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Old 06 Feb 2005, 09:25 am
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Default Good Car Insurance Companies?


Who do you buy your car insurance from?

Who's good? Who's cheap?
Who's good and cheap?

I've been with State Farm for serveral years, but am thinking that I might be able to save a few bucks, without loosing quality service if it is needed.


Any suggestions?

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Old 06 Feb 2005, 10:44 am
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I live in NJ and have New Jersey manufactures ins. Cheapest and most reliable for my needs
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Old 06 Feb 2005, 12:39 pm
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USAA
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Old 06 Feb 2005, 12:47 pm
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New Jersey is one of two states that, until recently, were very different from most other states in terms of regulation. One thing that sets New Jersey apart is the "must accept all comers" rule. While most states require insurance companies to accept a second tier of "previously refused" drivers, those are designated by a set of rules. Point here is that NJ is not a good reference point for other states.

Insurance rates are regulated, but the regulation is just one template that overlays rates charged. The other is "experience ratings". Each insurance company keeps statistics on all insured and revises rates on occassion according to how that group has fared in terms of claims. There are actuaries who are paid good money to sort through and make determinations on thousands of criteria, including obvious (driving record, M/F, age, marital status, various car factors like price and how often that vehicle is stolen, crashes, etc.) to the not so obvious (credit rating for example - this is oversimplified, but if an insurance companies' statistics show that people with lower credit ratings have gotten into more accidents than people with better credit ratings, they might adjust rates accordingly).

Bottom line is this - because each insurance company is using a different set of data points (their prior customer history), combined with other factors (regulatory for example), there is no "best insurance company".

You might do better with a useless overhead company like State Farm or Nationwide than you would with direct sellers like GEICO or Progressive IF your specific data points line up favorably. This is why different people will swear their (different) insurance company has the best rates - they're all right!
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Old 06 Feb 2005, 12:56 pm
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One thing I forgot to add - there was an article by one of the reputable firms that monitors customer service - not consumer reports but someone like them (anybody know the name - JD Power?) and GEICO came out on top with claims satisfaction, Allstate and State Farm were somewhere in the middle, and Progressive was near the bottom.

My own experience with GEICO was great - I had a minor front end accident last year and they were fine with paying to have a Xenon Crusher put on instead of the OEM. Plus, with my next insurance bill they did not raise my rates, citing an "accident forgiveness program" - I really don't know what that means, it might be because I didn't have any accidents in 15 years of being insured by them.

I recommend GEICO, but I also recommend shopping around.
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Old 06 Feb 2005, 08:43 pm
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Jeff, GEICO sure has changed. At one time they only wanted to insure people that never had an accident or ticket...and if you got one, say goodby to low premiums. Geico, also provides free radar and lazer equipment to dozens of Law Enforcement agencies.

I'm with Hartford which is thru AARP. They had the lowest that I could find. Just switched the Vette to a classic coverage and saved a coule hundred dolars, but I kept the other 2 cars with Harford.
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Old 06 Feb 2005, 11:08 pm
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I got Progressive and have had good luck with them.
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Old 07 Feb 2005, 02:18 am
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Quote:
quote:Originally posted by hoopdiewagon

USAA
If you qualify, USAA is the best company around! [8D] I have used them for over 35 years--outstanding service.
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Old 07 Feb 2005, 03:44 am
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19 years ago I was in a 10 mph fender bender where I tapped the guy in front of me. I was distracted and didn't stop in time, in heavy stop and go traffic.

State Farm offered to settle with the other guy for $30,000-, but he wanted more, and went to court.

The State Farm lawyer was good! Very Good! I still remember him saying to the jury: "Imagine you had to write the check." They did and awarded the guy about $700-

HAHA! If I ever need a traffic lawyer again, that's the kind of guy I want representing me.


-&gt; Good coverage can be more than just a good price.
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Old 07 Feb 2005, 12:47 pm
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geico!! awesome !!
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