T Nation

Just Saved on Insurance


#1

(Wall of text, a little math)

I just saved $150/month by switching insurance companies.

Background story: I started a policy in Feb. this year that covers my house and my truck(full coverage). The set price was $210/month and it covered both. That equates to $60 for the house, $150 for the truck. I didn't think this was an unreasonable price considering I'm 22 and a new homeowner.
In March my insurance company added $60/month because 'we didn't know you were 22.'

Apparently my personal information in my credit report didn't cover this. I let it slide.So Now my bill is at $270/month. Extra charge of $15 to set up auto-withdraw.

In April I was charged a late payment fee ($50)because they failed to set up my automatic withdraw. I figured I was partly to blame for not checking up on it in time. BTW, it took them until month 5 of my policy to finally set it up.
Somehow my bill is now at $290.00-$297.00/month depending on if the month has 30 or 31 days in it.

I called a different company today just to see what quote I could get. They told me $112 for my truck, and $44 for my house. Total cost of $156/month. Exact same limits. Lower deductibles.

I have a perfectly clean driving record(even took defensive driving). My house has concrete walls and a steel frame roof among other things.

Don't really have a question. More of a rant/celebration if you will.


#2

My car insurance went up this year over $200 which to some is not much, but that’s an increase of over 20%. I have full coverage, live in a town with low crime rates, and blah blah blah. I got a quote from Geico that came in $450 cheaper with higher limits and same deductibles. I’m happy


#3

Paste your 22 and own a house, do you really work for NASA or are you really 42? Honest question.


#4

I just think insurance is a rip-off in general. You are required to pay it, but may never use it. It’s basically a bad investment that you have to make. I know that when I need to use it, I’ll be glad that I have it.

Oh yeah, here’s a question.

Why do women have their rates decreased when they turn 21 but males at 25? I saw a girl using a blow dryer while texting last week during rush hour traffic. How it that considered less risky?


#5

This sounds like an ad for something like confused.com, lol.


#6

[quote]ucallthatbass wrote:
Paste your 22 and own a house, do you really work for NASA or are you really 42? Honest question.[/quote]

lol. I’m really 22. I built the house myself last year. It comes out way cheaper if you build it yourself BTW. I’m at work right now taking a break from doing thermal vaccum testing.


#7

[quote]RSGZ wrote:
This sounds like an ad for something like confused.com, lol.[/quote]

GEICO came to mind…haha


#8

[quote]aznt0rk wrote:
RSGZ wrote:
This sounds like an ad for something like confused.com, lol.

GEICO came to mind…haha[/quote]

lol Geico was more expensive for me than any others.


#9

[quote]Paste42 wrote:
(Wall of text, a little math)

I just saved $150/month by switching insurance companies.

Background story: I started a policy in Feb. this year that covers my house and my truck(full coverage). The set price was $210/month and it covered both. That equates to $60 for the house, $150 for the truck. I didn’t think this was an unreasonable price considering I’m 22 and a new homeowner.
In March my insurance company added $60/month because ‘we didn’t know you were 22.’

Apparently my personal information in my credit report didn’t cover this. I let it slide.So Now my bill is at $270/month. Extra charge of $15 to set up auto-withdraw.

In April I was charged a late payment fee ($50)because they failed to set up my automatic withdraw. I figured I was partly to blame for not checking up on it in time. BTW, it took them until month 5 of my policy to finally set it up.
Somehow my bill is now at $290.00-$297.00/month depending on if the month has 30 or 31 days in it.

I called a different company today just to see what quote I could get. They told me $112 for my truck, and $44 for my house. Total cost of $156/month. Exact same limits. Lower deductibles.

I have a perfectly clean driving record(even took defensive driving). My house has concrete walls and a steel frame roof among other things.

Don’t really have a question. More of a rant/celebration if you will. [/quote]

Sounds like they we’re taking you for a ride. You sign up at a reasonable price then put on all these extra charges bet they try it on everyone.


#10

[quote]The1andOnly wrote:
Paste42 wrote:

Sounds like they we’re taking you for a ride. You sign up at a reasonable price then put on all these extra charges bet they try it on everyone.
[/quote]

Then they’re making a lot of money off of some frustrated people


#11

[quote]Paste42 wrote:

Why do women have their rates decreased when they turn 21 but males at 25? I saw a girl using a blow dryer while texting last week during rush hour traffic. How it that considered less risky?[/quote]

My rates never decreased more than $20-30 a year, that was probably just because my car was a year older. My rates increased when I turned 26. Massachusetts increases taxes and changes insurance rules every year forcing companies to increase rates.

Insurance and Massachusetts are the 2 biggest scams in America.