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454Barefoot
12-12-2006, 02:40 PM
I was wondering if anyone had any insight if any of the insurance companies were substantially less then others.

rspiecha
12-12-2006, 02:41 PM
I'm with State Farm. I didn't think $676 for a year was all that bad.

Rob

Jesus_Freak
12-12-2006, 02:44 PM
State Farm also. They are good if you have a good record and multiple vehicles, house, etc. Not sure how they compare for a single item.

bcampbe7
12-12-2006, 02:46 PM
Farm Bureau here... We have house, cars and boat with them.

They have always treated us great.

M-Funf
12-12-2006, 02:49 PM
I've got State Farm for:

3 Cars
2 Homes (one homeowners, one rental)
1 boat
1 personal articles
1 umbrella policy

The umbrella lowered my total premium some...

My experience with SF has been great service, and excellent response time.

Jesus_Freak
12-12-2006, 02:58 PM
...excellent response time.

In TN my local office was responsive, fair, and customer-focused the one time I had a major claim.

(Hey M-Funf...you may not want to advertise to the internet that you have an umbrella policy ;) )

M-Funf
12-12-2006, 03:00 PM
(Hey M-Funf...you may not want to advertise to the internet that you have an umbrella policy ;) )

8p

It's O.K. Everybody who comes to my house has to sign a waiver before setting foot inside...:rolleyes: Standard procedure, donchano...

Jesus_Freak
12-12-2006, 03:05 PM
It's O.K. Everybody who comes to my house has to sign a waiver before setting foot inside...:rolleyes: Standard procedure, donchano...

:D True, standard procedure, but it is not the people that you would let inside your home that you would have to worry about. :D

M-Funf
12-12-2006, 03:07 PM
:D True, standard procedure, but it is not the people that you would let inside your home that you would have to worry about. :D

For the others, there's Kimber :cool:

Mikey
12-12-2006, 03:12 PM
This might be a dumb question but what is an Umbrella Policy?

Jesus_Freak
12-12-2006, 03:17 PM
This might be a dumb question but what is an Umbrella Policy?

It tells the world you have deep pockets, and you aren't afraid to use 'em. :D

ttu
12-12-2006, 03:18 PM
shelter insurance for my housel, autos and boat. but i get a pretty good rate since i am my own agent8p

in re: to what is a personal umbrella? It usually comes as either a million or two million in personal liability coverage.

example, you are involved in a very bad accident that is your fault. a judgment comes back at 1,200,000 against you. you carry 250/500 liability on your auto, hence your umbrella would pick up the remaining 950,000.

hope that made sense.

TRBenj
12-12-2006, 04:34 PM
I'm with State Farm. I didn't think $676 for a year was all that bad.

Rob

Is that what you pay to insure your boat? If so, it seems pretty high to me. I went through Global this year (endorsed by USA Waterski, insuremyskiboat.com) and pay about half that. Includes 200/400 liability and a generous agreed-upon value. Also has decent values for for equipment loss, towing etc.

Monte
12-12-2006, 04:42 PM
Farm bureau for me, but I'm partial and vested.. Watch out for cheap. Inexpensive is another thing. There are some big time cos. out there that stink when it comes to actually paying your claim..

ttu
12-12-2006, 04:45 PM
Is that what you pay to insure your boat? If so, it seems pretty high to me. I went through Global this year (endorsed by USA Waterski, insuremyskiboat.com) and pay about half that. Includes 200/400 liability and a generous agreed-upon value. Also has decent values for for equipment loss, towing etc.


i looked at their rates also just out of curiosity but the problem that you can run into is those companies do not have any claims reps in your area and they usually have to hire a independant claims adjuster which a lot of times can lead to delay.

rstitson
12-12-2006, 05:30 PM
When we talked about deliver time for our new x-15 insurance cost came up. We were paying ~350 for a 15k boat and I thought the mastercraft would be twice that. Reseach on geico indicated in the upper 300's for the mastercraft. For our existing boat it was about 180... I think better rates are out there from reliable insurers less than 600.

