Car Insurance

[mp170.6]

My car insurance rates (Mercury) have been increasing by 10% every six months.  This trend has continued for a few years now.

I found out these idiots have been bumping up my annual mileage with every policy renewal.  They never ask for odometer readings and I figured they stuck with the annual estimate I gave them a couple years back.  Completely on their own, they've decided I drive far more miles than I actually do.

When I called BS the other day, I was suddenly eligible for a $150 rebate, just for the current renewal period.  They won't refund several hundred more for past renewals, even though they admitted the mileage estimates were inflated.

Do other companies pull the same crap? 

[Tank]

we have AAA and have to give them our mileage every year. so, no.

[Catwhoshatinthehat]

I've had Mercury for years and never had this issue.  Once a year or less I send my broker the odometer readings using oil change receipts with mileage as backup which they use to calculate how much we're driving.  Do you have a broker or have you been dealing with Mercury directly?     

[Taylor]

Whenever my rates go up, I just go through a free online broker like zander.com to find a company that's willing to give me a lower premium. It's easy to switch.

Surprisingly, our premium through Progressive went down by like $20 a month in our last cycle.

[mp170.6]

41 minutes ago, Catwhoshatinthehat said:

I've had Mercury for years and never had this issue.  Once a year or less I send my broker the odometer readings using oil change receipts with mileage as backup which they use to calculate how much we're driving.  Do you have a broker or have you been dealing with Mercury directly?     

I have a broker.  Just this week, they enrolled me in a "special program" to give them odometer readings once or twice a year. 

Wonder why they wouldn't request odometer readings on a regular basis anyway? 

 

[Catwhoshatinthehat]

I know at one point my renewal assumed I was driving so many miles a year which was incorrect because I drive less than the average driver.  Contacted my broker, got them the support and got an updated renewal quote.  Maybe Lou can chime in as I believe he works or worked in insurance but perhaps they assume someone drives x miles a year unless they require an odometer reading.  

[mp170.6]

38 minutes ago, Catwhoshatinthehat said:

I know at one point my renewal assumed I was driving so many miles a year which was incorrect because I drive less than the average driver.  Contacted my broker, got them the support and got an updated renewal quote.  Maybe Lou can chime in as I believe he works or worked in insurance but perhaps they assume someone drives x miles a year unless they require an odometer reading.  

A couple years ago, when I gave my agent a lower AAA price, I think she manipulated some stuff (i.e. temporarily deflated) my annual mileage so the premium would be competitive.  Then, it ramped back up again with future renewals.

Good intentions at the time, I'm sure, but it came back to haunt me.

[AngelsLakersFan]

Im pretty sure car insurance is a scam

[Vegas Halo Fan]

20 hours ago, Bumpy Grimes said:

Whenever my rates go up, I just go through a free online broker like zander.com to find a company that's willing to give me a lower premium. It's easy to switch.

Surprisingly, our premium through Progressive went down by like $20 a month in our last cycle.

I was done with Progressive when I called them to ask about adding my stepdaughter (who was 22 at the time) to the policy. They planned to increase my rates by about half. When I told them that I would just buy her a separate policy, they said, too late, we have already added her. For while I went to The Hartford through AARP, but then I started getting regular rate increases of 10-15 percent per year, despite having the same vehicles, no change in usage, no claims and no moving violations. I went to Acuity, a company I found through NerdWallet, and I saved about $1,000 per year over The Hartford (which was supposedly a preferred rate) for the same coverage level and deductibles.

[mp170.6]

18 hours ago, AngelsLakersFan said:

Im pretty sure car insurance is a scam

I know a guy who sells insurance.  By his own admission, he is substantially overpaid for the work he does -- he makes well over $200K -- has a few BMW's, owns a 6 bedroom house, etc.  I think his college degree is in Biology or something unrelated.

Makes me wonder how much of our premiums go directly to the wages and benefits of insurance employees. 

[Vegas Halo Fan]

9 hours ago, mp170.6 said:

I know a guy who sells insurance.  By his own admission, he is substantially overpaid for the work he does -- he makes well over $200K -- has a few BMW's, owns a 6 bedroom house, etc.  I think his college degree is in Biology or something unrelated.

