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Our primary residence was insured through Traveller's. Policy goes up for renewal at the end of October. Received a call from the broker that due to insurance carriers receiving approval for rate increases across NC and SC, most accounts were averaging a $150-200 hike, and this is without any claims.
The broker wanted to quote me additional policies, to see if that would help matters but I didn't even bother since this was my final account not with USAA. I moved it over to USAA (should have happened years ago) and immediately realized a $200/yr savings for identical coverage.
But I am curious if the above numbers as quoted by the broker are accurate. Are people really seeing an avg of $150-200 increase? Has this been your experience? If so, what did it prompt you to do?
It depends on the carrier and the county. Mecklenburg and State Farm saw an increase which hit me at 25% but an adjoining county did not see the increase. Since you said that was your last policy that wasn't USAA I wonder how much of what you are seeing in savings is multi-line. My rates went up $12 per month but USAA couldn't beat the multi-line discount.
I used State Farm for almost 10 years. Bought a new home, was quoting insurance, and Liberty Mutual quoted me 800 less than State Farm! So I switched.....there is apparently no customer loyality in the Insurance business...lol
Heck switch every 2-3 years. Make them all compete with each other and keep dropping rates.
I was pleasantly surprised at the savings I received two years ago when I left Allstate for The Kemper. Then I was disappointed when my new agent split with Kemper a year later. Now I am with Hartford and I'm still doing way better than I was with Allstate for home and auto. I left my motorcycle with them since it's a separate policy anyway.
Allstate was running these great commercials about paying you back if you have no claims each year. Not for me! My rates kept inching up instead (with no claims).
We come up for renewal this Fall. I plan to shop around again to see what the current deals are.
There was a major rate increase as of July 1st in NC (http://www.ncdoi.com/media/Documents...0Territory.pdf), so everyones rates will be going up. You should shop, however, because some carriers increased rates can still be lower than your current rates. There are also a lot of consent to rates going out (which means you are consenting the carrier charge you more than allowed by law cap), but you should definitely not agree to that before making sure that there is no other better option for you.
It depends on the carrier and the county. Mecklenburg and State Farm saw an increase which hit me at 25% but an adjoining county did not see the increase. Since you said that was your last policy that wasn't USAA I wonder how much of what you are seeing in savings is multi-line. My rates went up $12 per month but USAA couldn't beat the multi-line discount.
Had the same issue. We just got our annual premium (Meck. Co.) from State Farm and our premium jumped 28% with no claims or changes to the value of what was insured. I have a small discount for also having my car insured with them. In fact, SF has been my only insurance carrier ever (on my car since 1987 and renter's / homeowner's insurance throughout the years).
My wife has always had USAA on her car so we are actually waiting for them to get back to us on a quote for a comparable policy through them on our homeowner's insurance.
My wife has always had USAA on her car so we are actually waiting for them to get back to us on a quote for a comparable policy through them on our homeowner's insurance.
Cool. Keep us posted. I wonder how many competitors are timing things to get new business that will just raise them next year.
But I'd think if you combined your wife's autos with everything else it would give you a better deal. But that could be true with SF too.
Cool. Keep us posted. I wonder how many competitors are timing things to get new business that will just raise them next year.
But I'd think if you combined your wife's autos with everything else it would give you a better deal. But that could be true with SF too.
I believe having my car with my homeowners got me something like a 5% multi-ploicy discount.
What bothered me as much as the increase is that when I called my agent, he couldn't initially give me a rational explanation as to why this happened and he "had to look into it" - and after a couple of phone calls he still seemed unable to give me a complete and direct answer.
It was really foolish of me not to have this final policy with USAA anyway. In my experience, it's extremely difficult to compete with their rates. I have also been extremely satisfied with their customer service over the many years I have been a member.
I have a friend who is an Allstate agent who just a few days ago bragged it's rare they don't beat USAA. I am not so sure of that however, I have given her permission to compare policies for me. But I honestly don't see leaving USAA. Just not having to deal with an insurance company that nickels and dimes on every claim is worth its weight in gold.
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