JKTX21
12-12-2006, 05:44 PM
I pay 300/yr to insure a under 15K with fairly high coverage on my boat and trailer. In addition the insurance covers an agreed value in case of a total loss, rather than actual value (depreciation). I hate paying insurance.

ttu
12-12-2006, 06:36 PM
I pay 300/yr to insure a under 15K with fairly high coverage on my boat and trailer. In addition the insurance covers an agreed value in case of a total loss, rather than actual value (depreciation). I hate paying insurance.

easy there, how would i make money:)

however i hear what you said all day long. however when you do have a loss, your insurance company is there. this last summer i had a client who's son was "somewhat" involved in a fatality accident and trust me the attorney's (no offense eastie) are all lined up to represent the family of the deceased. I can tell you he is glad he has excellent insurance. Oh and this insured also has a personal umbrellla.

dmayer84
12-12-2006, 06:46 PM
What kind of coverage do you guys have? I pay $1300 a year for liability, uninsured\underinsured, medical payments, comprehensive, and collision. Do I have more coverage than I need?

Jeff Lyman
12-12-2006, 07:11 PM
I think ttu may agree with me. As a business owner that deals with many many insurance companies on a daily basis and sees the real dirt of a company. I would NEVER buy collision-comprehensive coverage without calling a body shop for cars or boats a boat repair facility. Ask simple questions whos the best to deal with in a timely fashion and whos pays for most need operations ( never do any pay for everything). Who pays for proper origonal equipment parts, etc etc. Most important ask the shop if they have any contract or deals with that particular insurance company if so take everything with a grain of salt.
Good luck !

atlfootr
12-12-2006, 07:58 PM
I was wondering if anyone had any insight if any of the insurance companies were substantially less then others.I'm paying 175 yearly, on my MC!

Leroy
12-12-2006, 08:07 PM
I pay ~$350/year with State Farm. I think it is for $37k replacement and I don't remember the other items. Seems like everytime we compare insurance companies most are 300-400.

PendO
12-12-2006, 08:13 PM
I have Progressive for my boat and for my folks boat ... thre price is good, but I also like being able to service the policy 24/7 ...

PendO
12-12-2006, 08:14 PM
What kind of coverage do you guys have? I pay $1300 a year for liability, uninsured\underinsured, medical payments, comprehensive, and collision. Do I have more coverage than I need?

well, you are 22, so you are probably getting bent for your age and the horsepower to length ratio

ttu
12-12-2006, 08:53 PM
What kind of coverage do you guys have? I pay $1300 a year for liability, uninsured\underinsured, medical payments, comprehensive, and collision. Do I have more coverage than I need?


Are you paying this just for the boat. Most insurance companies don't always charge premium on boats in re: to the age of the drive as much as the horsepower and value of the boat. Oh and yes now days your credit plays a "huge" role in determing your premium on Homes, Auto and yes Boats

This is why the speciality (inboard) insurance companies can offer a better rate than that of multi line coverage companies, because they understand that a 350 hp ski/wakeboard company usually cannot exceed 45 mph vs. the io's and so forth that can run 65+mph.

Now to really answer you insurance is designed to protect what you are trying to protect and that is your assets. ie, equity in your home, savings, stocks and bonds and so forth.. the more you make, the more you have the more exposure you have.

If anyone ever needs to ask me insurance questions, please feel free to pm me. I have been a adjuster and agent for over 16 years....

Workin' 4 Toys
12-13-2006, 07:59 AM
American Family Insurance

Mikey
12-13-2006, 08:14 AM
Oh and yes now days your credit plays a "huge" role in determing your premium on Homes, Auto and yes Boats

And why exactly is that? It doesnt bother me because I have good credit, but it just doesnt seem fair. For example what if someone doesnt have the best credit but has never been in an accident and never had a ticket, why should they have to pay more for insurance than someone who has had an accident or a ticket that has excellent credit.:confused: Im not trying to start a debate, Im just curious.

