Michael Hale
Active Member
Anyone by chance use the services provided by the listed businesses, and if so, are you pleased with the service? I notice that homeowners insurance is also offered.
Sam's Club/Costco Insurance
- Thread starter Michael Hale
- Start date
Help Support Ford SportTrac Forum:
Aaron Yarbough
Well-Known Member
I have never used them, but now that you mention it I think I will give them an opportunity to quote my auto and homeowners insurance.
Michael Hale
Active Member
That's kind of what I was thinking as well.
Don't just compare Home Owner's insurance on a price basis. There are many, many differences in insurance policies.
Most of the larger and more expensive companies are quoting policies with "Replacement Cost" vs the cheaper companies who are only insuring the home for it's market value. Depending upon your area, that may be a significant difference in money.
With "Replacement Cost" the insurance company will replace the item with a new item at the actual price. Other insurance policies will only pay for the value of the item at the time it was damaged or destroyed.
I have State Farm insurance with the Replacment Cost. It will pay the full price to have my 1976 home rebuilt and refurnished and pay today's cost.
About 8 years ago, my home's electrical system got hit by a lighning strike that destroyed all my phones, Satelite TV Receivers, VCR's, TV's, the oven, cooktop, garbage disposal, garage door opener, etc. It was over $8,000 in damage to many pieces of electronic equipment. I only paid my $250 deductable and got all new appliances and replaced all the VCR's and Satellite equipment with brand new units.
Cheaper policies that do not provide the "Replacement Cost" would have charged me a deductable and only paid for the depreciated value of the damaged appliances which would have been only about $500 if even that!
Also, some policies don't include or limit the money they will pay for the "Contents" of the home. That can be really subjective if your house burns down and everything went up in smoke, so it's wise to keep and inventory of all items of significant value, and get riders to cover the extra computers, electronics, jewelry that you may have.
About a year ago I switched to GEICO insurance since I am getting even more coverage than I got with State Farm and saving $400 per year on two vehicles. I can go online and apply, or make changes to my policy and don't have to pay an insurance agent's commission.
I am always looking for something similar in Home Owners insurance perhaps Sam's might be the place...I'll look into it. I hope their insurance company is not based in China..:lol:
...Rich
...Rich
Most of the larger and more expensive companies are quoting policies with "Replacement Cost" vs the cheaper companies who are only insuring the home for it's market value. Depending upon your area, that may be a significant difference in money.
With "Replacement Cost" the insurance company will replace the item with a new item at the actual price. Other insurance policies will only pay for the value of the item at the time it was damaged or destroyed.
I have State Farm insurance with the Replacment Cost. It will pay the full price to have my 1976 home rebuilt and refurnished and pay today's cost.
About 8 years ago, my home's electrical system got hit by a lighning strike that destroyed all my phones, Satelite TV Receivers, VCR's, TV's, the oven, cooktop, garbage disposal, garage door opener, etc. It was over $8,000 in damage to many pieces of electronic equipment. I only paid my $250 deductable and got all new appliances and replaced all the VCR's and Satellite equipment with brand new units.
Cheaper policies that do not provide the "Replacement Cost" would have charged me a deductable and only paid for the depreciated value of the damaged appliances which would have been only about $500 if even that!
Also, some policies don't include or limit the money they will pay for the "Contents" of the home. That can be really subjective if your house burns down and everything went up in smoke, so it's wise to keep and inventory of all items of significant value, and get riders to cover the extra computers, electronics, jewelry that you may have.
About a year ago I switched to GEICO insurance since I am getting even more coverage than I got with State Farm and saving $400 per year on two vehicles. I can go online and apply, or make changes to my policy and don't have to pay an insurance agent's commission.
I am always looking for something similar in Home Owners insurance perhaps Sam's might be the place...I'll look into it. I hope their insurance company is not based in China..:lol:
...Rich
...Rich
Last edited by a moderator:
Michael A 2
Active Member
I had Sam's Safeco insurance and they were very good to me until my last invoice which increase my premiums to an additional $250.00 after we figured at a "no Fault" accident so we went to 21st insurance (Free Roadside Assistance) 
Rick Kent
Well-Known Member
I would also suggest you check with your state insurance department for company rating.
Many low cost insurers have the highest customer complaint ratios.
There are only 2 ways to cut costs in insurance, lower your business expenses (salaries, supplies, rent and other expenses) or you can lower your indemnity expenses (claim payments).
Typically low costs insurers have tapped out ways to lower business expenses and have a reputation for being stingy on claim payments.
Don't forget that you find out the quality of your insurance once you have to make a claim not when you send in your premium payment.
Many low cost insurers have the highest customer complaint ratios.
There are only 2 ways to cut costs in insurance, lower your business expenses (salaries, supplies, rent and other expenses) or you can lower your indemnity expenses (claim payments).
Typically low costs insurers have tapped out ways to lower business expenses and have a reputation for being stingy on claim payments.
Don't forget that you find out the quality of your insurance once you have to make a claim not when you send in your premium payment.
Last edited by a moderator:
steve prebee
Member
We went with costco ins for car and home. Saved $500.
