insurance advice

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gregbesia

Feeling the Heat
Jan 26, 2009
360
central CT
Sorry if this belongs in another section, 3 years ago we purchased this place and at that time I got an insurance company called Amica. They were not the least expensive nor the most, but came with good reviews. I insured our house and 2 older cars with them. Last year they raised our premiums $70 and just yesterday I got renewal notice to the tune of $150 more per year than last. Majority of the increase is for the cars. Now , in our time with them we never had a claim (thank God). When I called them , they said that sorry but there is nothing they can do , that everything is getting more expensive for them too, and sorry but unless I increase my deductible , the price stays. Can we afford the $150 more? Yes, but im still upset. What should I do? Stay with them or go shopping? Tell me Your story and advice. Thanks very much.
 
shop around for other quotes. It doesn't cost you anything to get estimates. I switched to Allstate and saved alot when i was in a similiar situation.
 
I switched from Nationwide to Penn National 2 yrs. ago. Saved $800 a yr. on 3 cars and $300 on the house. This was including increasing the liability on both by 2 1/2 times and kept the collision deductable the same.

Home owners went up $40 over that time and the auto policy dropped about $25 so no real increase, and much better customer service, always get a real person by the third ring. (local agent office)

I dealt with Nationwide since 1982, my agent was very surprised at the terms and cost of the new policy. I did give them a chance to match or come close, they sent a handwritten letter a few days later saying if it doesn't work out they would take me back. Had no claims for at least 15 yrs, 1 non chargeable fender bender 2 yrs. before the switch.



http://www.pennnationalinsurance.com/portal/
 
Thanks guys. So far no luck, Allstate or Penn does not sell homeowners insurance in CT
 
I have had Pekin Insurance for many years. When I added the wood stove in the kitchen, they charged me $41 additional premium. So, I shopped around and even with the increase, could not beat them. I have always gotten good service from them. After my recent accident, they wrote checks for the coverage I had without question. So, you might give them a shot. I have been very happy with them over the years.
 
For sure look at the deductibles as there can be a good savings there. Seems that $1,000 or more on the house and $500 or more on the car are pretty common and now I'm seeing $1,000 on cars more common. I know of a party or two that have $5,000 on the home to lower the rates. Sadly though, insurance companies are like other businesses in that they have to raise their premiums to meet expenses.
 
Im not very happy with erie insurance in Pa. Had a claim with them and they pretty much go through everything to not pay. Its a long unpleasnt story. Stear clear.
 
The increase in homeowners has hit everyone, mainly due to katrina type disasters leaving insurance companies tight for cash.
 
I have a local agent out of Middletown who is great. They represent numerous companies so they were able to get me a very competitive rate. Every now and then I shop around on my own but I haven't beat it. I actually just got my renewal in the mail the other day and the rate went down this year, which was nice.
 
Nothing but good experiences with Erie Insurance in PA in 2 car claims in the last 2 years - my wife's car was trapped in a hailstorm that did $3350 in dings and dents to her car. Covered immediately and got the check right away, no hassle.

Second time was the 2nd day of ownership of a '99 sports car. On my 2nd day owning it, something flew around hte car in front of me and deeply gouged the front bumper. German car, so new bumper and a few other pieces come out to $1900. They wrote a check no problem.

I don't want to get into my entire situation, but I have a ~$400k house in a decent area, 3 cars and I have them covered for a combined total of over 53,000 miles driven a year, good coverage on the house and all cars. Erie charges me a total of about $2k a year in insurance for all of those....in the last 2 years, I've gotten about $5k from them due to the car things...
 
Have had Amica for years. House, two cars, umbrella and boat. Love their service! However, they wanted $1500 or so to insure a second home in NNY - Went with a local agent (Preferred Mutual) and got the policy for $625.
 
I dumped Amica when they raised me from 1400/year to finally $2400/year. That was from 2007 to 2011. Their answer was my house had appreciated so..... Dump! Went to All-state and saved almost $1200/year.

They raise your rate every year, and if you don't complain they raise it again. It isn't the claims that kill them, but the losses in the market that causes them to be so greedy.
 
AMICA is a direct writer. Go to your local insurance agency in your town/city and have them get muliple quotes for you from different carriers.
 
Thanks to all for good advice. Yesterday I went to a local broker, now Im waiting for quotes. See how that goes.
 
I've been with AMICA for a long time. Their cost has always seemed a little high. On the other hand I've always received a significant dividend at the end of the year, usually 15% or more.

Their customer service is the best but they'll drop you like a hot potato is you become a higher risk.
 
A number of years ago I decided to switch from my insurance company . . . cannot even remember who it was . . . I went through AAA and ended up with a home owners and automobile policy from Travelers . . . every so often I check around to see if I can do any better financially and every time it turns out the policy I have is a pretty decent deal . . . then again I think we've only had to contact them one time and it was the other driver's fault.

It may sound stupid, but one other thing I really like about this company is every time I call I either get a real, live person who speaks perfect English . . . and usually within a minute or so of making the call and punching in my policy number.
 
We have AMICA on 2 houses and 3 cars. The rates have one up just a little but not much. One thing I like about them is they are easy to work with. 2 months after we bought our home we had a terrible hail storm that totaled our roof, knocked out the skylights, and totaled the roof on the barn. AMICA didn't question the quote one bit and paid up right away. The customer service has been great also. That in itself is worth a little when you need it.
 
One thing I noticed when shopping around for insurance is they seem to check your credit before they provide a quote. Not sure if I like that. Might could look bad on the credit report. This doesn't really answer your question greg. Just sayin tho.
 
Decisions ,decisions. I met with a local insurance broker. He gave me a quote that is $350 a year less than my current one. The new company is called Tower Group. Any and all comments or opinions about this company will be greatly appreciated.
I am tempted to switch, but on the other hand if they are difficult to deal with........ Thanks
 
I have Tower Group (used to be OneBeacon) for both home and auto. They seem to only go through local insurance agents. I've never had a claim so can't comment on the company (my agent is great though).
 
ponyboync said:
One thing I noticed when shopping around for insurance is they seem to check your credit before they provide a quote. Not sure if I like that. Might could look bad on the credit report. This doesn't really answer your question greg. Just sayin tho.

Most companies do that unless illegal in the state.
 
gregbesia said:
Thanks guys. So far no luck, Allstate or Penn does not sell homeowners insurance in CT

From my experience it seems as though the insurance commissions in the eastern states are a little more conservative about the companies that they allow to sell in their states. I was involved with a local non profit recreational organization a number of years ago and we used a non-NY approved liability carrier. They would have paid any claims but no financial institution would accept their coverage on a loan.
 
gregbesia said:
Decisions ,decisions. I met with a local insurance broker. He gave me a quote that is $350 a year less than my current one. The new company is called Tower Group. Any and all comments or opinions about this company will be greatly appreciated.
I am tempted to switch, but on the other hand if they are difficult to deal with........ Thanks

When you go through a broker, you pay the insurer and the broker.
Check, The Hartford, through AARP (no you don't have to be an AARP member) and Foremost.
 
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