Why is it so hard???

[Cassiddie]

Why is it so hard when I wanted to cancel my last insurance and going to a new insurance?  My old insurance won't cancel my policies with the request from my new agent and they want me to fax them my new insurance info before cancelling.  I had to go through all that stuff.  It really pisses me off.  Thank god now that I'm with the new agent I that I don't have to go through things that difficult.  My old agent even asked me why I'm changing insurance company, well the simple answer is I found an agent who's willing to work for me and can save me about 30% on my auto premium with more coverages.  I got so mad and I even tell him that I need an agent who will return my phone calls and be there for me when I needed help plus cheaper premium.  

[DM]

There are a few things I go cheap on. Insurance is not one of them. Payless you get less and at a time when you may need more. JMO.

[Steve]

I pay my auto insurance premiums every 6 months, in April and October.  I have only switched carriers once in the last 20 years, but this is how I handled the switch.

About 1 month before my current policy was set to expire, I went shopping for cheaper rates.  I found cheaper rates at AAA Auto Club (American Commerce Ins. Co.) and switched from my old State Farm policy, but I made the change effective at midnight, on the date my old State Farm policy expired.  I did not have to bother with cancellations and refunds, just let the old insurance lapse and the new policy take over.  The change was seamless and with no hassle.

It seems with auto and homeowners insurance, that if you go for even a few hours without insurance, it throws you into a "high risk" category and bumps up your premiums.  From my experience, if you want to change carriers, just let your old policy play out and let the new policy kick in at the termination of the old one, to avoid even the smallest lapse in coverage. This can save $ and a multitide of hassle.

[sgrizzle]

They are mainly trying to avoid lapses in coverage which does drive your rates up and uninsured drivers almost outweigh insured ones in oklahoma.

More expensive is not necessarily better. I had a brand new $20k car and used to pay virtually the same amount for both the car payment and insurance. That company put another person's accident on my "CLU" report and refused to remove it. I pay higher rates because of the accident I never had. That was progressive. I also had allstate which tried to charge me about $200/mo for liability only on a 10yr old car with nothing on my record. The best part is they "forgot" to bill me for 6 months despite phone calls and visits to the office. The local agent said my rate was only going  to be $75/mo. One day, I finally got a bill, for almost $1500 for the 6 months that had past and the renewal for month 7. I also finally got my insurance verification cards at the same time. I have a coworker whose family has had two accidents, in both the company has refused to even pay the trade-in value for the totalled vehicles despite promises by the local agent that they would get full replacement.

More $$$ is not better.

[DM]

quote:Originally posted by sgrizzle

More $$$ is not better.

It depends on what you are spending the extra money for. Most any insurance company can give rock bottom premuims for basic liabilty and high deductibles. But if you pay more for better endorsements, more liability, and a $1000 deductible versus $2500 or higher deductibles then you will have better coverage and more of it.

Plus when you go with a cheaper company just remember that a lot of companies save money by using independent adjusters so they dont have a staff adjuster in smaller metro areas. Tulsa for example. So you are paying for worse service. Becuase these independents may not be as familiar with a certain endorsement or company policy that a staff adjuster would. On top of that they are not affected if you dont renew like a staff adjuster would. They get paid based on the contract with the company that is usually based on the amount of the claim and are usually never rated on service provided to the insured.

Keep this in mind too. If you go for basic coverage, which is usually about $10k liability you are risking a lot if you own a home. If you cause an accident with a moderate to serious injury that $10k will be gone quick. And just because the limit of your insurance is only $10k that does not mean that is all you will be on the hook for. Your insurance company can settle for higher then that amount and leave you to pay the left over.

So like I said, insurance is not something I go cheap on. Be sure to tell your agent or sales person your needs. What will help you sleep better at night?