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Aircherokee

How I lowered my insurance premium

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I just wanted to share with other members about my recent call with Safeco Insurance.

Spoke with a very helpful rep who answered my questions regarding my premium increase over last year.  He was quoting a higher deductible to decrease my premium and when he matter of factly mentioned my RV's value, NADA industry rates shows my value as being $12,000 less than what my insurance coverage is at.  He stated that I'd have to have documentation proving the value for anything over what the industry rates show.

As a result, we modified my policy to match the industry value resulting in an annual premium savings of $247.80.

With the savings, I figure it'll buy  us a lot of "happy hour refreshments" that I can actually enjoy rather than paying unnecessary increased insurance premiums that won't taste as good. 

Just thought I'd share.

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We had Safeco for two years and then with no claims, tickets and for no reason, jumped our rates almost 30%.

It pays to shop about every 3 years.

Ken

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On 1/15/2019 at 10:24 AM, Aircherokee said:

I just wanted to share with other members about my recent call with Safeco Insurance.

Spoke with a very helpful rep who answered my questions regarding my premium increase over last year.  He was quoting a higher deductible to decrease my premium and when he matter of factly mentioned my RV's value, NADA industry rates shows my value as being $12,000 less than what my insurance coverage is at.  He stated that I'd have to have documentation proving the value for anything over what the industry rates show.

As a result, we modified my policy to match the industry value resulting in an annual premium savings of $247.80.

With the savings, I figure it'll buy  us a lot of "happy hour refreshments" that I can actually enjoy rather than paying unnecessary increased insurance premiums that won't taste as good. 

Just thought I'd share.

Interesting that they wanted proof to raise your value but continued to charge you for a value they knew was too high...:(

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I just signed into my  Safeco account. Low and behold the header says "Safeco Insurance, a Liberty Mutual Company".

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I had Progressive a couple of years ago, and after asking some pointed questions about rates rising as the coach got older, I was informed the company will not decrease the insured value, the owner must do that.  Bottom line was they were insuring it for more than it was worth and more than they would have paid out had been wrecked.

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On 4/17/2019 at 11:35 PM, manholt said:

They all have that habit...especially Progressive!  

Amen, mine went up 23% this year due to "last year's hurricane losses and increase in uninsured [illegal alien] motorists" here in Florida according to Progressive CSR.

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Must be a state-by-state thing. My Progressive premium stayed exactly the same, other than the extra $5 for the liability coverage I added for times we're using the motor home for living in.

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12 hours ago, Pmwiseman said:

Amen, mine went up 23% this year due to "last year's hurricane losses and increase in uninsured [illegal alien] motorists" here in Florida according to Progressive CSR.

Wow, have you tried to shop around? 

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I used to shop my insurance around by myself, and then one day discovered what a good insurance agent can accomplish. We've been with the same agency for many years now, and they handle all our policies - auto, home, and business. It was quite surprising how much better coverage our agent was able to get for us, and how much less things cost us compared to what I was able to do myself.

A good independent agent can shop your coverage to all the companies offering lines of insurance you need. They are familiar with the ins & outs of the underwriting process, and they are able to do things through their contacts that you and I would never be able to do.

The most important thing for us in using an independent agent, especially one like we use that has a HUGE client base, is their ability to go to bat for you when there are problems with a claim.

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On 5/18/2019 at 8:45 PM, Pmwiseman said:

Amen, mine went up 23% this year due to "last year's hurricane losses and increase in uninsured [illegal alien] motorists" here in Florida according to Progressive CSR.

I asked my agent about those reasons for across-the-board premium increases . She said usually smaller or under-capitalized companies do this to recoup losses in the affected states, but larger companies only increase premiums in those affected states.

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On 8/27/2019 at 4:15 PM, cptlou said:

Anyone happy with their insurance agent on the west coast of Florida- Sarasota County

 

Our home address is south of you (North Ft Myers) and we have been with National General (Good Sams) for several years.  Our new premium went down either $3.00 or $13.00 when it renewed this month (boss ain't here to give me exact figure).

We had a windshield claim last year which they paid 100% ($3,700).

I just got a call from them yesterday telling me a possible hurricane was on the way......duhhhh…., they wanted to make sure I was taking precautions.  I let them know we never venture into our home state during hurricane season.  I wish there was a discount offered for not being down there during the storm season, my rates would probably go down a lot.

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On 1/20/2019 at 4:42 PM, campcop said:

Interesting that they wanted proof to raise your value but continued to charge you for a value they knew was too high...:(

Any claim would be settled on an ACV basis (NADA value would be a good indicator) UNLESS you have an Agreed Amount valuation clause. Then value you speak of is only to determine premium not a claim valuation. Most of threads I see are filled with misinformation common to the public..

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