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Old 05-10-2013, 11:40 AM
 
686 posts, read 1,365,921 times
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I saved a bundle on my auto insurance when I went with Costco-Ameriprise and I have evaluated alternatives every year since (for about 11 years now) and no other insurer has been able to do better. Similarly, I save quite a bit on my home insurance. BTW, the savings already take in to account the annual Costco membership dues.

In general, premiums at Costco-Ameriprise are lower than at other insurers for the same coverage; or for the same premium, Costco-Ameriprise provides slightly higher coverage than competition. Also, Costco Executive members get free roadside assistance with auto insurance.

I think all frugal-minded people should compare their current auto and home insurance with Costco-Ameriprise's terms. Perhaps there are cases where Costco-Ameriprise is not a good value. I for one am eager to know the circumstances of such cases.
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Old 05-10-2013, 01:57 PM
 
Location: San Marcos, TX
2,572 posts, read 6,260,665 times
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In my case it was not a better value. I was considering a Costco membership for various reasons and got a quote to see if this would be another item to add to the "pro Costco" column. It wasn't. I decided to stay with my current company (and also decided the Costco membership isn't worth it for us at this time, overall). The quote was for the state required liability coverage, plus uninsured motorist coverage and roadside assistance and Costco/Ameriprise was $100 more on a six month policy over the company I am using now (Pronto) and for the past year, for the same coverage.

Matter of fact, when I received my quote via email I wrote the rep back to ask "Ok, what about with the Costco discount?" and she replied "That IS with the Costco discount.." and I couldn't say much besides "Wow." I was surprised it was that much higher. I was disappointed as well; I'd hoped it'd be enough of a savings to justify us going forward with the Costco membership but nope.

FWIW I drive a 1995 Honda and I have a stellar driving record. NO wrecks, no tickets, nada.
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Old 05-10-2013, 02:07 PM
 
Location: Keosauqua, Iowa
8,880 posts, read 15,634,204 times
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As a general rule, if you have a spotless driving record and pay your bill on time, every time you will very seldom find a better apples-to-apples deal when you shop around. It used to be pretty common for insurance companies to slowly jack up their rates hoping their customers would just accept it, but anymore the market is just too competitive so it's not too common these days.
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Old 05-10-2013, 08:40 PM
 
686 posts, read 1,365,921 times
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Quote:
Originally Posted by Sally_Sparrow View Post
...The quote was for the state required liability coverage, plus uninsured motorist coverage and roadside assistance and Costco/Ameriprise was $100 more on a six month policy over the company I am using now (Pronto) and for the past year, for the same coverage.
...
FWIW I drive a 1995 Honda and I have a stellar driving record. NO wrecks, no tickets, nada.
It seems like your kind of record is what Costco-Ameriprise likes to insure. So, I am surprised you got that quote. Good to know though.

BTW, what is the general opinion about your current insurer paying out an insurance claim and the effect of a claim on future premium (anything beyond what the insurance industry does)?
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Old 05-10-2013, 08:43 PM
 
686 posts, read 1,365,921 times
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I just learned about a promotion for California residents newly getting auto insurance from Coscto-Ameriprise: $100 Costco cash card if the insurer is an Executive Member. BTW $100 is the annual dues for Executive membership at Costco.
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Old 05-10-2013, 09:17 PM
 
Location: southwestern PA
20,426 posts, read 35,718,901 times
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LOVE Costco, but their insurance was not a bargain for us.
Glad it worked out for you!
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Old 05-11-2013, 05:53 AM
 
1,256 posts, read 3,326,937 times
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Quote:
Originally Posted by SMUR View Post
BTW $100 is the annual dues for Executive membership at Costco.
Minor nitpick - I believe the membership is higher than that now - $110? Something like that.

In other news - see a relevant thread I started over on the Frugal Living forum about changing insurance companies.

[lol! Just saw that THIS is the Frugal Living forum! That's what happens when one just clickety clicks down a standard reading-set of bookmarks without actually paying attention to which bookmark one is clicking on...]

Last edited by sullyguy; 05-11-2013 at 05:55 AM.. Reason: Added bracketed comment
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Old 05-11-2013, 09:45 AM
 
686 posts, read 1,365,921 times
Reputation: 423
Quote:
Originally Posted by sullyguy View Post
Minor nitpick - I believe the membership is higher than that now - $110? Something like that.

In other news - see a relevant thread I started over on the Frugal Living forum about changing insurance companies.
...
Indeed, the Costco Executive Membership costs $110. Thanks for the correction.

BTW, do you have a link to the thread you mentioned. I am unable to find it using Search, and I don't have visibility to your threads from your profile.
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Old 05-11-2013, 10:03 AM
 
Location: Talmadge, San Diego, CA
12,967 posts, read 24,013,555 times
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I had insurance with Ameriprise for a year, and it was nothing but problems. They spelled my last name wrong, and refused to correct it. Their customer service was terrible, and I could never get a straight answer out of them when I had a question.

I went to an insurance broker, and they got me a policy for less than half of the one that I had with Ameriprise. I have a perfect driving record, and carry full coverage on my car, but they objected to it.

I love Costco, but can't stand Ameriprise!
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Old 05-11-2013, 10:10 AM
 
686 posts, read 1,365,921 times
Reputation: 423
Quote:
Originally Posted by moved View Post
I had insurance with Ameriprise for a year, and it was nothing but problems. They spelled my last name wrong, and refused to correct it. Their customer service was terrible, and I could never get a straight answer out of them when I had a question.

I went to an insurance broker, and they got me a policy for less than half of the one that I had with Ameriprise. I have a perfect driving record, and carry full coverage on my car, but they objected to it.

I love Costco, but can't stand Ameriprise!
Wow. That sounds painful.

I have generally done insurance-comparison on my own all these days. I will try a broker next time.
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