff? I think all the stress of golf is getting to you. Yeah, I'd hate to see your monthly insurance premium.
                Dan

                Comment


                  #9
                  Originally posted by Dave Jones View Post
                  As to insurance, just take up golf. My home is with a Wed golf partner, cars are with a Fri golf partner. Good service goes without saying and rate wise, if I get an increase I demand a $100 Nausau with automatic 2 down presses and I get my money back. Health insurance is another issue. Pay a TON for it because I have AF and am self employed. Gah! now I need a drink!!
                  I think he has already been drinking. did any of that make sense?
                  -Alex Cunningham

                  Comment


                    #10
                    Originally posted by Alex Cunningham View Post
                    I think he has already been drinking. did any of that make sense?
                    I think it means he purposely loses his golf games to get a nice price for his insurance... either that or his health insurance is about to pay off cause he had a stroke and can't type anymore (in which case someone should call a doctor...:laugh
                    Martijn de Riet
                    Professional Revit Consultant | Revit API Developer
                    MdR Advies
                    Planta1 Revit Online Consulting

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