Comments on: Save Money On Auto and Homeowners Insurance with Premium Comparison Surveys

By: Anna Heaslet

Anna Heaslet — Mon, 02 May 2011 01:37:22 +0000

Wawanesa is able to offer discounted rates because they avoid paying claims by any means possible. I have been given partial denial for repairs on my vehicle that are the result of indirect damage from a car accident on 3/29/11. The damaged part on my car is the engine control module, which in Mitsubishis, is not a part that usually ever has to be replaced. I have spoken to all 12 Southern california Mitsubishi dealerships from San Diego all the way up to Long Beach, and not one had sold one of these parts in more than two years, if ever. They also all say that this is a very reliable part in an eclipse, but that the violent jolt of the impact can cause serious damage in computer parts like these, and that there is no way that the damage was a coincidence. The adjuster is saying that it is a coincidence that the control module was damaged at the time of the accident, and that it was just mechanical failure. He actually told me on the phone that, “we shouldn’t have to pay for that, its expensive!” It took me 25 days from the first and last time that I spoke to my first adjuster John Hearst to get ahold of anyone at Wawanesa regarding my claim, no one would even return my messages. My car has been sitting in the shop in pieces for 20 days.. in pieces just sitting there. It took 13 days of the car sitting in pieces to even get the first partial denial. The manager of the collision center that my car is at has taken over handling my claim on their end, and completely backs me up. The adjuster says that he is denying this repair “based on my opinion, and my opinion is final unless you decide to take it to the next level.” Well, I am a licensed insurance agent working for Farmers Insurance, and I know my rights, and have proceeded to take this matter to the next level because this has definitely reached bad faith claim status. All that I asked was to be treated fairly and have my car restored to the same condition it was before the accident, which is my right as stated in my Wawanesa Policy. Neither has happened with this company, and I am very sorry I hadn’t switched to Farmers before this accident, because none of this would be happening right now.

By: Shaun

Shaun — Mon, 07 Jun 2010 00:05:11 +0000

@serbeer

Excellent list! I have collected a bunch myself. I actually have compiled a list of a bunch of insurance agencies across the country. I believe I have nearly 2000 agencies right now.

You’re welcomed to add any on my list to your database if you wish, they’re located here:
http://www.insurance-comparisons.net/insurance-agencies/

Have a great day,
Shaun

By: Nish Balaji

Nish Balaji — Fri, 10 Jul 2009 00:00:44 +0000

Thanks for the Insurance premium comparison link. I don’t have home insurance for my condo, since the structure is covered by HOA fees, but I have been thinking about getting an additional plan. I will definitely use this comparison for my condo insurance. I am happy that the Insurance Industry is tightly regulated by the state and the companies have to publish their premiums to the regulator.

BTW, I already use Wawanesa for Auto Insurance in California and they have been great and incredibly cheap. My understanding is that they keep their premiums low by being very selective about the drivers they cover. So if you are a good driver, Wawanesa will definitely save you a lot of money.

By: Samples

Samples — Thu, 09 Jul 2009 14:21:41 +0000

Great post and thanks for doing the leg work. I emailed my Florida Commissioner about some improvements they can make to the site to make it more informative. Hopefully they listen.

By: serbeer

serbeer — Tue, 07 Jul 2009 16:35:35 +0000

Great idea TBF, but as you discovered, there is no such thing for IL.

When I was about to go through my bi-annual insurance re-pricing process last year, I built a nearly complete list of 70 insurance companies that offer home AND auto policies in IL based on list in http://insurance.freeadvice.com/reviews/state/home/Illinois/
in Excel, and used additional 3 sites
http://www.ambest.com/
http://www.jdpower.com/insurance
http://www.badfaithinsurance.org/indexdetaillist.html
for research to narrow it down to ~30 that I could consider getting quotes from and then further to 7 that were my first pick based on ratings and reviews. I got quotes from all 7 and picked the cheapest one (which also happened to be rated #1 of all I considered, luckily).

Only companies with AMBest rating of A and higher were considered. And no companies with predominantly bad customer reviews (I did keep a version of survivorship bias in mind though while judging it).

One thing to understand, you don’t want want to have to go to court to enforce the contract if there is serious claim. So one should not simply find the cheapest company–both financial strength AND history of paying claims should be considered before making decision. This is even more important if one shops for umbrella insurance in addition to the two you’ve been discussing.

By: Massey

Massey — Tue, 07 Jul 2009 16:32:48 +0000

Incredible research. This is value added material that can help people save money without sacrificing service. Well done.

By: Bill L

Bill L — Tue, 07 Jul 2009 16:23:17 +0000

I was inspired by your post to hunt down the rate guides for my home state of Maryland. The most recent one (currently Feb-2009) can be found on these pages: Home Auto Thanks for the great suggestion...

By: dawn

dawn — Mon, 06 Jul 2009 19:35:45 +0000

Thanks for this reminder. I never think to shop around until i get the insurance renewal form in the mail, and by that time, i don’t feel i have enough time to shop around, so i usually end up renewing for another year.

My homeowners insurance is way too high, in my opinion, so that’s what i hope to tackle this weekend.

thanks again.

By: Geoff

Geoff — Mon, 06 Jul 2009 16:32:04 +0000

Thanks TFB!

I need renew my auto insurance at the end of the month, so this will be a perfect time to shop around. I’ll report back on my discount percentage.