Have You Used An Insurance Broker for Auto, Home, Etc.?

last year

We're paying over $5K in premiums every year for various kinds of insurance (auto, home, personal articles, etc.) and wondering if there's an easy way to get bids without contacting numerous insurance companies.

Would companies access our current coverage plans in order to compare apples and apples? (I suppose we have to give permission for that.)

This all came up due to our surprise in premium increase by adding collision to our auto policy following our fender bender. (Cost doubled.)

Sort by:Oldest

Comments (10)

bpath
last year
We use an independent agent. Every year he finds us the company with the best rates, and lets us know when companies’ rates will be rising due to everyone needing new siding or auto body work after a spate of hailstorms. We typically rotate among three insurers.
sushipup2
last year
Yes, we use a broker, and she has been great. One year, she came up with a new and cheaper auto insurance without us even asking her. Another time, I did my own shopping around to a large insurance company, USAA, and found that my auto insurance thru the broker for same coverage was WAY lower.
Related Discussions
What auto insurance company do you have and like?
Q
Comments (14)
We have USAA for both auto and home insurance. They have been fantastic. We've had to make claims for both auto and home and their service was quick and easy. During the "derecho" storm, we had a lot of damage due to a tree hitting the house as well as loss of power. They immediately deposited money into our account to cover the loss of food in our freezer (we didn't even ask them to, but when dh was going over the claim for the tree damage, they asked if we lost power too and said they'd cover the loss of food also). Our car insurance is incredibly reasonable - it did go up very slightly once but only after the SECOND fender bender dh had in less than a year. The increase was barely noticeable. In addition, we get a dividend check back from them at the end of the year. This year it was over $200 though it's usually around $125. $200 is about what we'd pay for two months' of premiums (on house and car together) so that was a nice surprise.
...See More
Wills,homes,life insurance,etc questions
Q
Comments (5)
Other things being equal, many of us prefer to get life, and possibly also disability insurance, related to paying a mortgage off on our own as a separate contract. The mortgage insurance's beneficiary is the bank, not the mortgage holder, who, though paying the premium, has no flexibility in case of need. The amount of coverage decreases over the years, as it covers only the portion of the mortgage remaining unpaid, while usually for a similar cost (sometimes lower), a mortgagee can get regular term life insurance for the full amount originally owing on the mortgage ... and it usually stays at that level throughout, if they so choose. Premium rate may increase at the end of the agreed term, if it is shorter than the years that the mortgage is to run. If premium rates are comparable, if the mortgagee dies the amount of benefit making up the difference between the original amount owing and the amount remaining owing at the time (which they would likely pay to the bank to retire the mortgage) would be really helpful to the survivors. It's wise to carry disability insurance, as well, as there's a far greater possibility of long-term disability (about 4 times) than of death during one's years of employment ... lacking employment income, how does one pay mortgage should s/he become disabled? Lacking a will ... no problem ... as long as the owner of the family's assets ... remains alive. Suppose someone were to come to your house tomorrow and, reading from a clipboard, ask you what your family owns, then say that this and that was to be done with each of the various pArts of it. As you listened, you'd likely object strongly, sputteringly saying, "But ... but ... we don't want our things and money to be dealt with that way!!". That person would just be telling you what your state's rules are, that would come into effect ... ... if the owner of the assets dies without a will!! So - get the will in place ... before you die. Can't do it after!! ole joyful P.S. Confession time. I'm close to 80 ... and I don't got one, either. Stupid. My kids'd get the stuff ... but they'd get a lot less, after all of those admin. costs. And they'd get the stuff later. And the charities'd get ... nothing! o j
...See More
Another auto insurance question.
Q
Comments (15)
I'm with State Farm. We get some breaks for having multiple thnigs insured by them: 3 cars, home, personal property, and an umbrella policy. I believe that if I shopped around I could find a little lower rate for some of these items, but at the expense of not having a local office and having to deal with 3rd party people in case of claims. We've dealt with our local insurance office for a number of years and have built a relationship with them. The agency recently passed from mother to son. Yes. it may be a little more expensive, but when you need to file a claim, it is very good to have help and guidance. Over a year ago, a driver ran a stop sign and t-boned my SUV. He hit it hard enough to roll it over. After the accident, everything went smoothly for me as my agent went after the other driver and his insurance. The settlement was fair, but before arbitration was settled with the opposing insurance, my insurance covered the cost right away. The arbitration process with the other company dragged out for a year. Over a lifetime of driving, I have had a couple of fender bender claims against a parties that had low cost, out of state insurance by mail, and that was a pain. For example, they wanted me to take time off my job to look up their independent claim adjuster, chase around and schedule meeting places. I felt that I could not take the time away from a critical project i was working on. After a few phone calls, I finally told them I will tell you where the car is parked and your guy can see it any time by contacting me. I am no longer going to do your job!. The claim adjuster came to my company's parking lot and examined the car. This one sample of what one might face with a fly-by-night operation. I had to become resistant else I would have been running all over town getting 3 estimates on my time. The fender did get repaired by a guy working out of his private garage at his residence and the paint job was less than spectacular, but acceptable for an every day driver. While it was being repaired, I had to use my other car - A loaner was not offered. Maybe a loaner was available, but again, one had to agitate to get it. In this case, it was not worth the hassle, but it led me to think about what it would have been like if that had been a major event with personal injury. Yes, standard insurance through a company's insurance agent and office may cost more, but in my opinion, the service provided by a local professional agent is worth it.
...See More
Earthquake Insurance broker in Washington State / Seattle area?
Q
Comments (6)
I live in the Greater Seattle Area and have the same situation as jalarse: USAA homeowners and American Modern for earthquake through USAA. If you are not a USAA member (you have to have a current or former military connection to be), you should still check with American Modern to see if they will give you a quote as they are an independent company from USAA: https://www.amig.com/
...See More
raee_gw zone 5b-6a Ohio
last year
Yes, I use an independent agent for home & auto. He saved me a bunch compared to Nationwide, and both his office, and the company he recommended, have been great with my 3 claims since (one hit & run to my new car, 1 tree falling on house & car).
nicole___
last year
I did my own leg work. I found American Family to be affordable. Liberty Mutual and Allstate have good rates. I hope you got uninsured motorist on your auto policy. I also have the highest med pay they offer.
chisue
Original Author
last year
Wow! Thanks, KT friends. bpath, if you use someone local, would you please send me a PM about your broker?

