pickleseimer

This discussion reminds me of an insurance thread from a little over a year ago. I posted the following in that thread and my opinion hasn't changed much. I still remember the conversation (below) with the independent agent (also a friend) that insures the hangars I keep the toys in and it makes me laugh to this day - so true! The insurance companies have a license to abuse you and can get away with it as you must have it to drive, by law.
-------- This was posted back in 2017 ------------------------------------------------------
I've concluded insurance has degenerated nearly into what most reasonable people would call a scam. Even the agent who covers my hangars says so - his last call me to contained a succinct description of the whole process - tongue-in-cheek - but it was close to how it actually seems to me. Something along the lines of you pay ever increasing premiums, we (insurance comp) tell you what we won't cover (just about everything), reduce your coverage as the years go by, hide the exceptions and exclusions until you want to make a claim, look for creative ways to not pay a claim, and if we can't wiggle out of it, first investigate you for fraud and if we can't prove that, low-ball your settlement until you sue us and our army of lawyers will just wear you out or scare you out. If you are one of those people who never have had a reason to file a claim, you've pissed away a ton of premium dollars and gotten no value out of it, but don't be a minute late paying your premium which is due one week before your current policy expires. And this was the agent talking. I nearly fell out of my chair laughing on that call.

Anyway, over the years I just reduce my coverage with the intent of lowering the premium. I insure eight vehicles. I carry just liability on the daily drivers and don't worry about comprehensive and collision. I do carry comprehensive only on the Vettes without collision (State Farm lets me do this whereas many other insurance companies won't let you carry one without the other). Let's me supposedly cover the Vettes if they are stolen or damaged while not being driven (exclusions apply). If I'm in an accident and it's my fault, then it's on me and I'll eat the loss. If it's the other guys fault he pays or uninsured PD/liability coverage pays minus my deductible. Makes my premium very manageable, and makes me a careful driver as well.
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MikeERWNC

Some thing to consider with Amica's first year, new insurer quote, Amica is Mutual insurance. You are more a member than a customer.

Also - One thing to hate State Farm for, they buy Laser and RADAR guns for law enforcement, so that they can get more reasons to raise your rates.

Kevin A Jones

Good thing most regulars on this forum know by now never to take any advise from you. Hopefully newbies here will learn fast.

AORoads

I believe you're thinking of Geico. They have done that for over 20 years.

jcp911s

I've had Erie in PA (suburban Philly) for 30 years. They are excellent, and my premium on a 2016 C7 was about $1k/yr. Wife's BMW and my dogsh*t '98 Ford F250 about the same. I pretty much max out on liability ($500K per incident) as I have assets to protect. This is the big cost, as PI attorneys make most of their money on car claims, so under-insuring here is just plain stupid. Collision, Comp, Uninsured, etc is really minimal... skimping here will only save a couple hundred a year.

IMHO, anybody who drives a car, and is not insured for a "worst case" scenario just to save $300/yr is an idiot... thats why its called "insurance"

I also had 4 collector cars with American Modern, and total premiums for all 4 were $900/yr... declared value and max liability. Very cheap1