Makes me wonder how much of our premiums go directly to the wages and benefits of insurance employees. 

Insurance is a purely cash business. They produce nothing, and offer only the promise to pay when an allegedly covered event happens.

[ten ocho recon scout]

20 hours ago, mp170.6 said:

I know a guy who sells insurance.  By his own admission, he is substantially overpaid for the work he does -- he makes well over $200K -- has a few BMW's, owns a 6 bedroom house, etc.  I think his college degree is in Biology or something unrelated.

Makes me wonder how much of our premiums go directly to the wages and benefits of insurance employees. 

Had an old roommate and a buddy (current) who were in insurance. Long hours, a lot of stuff they dont get paid for.

But they also get paid really well, and some pretty amazing perks (like trips to hawaii). 

[Slegnaac]

On 5/31/2019 at 3:44 PM, mp170.6 said:

I have a broker.  Just this week, they enrolled me in a "special program" to give them odometer readings once or twice a year. 

Wonder why they wouldn't request odometer readings on a regular basis anyway? 

 

They do, it is just buried on the back of your renewal document.

[Brandon]

If you have a great driving record get Wawanesa out of San Diego and pay the lowest in the state.

[Taylor]

8 hours ago, Brandon said:

If you have a great driving record get Wawanesa out of San Diego and pay the lowest in the state.

Just did an auto quote on their website, and it's $30 less per month than what I'm currently paying.

Are they as good as any other car insurance company?

[Stradling]

2 hours ago, Taylor said:

Just did an auto quote on their website, and it's $30 less per month than what I'm currently paying.

Are they as good as any other car insurance company?

Yes. 

[Roy Hobbs]

20 hours ago, Brandon said:

If you have a great driving record get Wawanesa out of San Diego and pay the lowest in the state.

I just got a quote and it is $30 less a month too, thanks for the tip.

[Brandon]

12 hours ago, Taylor said:

Just did an auto quote on their website, and it's $30 less per month than what I'm currently paying.

Are they as good as any other car insurance company?

Yes. They only take top tier drivers, so their premiums are lower. I've only had one claim with them when I had an Audi randomly blow an engine. They took care of everything and did so quickly. I know they are the lowest I've ever found, but I was impressed with their service as well.

[Troll Daddy]

21 hours ago, Brandon said:

If you have a great driving record get Wawanesa out of San Diego and pay the lowest in the state.

My wife and I have excellent driving records. I got quote from Wawanesa and they beat AAA whom I’ve had for a long time. 

Although, I got a quote from Costco who annihilated Wawa on price and got more coverage to boot. 

[mp170.6]

47 minutes ago, Troll Daddy said:

My wife and I have excellent driving records. I got quote from Wawanesa and they beat AAA whom I’ve had for a long time. 

Although, I got a quote from Costco who annihilated Wawa on price and got more coverage to boot. 

I just got a quote from Costco.  $752 MORE per year than Mercury for the same coverage.  No thanks

LOL

[Troll Daddy]

8 minutes ago, mp170.6 said:

I just got a quote from Costco.  $752 MORE per year than Mercury for the same coverage.  No thanks

LOL

I’m a senior and the type of vehicle may play into it. I’m insured through Ameriprise Ins. through Costco. 

 

[Taylor]

Coscto has auto insurance?

[arch stanton]

I don't know why anyone eligible for USAA wouldn't use them

[ten ocho recon scout]

23 hours ago, mp170.6 said:

I just got a quote from Costco.  $752 MORE per year than Mercury for the same coverage.  No thanks

LOL

But its probably bulk insurance at least. Like youre covered for 20 cars. So its a lower cost per car. So you buy it, and 17 of your costco covered cars rot and expire in your pantry.

[ten ocho recon scout]

5 hours ago, arch stanton said:

I don't know why anyone eligible for USAA wouldn't use them

Im an idiot. Ive never used them for insurance or banking.

I know, i know...