My insurance is doubling this coming year. I got some recent quotes that are comparable to what I was originally paying, one of them being from Amica. Anyone familiar with this company? If I move my auto as well I will save about $400 a month.
Homeowners insurance
- Thread starter jesterondirt
- Start date
I'm in the insurance industry and have never heard of them but that doesn't mean they are not good. They might be new to Oklahoma or not have a strong presence here yet. I would look into their AM Best rating (their ability to pay claims and meet financial responsibilities) and their ratings from clients. Throw most 5* and 1* ratings out and read what the people say who rated it 2-4*. You should always look for new insurance every 2-3 years. Renewal discounts hardly ever end up being more than price increases taken during the year. It's a competitive market and what was cheapest one year will be one of the most expensive the next. Stay on top of your insurance and you will save thousands of dollars over the years. It's one of the biggest expenses people throw their money away on because they are not vigilant.
They have an A+ superior rating from AM Best which is one of the best financial ratings they give. I think A++ is the only one better. So as far as a company you dont have to worry about going under any time soon, then this is one.
Great advice. I probably need to switch right now. Do you have any advice about teenage drivers? I have a buddy that doesn't put his kids on his insurance because of the huge rate hike, and he treats them as just someone he gives permission to drive his car. Would the insurance company still provide the proper coverage if they get in a wreck?
If they are licensed drivers then it would be covered but most likely would end up being cancelled or Non-Renewed due to unreported driver. Kids in household are not "permissable use" drivers. They are full time drivers and should be rated as such. Oklahoma is unique in it's one of the states that allow excluded drivers on individual vehicles. So if the teenage son is not going to be driving his new 2022 Corvette. He can exclude that son off that vehicle and only rate him on the 1996 Toyota. This should save money and allow the son to drive without worrying if they would get cancelled. Now if the son was to drive the 2022 Corvette and get in a wreck the accident would most likely be declined. There are instances the company would still pay the liability portion but would definitely not pay the collision portion.
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Thanks. I tried to get Progressive to rate my daughter only on her car, and they wouldn't do it. I'll have to find a company that will do that.
I generally agree with shopping around insurance very few years. But I've been shocked for several years straight now how much less Progressive is for me than all other options for comparable coverage - for example, 30 - 40% less than the price of Amica and AAA insurance. I would encourage you to consider Progressive among your alternatives though of course there is no guarantee you would see the same outcome.
My agent emailed me an updated policy today that is really close to other estimates ive been getting. Im happy enough with them that if they got close without losing important areas of my policy, i would stay. I have a meeting with them tomorrow to compare what i would be giving up for the new rate.
Always get into the details. Agents will get you similar comps as far as price goes but the coverages can be vastly different. Also, always ask questions. Make sure you understand what all your coverages mean and why they are important. If you own a home it sounds nice on the pocket book to not have liability. Then some kid slips on a step and you are out $50k in bills. Liability is a must. There are some coverage you might be ok without but before declining make sure you completely understand what that coverage means. The job of an agent is really to educate the public on what they are selling. The nightmare scenario is to have a claim then it gets denied because you did not have the coverage and it wasn't explained to you. Ask all the questions. If the agent isn't willing to answer, then they are not the agent for you. I am an underwriter so I represent the company, the agent represents the insured. We carry the same license but represent a different part of the insurance world.
Online.
Not dissing agents btw. If you do not plan to deep dive to educate yourself and if you prioritize local claims service they provide valuable support.
It is just that I am very comfortable navigating these things myself. If so you can sometimes save a bit more shopping directly.
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