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auto insurance oddity

powerboatr

powerboatr

Professional
our auto policies and house renews in oct, so just like previous 6 months, i call all the insurance companies to get quotes for all my STUFF
house, rv, 3 vehicles etc
i have been with farm bureau since oct of 2010 and so far no bodies beats them in cost, service etc
but yesterday a few go close in dollars
one thing that really stuck out to me was nationwide, it may be the agent or broker trying up sale or it could be fact, this added "coverage rider" was 100 bucks a term...
but i asked my agent when we saw him yesterday as well and he said no they do not do this particular practice

the issue is uninsured motorists or under-insured motorists that cause you an accident and damage your covered vehicle.
anyway nationwide told me if the above was to hit me and cause damage and that they , being nationwide had to absorb the entire cost of repairs, minus deductible because the un insured or under insured caused the damage, and that person could not pay or had no insurance to pay, that i would get a surcharge assessed to my policy for a percent of the damage cost to fix my vehicle. so i asked 2 more times for clarification
and was told if the un insured creamed me and i had to have my vehicle repaired that the nationwide folks would tack on a surcharge to me to collect some of the costs they spent to fix my vehicle if the un insured or under insured didnt pay to cover the cost back to nationwide

i responded in a question the 3rd time, are all the mafia or loan sharks...you know fluck you pay me
the agent insisted if i didnt have that rider, that i could be liable for the full surcharge and or cost to fix my vehicle if the above person caused my vehicle to be damaged.... HMMM we pay insurance to make us whole....not bend us over correct


like i said, my agent said farm bureau does not do this and he even stated that policy seems not above board
i put this out there to see if anyone has nationwide and a rider to protect you from costs if an un insured or under insured causes damage to your vehicle and nation wide cant recoup the cost of repair from that other driver
 
That's the insurance on your insurance rider. If you ever have to actually use the insurance then after that you will have to carry an insurance rider for your insurance rider. If you use it again you will have to, what? You got it pay an insurance rider for the insurance rider for your insurance rider...
 
trader said:
not sure about the details with your agent, but, It's been said that insurance companies are in the business to NOT pay claims. It's how all the big buildings in downtowns across america are banks or insurance cos
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my agent said farm bueara has no such practice to hit the covered me with a surcharge if they pay to fix my vehicle
this is true as so far as i had 2 incidents where people tried to remove my front end or rear fenders
each time farm bureau did 100% of what i expect
i took vehicle in, it was fixed, paid deductible and they went after the other person for resolution
end of story, i didnt have to speak to other persons insurance or anything..bing bam fixed and happy.

but this nationwide agent was quite adamant about we needed this rider to pay the surcharge if nationwide had to fix my vehicle and the other person could not pay....????
i had never heard this before so i had to put it out there to see if was a BS or true
 
Hi,

I'm quite the layman when it comes to insurance. It all seems like a shell game to me, it's a gamble, everyone's playing the odds. The insurance company is the "house" and they set the odds. I pay for the "uninsured motorist" as part of my premium.

Just a few years ago a drunk illegal alien plowed into my wife's car, parked in front of my house, while doing 100mph down my street. Her car was totaled. He went to jail. My insurance company wrote me a check for the full amount to purchase another used vehicle of the same year/make/model/mileage. It was more than a fair settlement. I doubt they were able to collect anything from the offender and my premiums never went up. They've actually gone way down since moving out of California.

I don't think I'm paying an additional "rider" as part of my "uninsured motorist" premiums. That seems like buying an insurance policy for your insurance policy. But leave it to insurance companies to find a way to mitigate their payouts and recoup costs. They are in business to make money. I wish they were in business to take better care of their customers. We live in such an imperfect world. But insurance can be very handy if and when you need it. Make the best deal you can. Hope for the best. Prepare for the worst. ;)

And that's my profound glimpse into the obvious for today. I'll hang up on myself now. :p


Thank you for your indulgence,

BassCliff
 
sadly, due to my neighborhood, and age of my house, i am "stuck" with one, and ONLY one choice of insurance companies...as a result, to reduce the overall cost of home owners, i also insure our autos with them.

i do save a little off all things insured, but i too would like to shop around...

for instance the AAA has GREAT pricing on home and auto......

however, "they claim" that if a fire truck cannot get around all 4 sides of my house..??

they cannot insure me.....like WTF,...that's what LADDERS and HOSES are for......"you carry them over your shoulders", i told the agent...

"sorry she said, it's "our policy"

another, said i must prove i have no lead paint, all new wiring, and no asbestos...

yeah, like imma gonna spend nearly $200,000 for all that.......(i have a 3 family house)

so...i am stuck with the one particular insurer.

so count your blessings, many of you have it easier than me.
 
BassCliff said:
Hi,

I'm quite the layman when it comes to insurance. It all seems like a shell game to me, it's a gamble, everyone's playing the odds. The insurance company is the "house" and they set the odds. I pay for the "uninsured motorist" as part of my premium.

Just a few years ago a drunk illegal alien plowed into my wife's car, parked in front of my house, while doing 100mph down my street. Her car was totaled. He went to jail. My insurance company wrote me a check for the full amount to purchase another used vehicle of the same year/make/model/mileage. It was more than a fair settlement. I doubt they were able to collect anything from the offender and my premiums never went up. They've actually gone way down since moving out of California.

