Changing Insurance Company?

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Jeff Geist

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I just received my AllState quote for the year and the increase was only about $50 more than the last six months. However, after being with them for over two years (auto and homeowners), I decided to check around. I worked through an insurance agency that got me a quote from Peerless Insurance (A smaller company of Liberty Mutual). Anyone have any info on this company? I checked their website and will do a web search.



I paid about $2500 for home and auto last year. This quote with the same coverage would be about $1700. Sounds like a no-brainer but didn't want to be dealing with a company that can't process claims or whatever insurance nightmares that could occur.



FYI - This is coverage for my wife and me. I put about 17,000 miles on my 02 ST. My wife who stays at home with the kids puts about 7,000 miles on the 04 Mazda 3. No accidents or speeding tickets (that's because I stay out of the Mazda - it's a peppy little car).
 
I need to look at other carriers also. I pay Allstate over $3,200 a year for vehicle insurance. And that's with a $1000 deductible. Of course that's for 4 vehicles and a 16 year old male driver.
 
I used to be with USAA a couple of years ago and dropped them like a bad habit when they jacked up my rates for no reason and without any notification. I wasn't happy with them. It's been a couple of years and I'm going to see if they can get back to being competitive. If not...it looks like Peerless may be a good company to go with.



TomT - good luck with your research. I have a $500 deductible so your price sounds pretty high. I'm sure the 16 year driver is a big reason for that. When my kids are old enough to drive (I still have 14 years until that happens) they are paying for their own insurance. If you want to drive...it's going to cost them. Teach them some responsibilities.
 
Make sure you check the coverages and not just the numbers...

Some of the lower prices don't have the bells and whistles that god forbid you get into a serious crash your covered....

Just be carefull....

Todd Z
 
I use GEICO and my insurance has dropped steadily every year for the past 5 years. I have full coverage with leasing standard coverages (which are higher payouts and lower deductibles), Mechanical Breakdown Coverage (like an extended warranty for $60/year), and Roadside Assistance. This is just for the Trac in NYC, started at a little over $2000/year in 2001 and is now a little over $1600.



Oh, and they're great. No hassles.
 
Last edited by a moderator:
Last year I left Allstate after 7 years and no claims for Gieco. The reason, 8% to 10% annual hikes in my insurance rates each year. When those hikes started to be almost $100 for a 6 month policy, it started to get hard to swallow.



Gieco saved us almost $500/year, total, on two vehicles.



TJR
 
hef,

try USAA again. I just did some shopping around and for me they are the best out there. So far, I have only tried the big names, Geico, Statefarm, Allstate, Progressive and a couple others. Did not think of MetLife. Anyway, of all the quotes I got, none were within $1000 of USAA. I pay 2300 and some change right now for 04 ST with 500 ded', 04 Sonata 500 ded' 80 Vette and a 95 Taurus which my 18 year old girl drives.



I started shopping because I lost the good student discount, which I only found out when it went up and I called. Duh - she's not in high school anymore :blink:



grump
 
Grump -I checked out USAA and they are way too expensive. I was quoted double what I already pay through Allstate and triple what I would get through Peerless Insurance. Their home owners was competitive but no their auto. I checked Geico last summer and they could only beat Allstate by less than $100.



I guess it all depends on where you live.
 
Wow Hefhay, when I called USAA, they beat the tar out of GEICO, who had beat Allstate.



I pay about 1200 a year for 3 cars, my camper, and my renters insurance, BUT the boys are not on my policy-- they have their own. DD is about to get her license, so it will go back up, although like you, she will pay her share.
 
hefhay, are you a high risk? I have not found anyone close to USAA's rates in the past 9 years and I have lived overseas and in three different States during that time. They also won a JD Powers award for customer satisfaction in 2004 (I'm not sure about 2005).



Before them, I had American Family Insurance. They were very good back then, but their rates were not as good as USAA's. They were also top-rated with USAA by Consumers Reports.
 
Todd Z made a good point. Make sure your insurance company will go with you to court in your favor. I heard about Liberty back in the '80's. Not a single complaint back then AND they went to court for their people. Don't know about now.



Ed
 
hefhay, you should look into Erie Insurance. I have my home owners and both cars with them. I pay $1600 a year for the two cars, full coverage with a $500 deductable and for home owners I pay about $450.



usually they are competative with their quotes.



marc
 
Nelson - not even close to being a high risk. No accidents. No tickets or violations.



Marc - Checked out Erie and they are very high for my location. It's odd because two towns over from me and they're great. I'm actually in a better area than where they have cheaper rates. Go figure.
 

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