Workin' 4 Toys
12-13-2006, 08:25 AM
And why exactly is that? It doesnt bother me because I have good credit, but it just doesnt seem fair. For example what if someone doesnt have the best credit but has never been in an accident and never had a ticket, why should they have to pay more for insurance than someone who has had an accident or a ticket that has excellent credit.:confused: Im not trying to start a debate, Im just curious.
I believe the theory is, The same rates apply to each individual based on all the same factors...But if you have excellent credit, you get a "break"....If you have poor credit, you just pay the going rate...

Monte
12-13-2006, 08:59 AM
I believe the theory is, The same rates apply to each individual based on all the same factors...But if you have excellent credit, you get a "break"....If you have poor credit, you just pay the going rate...

You are correct W4T. Explaination: There is a direct relationship between someones credit and claims made.. For example on a homeowners. folks with good credit will fix a problem themselves if it is close to the ded. wheras someone with bad credit will let the problem grow until it becomes a major claim... (it is proven)...

I had one insured who had a $270 TV hit by lightning.. 250 ded we paid $20. Same guy gutters filled with water.. water froze.. Gutters got ripped off the house due to weight $290. 250ded we paid $40.
The same could be said for boats.. Someone has a (minor) gas leak lets say at the "o rings" cheap fix for the do it yourselfer. Finds out it will be $40 for a pro to fix it. guy lets the problem ride for lack of funds for just one run, and the whole boat burns.. hey it really happens...

ttu
12-13-2006, 09:15 AM
You are correct W4T. Explaination: There is a direct relationship between someones credit and claims made.. For example on a homeowners. folks with good credit will fix a problem themselves if it is close to the ded. wheras someone with bad credit will let the problem grow until it becomes a major claim... (it is proven)...

I had one insured who had a $270 TV hit by lightning.. 250 ded we paid $20. Same guy gutters filled with water.. water froze.. Gutters got ripped off the house due to weight $290. 250ded we paid $40.
The same could be said for boats.. Someone has a (minor) gas leak lets say at the "o rings" cheap fix for the do it yourselfer. Finds out it will be $40 for a pro to fix it. guy lets the problem ride for lack of funds for just one run, and the whole boat burns.. hey it really happens...

Monty, very good.

my only gripe i have is i have yet to see a hail storm come thru and just dump hail only on the homes whose owners have poor credit.:rolleyes:

School Skier
12-13-2006, 09:20 AM
We are with American Family. They are big in Wisconsin. Our 97 cost about $260.00 per year. We never had a claim with the boat but our house was damaged in a hail storm last summer I just got the final check last week they did us well.

Monte
12-13-2006, 09:26 AM
Monty, very good.

my only gripe i have is i have yet to see a hail storm come thru and just dump hail only on the homes whose owners have poor credit.:rolleyes:

Very true, but that turns into a cat claim.. Hey I can't say that holds true for every person with less than perfect credit, but a few bad apples... :( Its the nickel and dime stuff...

Workin' 4 Toys
12-13-2006, 09:27 AM
Insurance adjusters.....(This should probably get it's own thread but what the heck)
How about a woman that goes to get out of a car, and doesn't get the shifter all the way into park (and clicks back into reverse)....Goes to step out, the car backs up, and the car door hits her knocking her over. Then the car runs over her, proceeds to drive across the street with no driver, side swipes another car and a van bending the door backwards, then hits a house when it finally stops..... Write that one up.....

ttu
12-13-2006, 09:30 AM
Very true, but that turns into a cat claim.. Hey I can't say that holds true for every person with less than perfect credit, but a few bad apples... :( Its the nickel and dime stuff...

monty, i had one lady client about 5 years ago that had very poor credit and she turned in 4 water claims in one year to the tune of around 45K. needless to say she is no longer with me.

Monte
12-13-2006, 09:31 AM
Insurance adjusters.....(This should probably get it's own thread but what the heck)
How about a woman that goes to get out of a car, and doesn't get the shifter all the way into park (and clicks back into reverse)....Goes to step out, the car backs up, and the car door hits her knocking her over. Then the car runs over her, proceeds to drive across the street with no driver, side swipes another car and a van bending the door backwards, then hits a house when it finally stops..... Write that one up.....

