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I renewed my insurance in December and it increased over 25%, but I didn't get one of those letters. I'm hoping this started happening before then and I hopefully don't have to expect another 25% increase next year?
Yeah that stinks not knowing. You could call your agent I guess. The state is seeing an increase of around 7-9% with the new rates approved by the commission. So that can happen without the letter.
Be sure to check your policy carefully for errors. My insurer had my square footage wrong and the replacement cost estimate was way too high. Correcting their error reduced my premium.
I find it slightly bazaar that you mention top ranked firms but then recommend an independent agent. Are you one?
Another good source for insurance review is the June issue of Consumer Reports. USAA and Amica do very well there too. Amica is doing extremely well considering their relatively low profile.
But neither use agents.
what's wrong with being an agent or recommending one? I am, and I can tell you that I would highly recommend an independent agent, as they can shop many carriers all at once. A State Farm agent can only sell you State Farm, a Nationwide agent can only sell you Nationwide, etc, so they don't have your best interests in mind. And they are issuing more consent to rate forms than any other carriers. And while Nationwide charges much more under their "Nationwide" name, they also own other carriers that they charge much less with, which are only offered through independent agents. It doesn't hurt to shop, an independent agent isn't going to charge you a dime to give you a quote and some information. And by the way, the majority of independent agents were prior captive agents, once they are experienced and successful, they usually jump ship.
Quote:
Originally Posted by frewroad
State Farm
I think people are getting nailed if they went down the "I need a new roof due to hail damage" scam.
Nope, those claims for the 2011 hail storm are considered "catastrophic", meaning they don't carry any surcharge points. What that means is the money has to come from somewhere, and since they can't surcharge those that had the claims, they have to raise ALL our rates.
That's not just for State Farm, that is all carriers.
Quote:
Originally Posted by Charlotteborn
Be sure to check your policy carefully for errors. My insurer had my square footage wrong and the replacement cost estimate was way too high. Correcting their error reduced my premium.
it is also helpful to request a new replacement cost estimation done. Replacement cost increases 3% every year, but that is only an across the board estimate. After a few years, it could be way off. You should have at least $110 per square foot, unless your home is real, real basic.
i've never made a claim and my rate is increasing 16% over the NCRB rate and Premium
Holy cow! Carrier? Did you compute your effective jump?
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what's wrong with being an agent or recommending one?
I was torn on whether to rep you for your second quote so I did. I didn't say there was anything wrong with it. Just without going through the entire list, the poster was pointing to the highest rated carriers which all use captive agents.
To say in effect, "go with USAA or Amica" because they are high on the list and then say shop independent when you can't buy either that way just struck the logic bell in me.
Nothing wrong with shopping around. I'm captive for 2 more years. I'll shop around then too or maybe it will take three since I just had the claim from bumping the mailbox which cost State Farm a whopping $800.
^^^ whoa, whoa, whoa! I know I'm a rookie on this site but I posted the link to JD power's scores. State Farm and Allstate were mentioned in the posts before mine and neither finished near the top. I never once mentioned Amica and gave credit to USAA for being great(but only available to military and their families). USAA and Amica aside, the next 10 or so companies on the list are all independent agency companies. As a matter of fact, Chubb scores as high as USAA or Amica.
Now that I cleared the air, I can get back to life as normal.
I can vouch for cc0789as an agent. I am a relatively savvy shopper and understand more than your average individual and she was able to secure me a much better quote than I could find on my own for both auto & home.
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