nicole -- Yes, State Farm told me we had to have uninsured and under-insured by state law (Illinois). That was relatively cheap, but adding collision doubled our cost.

DIL recently had a letter from Farmers, saying they had a 'special rate' for teachers. IDK, but that sounds like a marketing ploy to me.
Elmer J Fudd
last year
last modified: last year
I don't have high regard for customer-facing people in the insurance business and so I don't rely on them, whether it's independent agents or captive ones (like State Farm has). I don't distrust them, they just frequently seem to know less than they should. I believe the advice of independent agents can be swayed as much by which companies and policies pay better commissions as by what's best for a customer so I would never deal with one for personal insurance matters.

Anyway, like Nicole, I do my own leg work. It doesn't take much time or effort. With auto insurance, as an example, furnish the spec page of your existing policy for a quote. You can do the same with homeowners' insurance.

Talk to friends and neighbors for their experiences and recommendations pro and con.
bpath
last year
Chisue, I will. currently caught up in watching Thirteen Lives!
arcy_gw
last year
We have all ours under the same agent. Discounts for multiple policies.
Elmer J Fudd
last year
last modified: last year
"under the same agent. Discounts for multiple policies"

This is more typical with multiple policies with one insurance company, not agent. If you had, say 5 different policies, with 5 different insurance companies through an independent agent, I'm not sure how the agent would be able to grant you a discount. Maybe so but could you confirm that please?
laceyvail 6A, WV
last year
My father was an insurance agent and now my son is my agent.

Have You Used An Insurance Broker for Auto, Home, Etc.?

Comments (10)

bpath

sushipup2

Related Discussions

raee_gw zone 5b-6a Ohio

nicole___

chisue
Original Author

Elmer J Fudd

bpath

arcy_gw

Elmer J Fudd

laceyvail 6A, WV

COMPANY

BUSINESS SERVICES

GET HELP

CONNECT WITH US

Have You Used An Insurance Broker for Auto, Home, Etc.?

Comments (10)

Related Discussions

chisueOriginal Author

COMPANY

BUSINESS SERVICES

GET HELP

CONNECT WITH US

chisue
Original Author