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Old 01-19-2011, 12:31 PM
 
Location: The Greater Houston Metro Area
8,951 posts, read 14,093,599 times
Reputation: 14772

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Quote:
Originally Posted by tmc300 View Post
Regarding State Farm, their Home and Auto insurance quotes are higher than the other insurance companies. But the State Farm lady gave me a pretty good sales pitch. She told me that if my house is burned down, State Farm will just give me a check. Other company put a tarp over your house. What do you think?
She fibbed to you.
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Old 01-19-2011, 06:32 PM
 
Location: Texas State Fair
8,567 posts, read 9,333,391 times
Reputation: 4220
Quote:
Regarding State Farm, their Home and Auto insurance quotes are higher than the other insurance companies. But the State Farm lady gave me a pretty good sales pitch. She told me that if my house is burned down, State Farm will just give me a check. Other company put a tarp over your house. What do you think?
State Farm has more overhead costs. They have nice buildings. They have agents. They have office people. Everybody gets paid. Internet insurance companies don't have as many offices, as many agents, as many secretaries. >>> But they must all satisfy the same state regulations.

We had State Farm Auto and Home when I was a kid. I got my own State Farm policies when I started paying my own way. There weren't a lot of options then.

I switched to Geico a few years ago, rates cut in half. I've always had a high deductible, for lower rates.

Again, like life insurance or health insurance... it's insurance. Regard it as protection for your finances in the event of some catastrophe. Do you want to pay more every year and never need it? Or would you pay a bit less, relying on your own ability to provide for your costs?

And when it comes to insurance, really, the face of it is about sales.
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Old 01-19-2011, 07:17 PM
 
Location: Houston, TX (Oak Forest)
4,517 posts, read 11,316,715 times
Reputation: 3607
I recommend Liberty Mutual for home and car.
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Old 01-19-2011, 07:49 PM
 
Location: Texas State Fair
8,567 posts, read 9,333,391 times
Reputation: 4220
Quote:
Originally Posted by chris_ut View Post
I recommend Liberty Mutual for home and car.
Liberty Mutual is a good company. I did use them once for condo insurance. I did get a corporate discount from the company where I worked.
That my company offered that discount was enough recommendation for me.
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Old 01-20-2011, 07:51 AM
 
119 posts, read 424,303 times
Reputation: 32
I have checked with Liberty Mutual and Nationwide for home & auto. Nationwide's quote is a little bit less than Liberty Mutual, but not a significant difference. Currently, Liberty Mutual's quote for home and auto looks the best to me.
The State Farm lady is implying that if anything happens (like my house is burned down), State Farm will give me a check very quickly. Whereas other insurance company will not give you the check quickly and it will take you awhile to get your insurance claim. If you have a disaster, you want to get your insurance claim quick. That's the sales pitch. Do you think this is true?

Liberty Mutual's quote is much lower than State Farm. But if anything happens (like my house is burned down), will Liberty Mututal give me a check quickly? What do you think?
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Old 01-20-2011, 10:01 AM
 
Location: Houston, TX (Oak Forest)
4,517 posts, read 11,316,715 times
Reputation: 3607
Well my home has never burned down so I can't speak to that. Here is another way to look at it: If you pay an extra $200 a month for the next 50 years for your insurance then you are out $120,000 which is what your paying for the hope that you get a check a couple days faster on the less than 1% chance that your house burns down.
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Old 01-21-2011, 10:15 AM
 
Location: Texas State Fair
8,567 posts, read 9,333,391 times
Reputation: 4220
Quote:
Originally Posted by chris_ut View Post
Well my home has never burned down so I can't speak to that. Here is another way to look at it: If you pay an extra $200 a month for the next 50 years for your insurance then you are out $120,000 which is what your paying for the hope that you get a check a couple days faster on the less than 1% chance that your house burns down.
That's about the sum of it. Frankly*, I don't believe that State Farm will send a check any faster than any other reputable agency. And they really won't appear just because anyone can sing their name.

They must ALL satisfy the same state and/or mortgage requirements.

*That's not a challenge to your statement, just a personal belief.
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Old 01-21-2011, 10:07 PM
 
119 posts, read 424,303 times
Reputation: 32
Thanks for the advise. Looks like State Farm is out of the picture. I'll probably go with Liberty Mutual for home and auto.
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Old 01-25-2011, 03:23 PM
 
Location: NW Houston
1,150 posts, read 2,811,071 times
Reputation: 645
Quote:
Originally Posted by tmc300 View Post
I have checked with Liberty Mutual and Nationwide for home & auto. Nationwide's quote is a little bit less than Liberty Mutual, but not a significant difference. Currently, Liberty Mutual's quote for home and auto looks the best to me.
The State Farm lady is implying that if anything happens (like my house is burned down), State Farm will give me a check very quickly. Whereas other insurance company will not give you the check quickly and it will take you awhile to get your insurance claim. If you have a disaster, you want to get your insurance claim quick. That's the sales pitch. Do you think this is true?

Liberty Mutual's quote is much lower than State Farm. But if anything happens (like my house is burned down), will Liberty Mututal give me a check quickly? What do you think?
Google "State Farm class action" and you'll be flooded with results. You'll get results using any major insurer but the point is they are no different than anyone else.

The agent for any insurer will act like your best friend. They want to give you a warm and fuzzy and make you feel like they are on your side. Their job is to sell you insurance and make the company money by increasing revenue.

The claims adjuster for any insurer may or may not bother with acting friendly but they will most decidely be your adversary. Their job is to minimize your claim and make the company money by decreasing expenses.

It's a classic "good cop, bad cop" scenario but in reality they are on the same side. Remember who signs their paychecks.
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