At fault collision claim to fix her vehicle... the rest is liability, except for her injuries which would be Med Pay from her own policy and her own health insurance. She was at fault because she didn't put the vehicle into park.. (care custody and control)

Workin' 4 Toys
12-13-2006, 09:36 AM
At fault collision claim to fix her vehicle... the rest is liability, except for her injuries which would be Med Pay from her own policy and her own health insurance. She was at fault because she didn't put the vehicle into park.. (care custody and control)
It's a good thing it wasn't a manufacturer warranty issue on the shifter....;) That might have made for some interesting paper work...

ttu
12-13-2006, 09:37 AM
It's a good thing it wasn't a manufacturer warranty issue on the shifter....;) That might have made for some interesting paper work...

if so, attempt at subrogation.

Monte
12-13-2006, 09:53 AM
It's a good thing it wasn't a manufacturer warranty issue on the shifter....;) That might have made for some interesting paper work...

Oh, I thought you said SHE didn't get it into park...:rolleyes: Didn't know there was a warranty situation involved.. TTU is right ins co would pay on her behalf and "seek" subrogation..

Workin' 4 Toys
12-13-2006, 10:01 AM
Oh, I thought you said SHE didn't get it into park...:rolleyes: Didn't know there was a warranty situation involved.. TTU is right ins co would pay on her behalf and "seek" subrogation..
It wasn't me or my significant other, and it was awhile ago....So it's done, but it was interesting to see. I couldn't help but think at the time "what if"....

kjohnson
12-15-2006, 07:59 AM
Try Progressive through your agent. $198/yr for a PS 190.

bdecker
12-15-2006, 08:29 AM
If you ski in a slalom course, you might want to check if your policy excludes it. According to USAA who uses Progressive for boats, course skiing is excluded. I went through the USA Waterski program and pay about $350 for my 05. Can't find an umbrella that doesn't exclude the boat due to horsepower though. With regard to limits, it was less than a tank of gas $50 to go to the highest limit... In this sport, I think you'd be crazy not to carry the highest limit you can get...

Workin' 4 Toys
12-15-2006, 08:33 AM
I thought I heard Allstate is no longer taking new policies on east coast or "hurricane" states.....And even dropping some of its clients, I guess the "ALL" part may not apply in the near future.. :noface:

I don't know what is happening to that company but I dropped em like hot potato when I saw their earnings, among other issues.....OMG they "make" way too much money for being an insurance company. And for what........An increase in my policies every year..:steering:

Monte
12-15-2006, 09:00 AM
I thought I heard Allstate is no longer taking new policies on east coast or "hurricane" states.....And even dropping some of its clients, I guess the "ALL" part may not apply in the near future.. :noface:

I don't know what is happening to that company but I dropped em like hot potato when I saw their earnings, among other issues.....OMG they "make" way too much money for being an insurance company. And for what........An increase in my policies every year..:steering:

I've heard the same thing about several insurers, but that is mostly in Florida, and east of I-95. In allstates defense, they do pay their claims well, (there was a study done here in NC and they ranked #2) which of course is the main reason for having insurance. I don't like that they are leaving one state and parts of others, because it takes the competition and adds a burden to the other companies that remain. Insurance companies do make a profit, but it is relatively slim considering there is reinsurance to pay (ins cos have ins from other ins cos.. etc.. etc...) Then they must put money into reserves to pay for the whopper catastrophies, because one years worth of premium even ten cannot relieve the burden from a storm such as Katrina.. Several companies went insolvent due to that storm.. (Their reinsurance cos. paid their claim debt and absorbed the assets).
Now as far as premiums going up other than a minor increase for inflation every year I don't see why they'd be going up substantially unless they are recouping from a couple years of being in the red or an increase in their reinsurance premiums.
It is good for you to take a look at other companies every once in a while. My best advice there is to do a little research. W4T you probably know some body shop owners. ask them who the best and the worst are to deal with in your area for a simple fender bender. That can give you some idea of how it would be dealt with if say you had a total loss house fire....:cool:

SHROZA
12-15-2006, 07:17 PM
Try Ski Safe in New York state. I have my boat and two waverunners insured by them for about $900.00 per year.:)