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June 26th, 2011 at 6:47:50 PM permalink
On TV, all the major car insurance companies, Geico, Allstate, State Farm, Progressive, claim they are the cheapest and will beat all their competitors. They can't all be the cheapest, so somebody is lying. I've been with State Farm since 1965, I've never had another company. Last week I called Geico and Progressive just for fun, and they couldn't even come close to what I'm paying State Farm. It was a joke and I told them as much, to which they said nothing. Something is fishy here..
"It's not enough to succeed, your friends must fail." Gore Vidal
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June 26th, 2011 at 6:55:13 PM permalink
Did you know the four out of five dentists surveyed recommend sugarless gum for their patients who chew gum*?
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June 26th, 2011 at 7:44:53 PM permalink
Well, when is the last time someone said, "check our price, we are highest!"

Being serious, I'd wager most people they can save money are people with a few bumps on their driving record and credit. If you are a safe and stable driver, and the fact that you have been with the same company since 1965 makes me guess you are, your insurance company will give you a great quote. I have Geico after 20+ years with Liberty Mutual interrupetd by one year of a different place who would no longer write for me after I left employment there. Two glass claims in three months (freak accident) was all that was bad on my record for over 15 years. No at-fault claims since the 1980s. Virtually any major will give me a good price. Now, if I had a marginal claim that Progressive wanted to boost but Geico could overlook then they could save me money. As it is, over 30 and no accidents or points price will always be similar. Claim speed is my thing along with just good service. I doubt I could save $100 a year. You are probably in the same boat.
Tolerance is the virtue of believing in nothing
Joined: Jul 18, 2010
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June 26th, 2011 at 8:22:39 PM permalink
What ticks me off about SF is they have nothing in my file that says how long I've been with them. This is my 6th agent, the others died or retired, and they don't care that you've been with them for 45 years, just that you pay every month.
"It's not enough to succeed, your friends must fail." Gore Vidal
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June 27th, 2011 at 5:16:24 AM permalink
They certainly know how long you have been with them. Maybe, the agent does not, but it's not the agent who sets the price.
That is the reason you can't find a cheaper rate anywhere, insurance companies are really big on the "loyalty" thing - the longer you stay with them, the less likely you are to find a better deal, because of all those loyalty reward rates, or whatever they call it nowadays.

This is unlike, phone or cable companies for example, where you have to be a "new customer" to get a decent deal out of them. Now THIS I think is just stupid ...
"When two people always agree one of them is unnecessary"
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June 27th, 2011 at 8:23:52 AM permalink
The government allows some companies to make claims like that without problems. "Our toothpaste is the best!", "Tide makes your clothes the brightest!", "Big Red gum is the longest-lasting!"....anyone can make these claims because the government considers them all the same anyway. It's all subjective. Insurance companies can say the same because each client has individual needs and will qualify for certain discounts over other clients. so "we are the cheapest" will be true for enough customers that the ad claim is not overall a lie. Geico WILL be cheapest for some, Progressive WILL be cheapest for others. Still have to do your homework though.
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June 27th, 2011 at 8:27:24 AM permalink
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June 27th, 2011 at 9:17:24 AM permalink
My insurance company actually *lowered* my premium. I was shocked. I have been with them for a while. They are not one of the Big Four, but are a large regional. I use an independent agent.

By the way, how much are your premiums? I pay $87 a month, which I think is high, but I had a stretch where I got in a ton of accidents. (Since sold the car).
"Dice, verily, are armed with goads and driving-hooks, deceiving and tormenting, causing grievous woe." -Rig Veda 10.34.4
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June 27th, 2011 at 9:29:49 AM permalink
I pay $37 a month for everything but collision, it includes road service and I'm fully covered if I rent a car.
"It's not enough to succeed, your friends must fail." Gore Vidal
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June 27th, 2011 at 11:18:15 AM permalink
The insurance company adds I see are worded carefully:

"People who switched to (insert insurance co name here) saved an average of $465!"

Well, they could ALL be telling the truth! You called up a competitor and they quoted you a higher price, so you won't switch. You are not captured in the statistic.

If you called up a competitor, found a lower price and did switch, then you would be captured. You'd only switch if you save, and insurance cos could be trading clients, each of which is saving because of how premiums are calculated differently at different companies.

They don't need to lie, they just word their adds carefully.
Wisdom is the quality that keeps you out of situations where you would otherwise need it

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