Comments on: How I saved $1,400 per year with one call to the insurance company

By: Once Bitten

Once Bitten — Fri, 13 Jun 2008 00:48:47 +0000

Just a note on Allstate’s “accident forgiveness” – you can’t get it in California even though we see ads for it on TV. I’ve been accident and ticket-free with Allstate for 20 years. I have both auto and homeowner insurance and was enjoying a pretty good rate up until this year when I skidded in the rain and rear-ended someone at low speed. No damage to the other car, $6,500 to mine. As a result, Allstate raised my premium a whopping 56%. I’ve started checking with other companies and so far, haven’t yet found anything substantially cheaper. I’d been with USAA years ago but after checking with them, their rate is the same as the new one Allstate’s hit me with. My boyfriend suggested trying Mercury but I haven’t yet called them.

By: SavingDiva

SavingDiva — Wed, 04 Jun 2008 20:18:37 +0000

I will shop for car insurance in November when my current policy expires. I’ve gotten a few claims and they’ll be about $400/year less than what I’m currently paying.

By: Paula

Paula — Wed, 04 Jun 2008 06:10:00 +0000

USAA is an excellent company! Not only for insurance but also for banking. Paychecks are automatically deposited, a debit card gives you acces to cash at ANY ATM, USAA reimburses us for the ATM fee, up to $1.50 I believe. And if you use the debit card as a credit card at the store then you get cash back every month. We also have life and home insurance thru them. I’ve been a member for about 20 years now, my dad was retired Navy officer. You can go to USAA.com and find the membership requirements.

By: Clever Dude

Clever Dude — Wed, 04 Jun 2008 01:40:19 +0000

TLIP: I hear USAA has great rates. My 24-year-old coworker has them for his 2 cars (an older car and a new Chrysler Crossfire). He’s not 25 yet, nor married, but his premium is a little less than our new one with Erie!

By: Term Life Insurance PopStar

Term Life Insurance PopStar — Wed, 04 Jun 2008 01:38:10 +0000

That’s awesome that you got to save so much on your insurance. I’m with USAA and had an accident 2.5 years ago, and had two claims against me (one was about $4000 for damages, and the other was $15,000 for medical). I rear ended someone going about 20 mph, the car in front of me was sorta totalled, and the car in front of them had two older woman. There was no damage on their vehicle at all, but I’m pretty sure that’s where the medical claim came from (especially since one of them was complaining about medical issues at the site of the accident). Anyway, I was just going to say that USAA (which was the company I was with through my parents policy at the time) gave me great rates about a year ago when I bought my new car. I thought about going with a different company, but everyone else wanted to charge me a lot more. So I guess, besides Erie, there are also other companies that can offer good rates. The only downfall with USAA is that not everyone qualifies for coverage through them. I think you have to have served in the military or have immediate family that has.

By: Clever Dude

Clever Dude — Mon, 02 Jun 2008 15:13:13 +0000

@tom, good questions:

1) We’re keeping the Grand Am because it runs great. I admit it didn’t make sense to pay 1/3 or 1/4 of its total value per year to insure it (even at liability and comprehensive), but with gas prices increasing, I’m glad to have a reliable and efficient car to use instead of the truck.

2) Allstate would never have come close to Erie’s rate. I went with Erie because I know their agents are very friendly, and they stand by their service as evidenced by my friend and my in-laws histories. Per “Veteran Military Wife’s” comment above, Erie is A+ rated, so I’m very confident I’ll be happy with them.

By: tom

tom — Mon, 02 Jun 2008 15:07:28 +0000

Dude,

Couple questions…

1) Why not get rid of the old Grand Am, it may not cost much in insurance, but it’s still something.

2) Did you try getting a quote in writing from Erie and showing it to Allstate to see if they’ll match prices? Along those same lines, have you checked out http://insweb.com/? That’s a great resource for getting multiple quotes at one time.

By: Veteran Military Wife at Life Lessons of a Military Wife

Veteran Military Wife at Life Lessons of a Military Wife — Mon, 02 Jun 2008 14:37:44 +0000

Oh, and regarding who you pick as an insurance company, make sure they are A-rated, or at the worst B+…google that. It makes no sense to have a very low rate and then have an insurance company that will go broke at the first sign of trouble. Also google their customer service.

By: Veteran Military Wife at Life Lessons of a Military Wife

Veteran Military Wife at Life Lessons of a Military Wife — Mon, 02 Jun 2008 14:36:29 +0000

We just saved a bundle too…moving to Germany cuts our auto insurance in half, even though we are covered for something like 7 million Euro for liability (instead of the standard $300k in the States…wow). We also saved on our homeowner’s insurance. The home is a rental now, so no large personal contents insurance needed, but I got the My Safe Florida homes inspection offered free by the state and faxed that to my insurance company, shaving $200 off our bill. A lot of folks are under the impression that this inspection is just for people to try to get grant money from the state to hurricane-proof their home..not true, the inspection can see what proofing you already have (and didn’t know about) and pass that on to your insurance company to get some credits.

By: Clever Dude

Clever Dude — Mon, 02 Jun 2008 12:32:04 +0000

@Nick, that’s good to hear because I’ve always been satisfied with how Allstate has handled claims. I’ve also heard horror stories from friends (or online) and feared that I would chase a great rate only to be left in the cold when I needed the coverage. Honestly though, I hope I never need to use the insurance again!

@Rob, thanks for the correction. As for the renter’s insurance, I wasn’t aware of it until well past my college years and into my 4th rental here in D.C. (right after we got married). Granted, I think my wordly possessions probably cost about $5,000 to replace (mostly my computer and then my bedroom furniture), but I also wasn’t aware it covered wedding rings. We do have coverage on the engagement ring in case the diamond falls out and gets lost. That’s by far the most expensive part to replace, although the cost of the gold band would be much higher now that gold is ~$900-1100 an ounce.