I don't think I'm paying an additional "rider" as part of my "uninsured motorist" premiums. That seems like buying an insurance policy for your insurance policy. But leave it to insurance companies to find a way to mitigate their payouts and recoup costs. They are in business to make money. I wish they were in business to take better care of their customers. We live in such an imperfect world. But insurance can be very handy if and when you need it. Make the best deal you can. Hope for the best. Prepare for the worst. ;)

And that's my profound glimpse into the obvious for today. I'll hang up on myself now. :p


Thank you for your indulgence,

BassCliff
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one of my stories is similar though not nearly as expensive. Same kind of driver rammed into me at a red light. My insurance paid for everything after I signed off on an "exclusion recoup". the agent put it to me like this - we're not going after the driver as he was uninsured and had no license. We go after the vehicle owner for allowing this person to use their auto. They did and got everything they needed. My premiums didn't go up afterwards.
 
trader said:
one of my stories is similar though not nearly as expensive. Same kind of driver rammed into me at a red light. My insurance paid for everything after I signed off on an "exclusion recoup". the agent put it to me like this - we're not going after the driver as he was uninsured and had no license. We go after the vehicle owner for allowing this person to use their auto. They did and got everything they needed. My premiums didn't go up afterwards.
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there has to be accounting for responsibility..

it is sickening what so many try to get away with.

it is not a right to drive, it is a privilege

i think some confuse it with..

"a right of passage" when they turn the age to obtain the privilege of a license.
 
I have State Farm and have no idea what Nationwide does but if my insurance company did that I would find another. They have already raised rates and how much more do they expect we can afford to pay? I used to have USAA and they are a bunch of crooks! No claims, raising rates and can't or would not give you an explanation why. I know cars have gone up in price, and repairs are more expensive but give me a break. For some people that have never had an insurance claim prices need to adjusted and make the frequent flyers pay more.
 
NMEDGE said:
I have State Farm and have no idea what Nationwide does but if my insurance company did that I would find another. They have already raised rates and how much more do they expect we can afford to pay? I used to have USAA and they are a bunch of crooks! No claims, raising rates and can't or would not give you an explanation why. I know cars have gone up in price, and repairs are more expensive but give me a break. For some people that have never had an insurance claim prices need to adjusted and make the frequent flyers pay more.
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thing is, if other members have wrecks or other types of claims, that affects everyone's premiums.

the cash payouts are tremendous for repairs, injuries.
 
we always have coverage, maybe a bit to much on the house
but its replacement coverage, and all that
i cant complain about house insurance costs
but car insurance seems to be overly pricey
3 terms ago it stayed the same..at renewal
i just found it weird as we already have uninsured or under insured coverage as part of the policy coverage
and nationwide had same coverage, but what got me spurred was an additional fee to avoid a surcharge for the very insurance you are already paying for ??
anyhoooo
moral of the event
read, listen and understand what folks are trying to sell you

i will add a positive was state farm and nation wide had me on the phone for over an hour with each one, the agent broker was relaxed and no pressure, heck one guy was a former marine and we had a convo about service life for a few just like old buddies.. that made the whole event stress free
i know they are trained to do that and find common ground , but it was refreshing not to be listening to high pressure bull muffins
 
powerboatr said:
we always have coverage, maybe a bit to much on the house
but its replacement coverage, and all that
i cant complain about house insurance costs
but car insurance seems to be overly pricey
3 terms ago it stayed the same..at renewal
i just found it weird as we already have uninsured or under insured coverage as part of the policy coverage
and nationwide had same coverage, but what got me spurred was an additional fee to avoid a surcharge for the very insurance you are already paying for ??
anyhoooo
moral of the event
read, listen and understand what folks are trying to sell you

i will add a positive was state farm and nation wide had me on the phone for over an hour with each one, the agent broker was relaxed and no pressure, heck one guy was a former marine and we had a convo about service life for a few just like old buddies.. that made the whole event stress free
i know they are trained to do that and find common ground , but it was refreshing not to be listening to high pressure bull muffins
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maybe they have adopted the New Jersey system of surcharges??

@mikep (if i tagged the right guy) may be able to explain his states surcharges
 
Old_Me said:
maybe they have adopted the New Jersey system of surcharges??

@mikep (if i tagged the right guy) may be able to explain his states surcharges
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Our house and automotive are under a company called NJ Manufacturers. One can only get it if you work for a NJ company that has it as part of their insurance coverage. Once you have it you have it for life, if you want it, and people very rarely give it up because the coverage is thorough and less expensive than other carriers and you get a dividend check each year.
We don’t see any surcharges like you’re describing. I don’t have any experience with the big name insurers.
 
mikep said:
Our house and automotive are under a company called NJ Manufacturers. One can only get it if you work for a NJ company that has it as part of their insurance coverage. Once you have it you have it for life, if you want it, and people very rarely give it up because the coverage is thorough and less expensive than other carriers and you get a dividend check each year.
We don’t see any surcharges like you’re describing. I don’t have any experience with the big name insurers.
Click to expand...
that sounds like a great ticket to have (y)
 
Had nationwide my whole adult life paid off my home. Called them to lower my homeowners insurance from 250000. To 100000. Assuming to lower my rate majorly. Also furishing from 150000. To 70000.
She said i could not do this due to state law, and the size of my home. I asked if my home was a total loss tomorrow were they paying me 350000. $ NO THEY WERENT. I now have progressive an america mod.

Nationwide (not on my side)
Homeowners 1500 a year
1 tacoma 1 rav 1400. A year
Harley roadking 1200. A year
No claims or tickets in many many years
Progressive
Home, American mod 800. A year
1 tacoma 1 outback now 900. A year
Harley is sold now, but was only 500. A year

I now check every 2 years for better rates with other insurance

This is in southeast ohio not a high payout insurance area
 
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