Insurance, price vs. claims
03-03-2015, 10:52 PM
#1
Insurance, price vs. claims
Just switched to Geico after reading forum comments. Saved significant $$$, BUT; all the discussion has been on price, comparing American Casualty, State Farm, Geico, Erie, All State etc.
The question arises:
"Does anyone have any experience with a claim from any of these companies?"
Good? Bad? Easy? Hard? Run around? Customer service? Loaner? 'Your' choice of mechanic/shop or theirs?
Seems this would be valuable input to decision making.
The question arises:
"Does anyone have any experience with a claim from any of these companies?"
Good? Bad? Easy? Hard? Run around? Customer service? Loaner? 'Your' choice of mechanic/shop or theirs?
Seems this would be valuable input to decision making.
03-18-2015, 09:55 PM
#2
I have been told by several people that you learn to hate Geico come claim time. I have no personal experience.
Progressive is incredibly easy, was cheaper than anyone else I priced, has a great website where you can change your coverage daily, and are very easy to deal with for claims. They have always treated me fairly.
Progressive is incredibly easy, was cheaper than anyone else I priced, has a great website where you can change your coverage daily, and are very easy to deal with for claims. They have always treated me fairly.
03-18-2015, 11:48 PM
#3
I worked as an actuary at two major insurance companies for 7 years and I can say that claims experience is as random as a coin flip. Somebody could have 10 heads in a row but the odds are still 50/50.
That being said, State Farm is the only company with significantly higher retention than other companies (aside from USAA) and everybody else is is fairly similar. No way to tell if claims experience is the reason or if they just have deep discounts for long time customers but people stick with them moreso than other companies.
The person who adjusts your claim, the details of the specific claim, the complexity of the claim, the body shop, the channel (web vs agent), etc can all sway a claim one way or another and are more likely the culprit of bad claims experience than the insurance company itself.
That being said, State Farm is the only company with significantly higher retention than other companies (aside from USAA) and everybody else is is fairly similar. No way to tell if claims experience is the reason or if they just have deep discounts for long time customers but people stick with them moreso than other companies.
The person who adjusts your claim, the details of the specific claim, the complexity of the claim, the body shop, the channel (web vs agent), etc can all sway a claim one way or another and are more likely the culprit of bad claims experience than the insurance company itself.
03-19-2015, 06:46 PM
#4
Advanced
Just switched to Geico after reading forum comments. Saved significant $$$, BUT; all the discussion has been on price, comparing American Casualty, State Farm, Geico, Erie, All State etc.
The question arises:
"Does anyone have any experience with a claim from any of these companies?"
Good? Bad? Easy? Hard? Run around? Customer service? Loaner? 'Your' choice of mechanic/shop or theirs?
Seems this would be valuable input to decision making.
The question arises:
"Does anyone have any experience with a claim from any of these companies?"
Good? Bad? Easy? Hard? Run around? Customer service? Loaner? 'Your' choice of mechanic/shop or theirs?
Seems this would be valuable input to decision making.
We now have 21st Century, and I pay $376 every 6 on my 2015 Z, the wife's slightly higher due to her tickets on her '12 328i.
You will find State Farm is outrageous. Eliminate the middleman, buy insurance direct from someone. You won't be sorry.