Also, what about the dreaded E&O when the customer has a bad accident and finds out they don’t have enough or proper coverage? With an agent, they have someone to blame. When they input all the fields themselves, …..
What about the dreaded E&O? You think the agency’s E&O carrier is going to lay down? No, they’ll fight it. Ultimately the decision to buy lower limits is always going to fall on the insured, regardless of whether E&O is involved. Furthermore, this ridiculous argument rests on the premise that auto insurance is complicated, and that auto insurance buyers are mindless goons with no access to Google.
Just another scuzzy sales tactic from the plaid blazer Trusted Choice crowd.
In today’s society in the USA, more and more people are not taking responsibility for their actions and looking for someone to sue when something goes wrong. How many absurd lawsuits have we read about in IJ just this year? That is my point.
Herb, are you going stating that the average person knows what uninsured or underinsured motorists coverage is and if they need it, or need it stacked? Do they know the difference between standard and non-standard auto companies and which is better in the long run? Is determining your Liability limit simply from using what they have now the best way?
Why don’t you go build yourself a house or a boat or a car? It doesn’t seem that hard to do.
Most times professional advice is needed, no matter what field you are in.
For the on-line shoppers good luck on the level of knowledge you receive from the one advising you, relationship with the insurance producer (If one helped you, the same one will probably not help you the next time)advocacy, pricing with appropriate coverage, and choice of companies. For those shopping and buying on-line there should be a requirement that the words “Buyer Beware” appear on the transaction.
One in four = 25% of buyers shopped
80% of 25% = 20% were looking for a better price
33% of 25% = 8.25% changed carriers
How many shoppers completed the screens accurately?
How many found a better price?
How many bought online?
How many found a better value because they spoke to an insurance professional?
Of course we change because we HAVE to keep up with the insurance companies tactics and increasing premiums DESPITE an EXCELLENT driving record- no accidents, no parking tickets, no speeding tickets etc. THEY DO NOT CARE! So, just like house insurance, you HAVE to shop around to find the best deals every few years! There is NO such thing as loyalty for insurance companies. You could be with them for 50 years and they don’t care! Also, GOD FORBID that you EVER have a claim, even if it’s not your fault, get that checkbook out and pay, pay, pay! A claim is a claim! Never mind the thousands that they made from you all those decades!
We’ll NEVER win! We STILL have people here in CT who are still fighting hurricane damage from a few years ago! Their houses are battered and leaning IF they are there at all and didn’t get washed into Long Island Sound! Doesn’t matter that they had flood insurance, hurricane insurance, flood insurance etc.
Robert, I don’t disagree that shopping is a good idea. Different insurance companies price certain risk classes differently and you need to find the one that suits you. But if you think that insurance rates decrease over time then you’ve been misled. You need to voice your discontent to body shops, car part manufacturers, the medical community, and attorneys. When their rates start decreasing you’ll see your insurance rates decrease. Insurance can’t be mass produced on a Chinese assembly line like an I-Phone. But I guess the insurance company is an easy target – Sort of a one stop shop for everything that’s wrong in this world.
Robert – you do understand that rates are determined by many factors, and even if you are claim free your rates could go up – right? Your premiums are paying the claims of others, just as their premiums pay a part of your claim when you have one. I am not certain, but I have a suspicion that medical costs have increased over the years. As well as the cost of automobile repairs, and darn it – just about everything has gone up.
I can highly recommend State Farm, Farmers, Allstate, AAA & GEICO. I have heard their rates NEVER go up. I am sure that all of those direct carriers would welcome you as a client; I know that with your attitude I don’t want you as a client. Best of luck to you.
alan- Geico and Allstate are both raising premiums and are filing rate increases for 2016. As bodily injury claims increase and material damage costs increase they have to keep up. Especially Allstate whom is a publically traded company and even though they had profit in Q1 2015 it’s not enough. They’d rather raise rates and make more money! Most companies would rather raise rates, and grow premium rather than sell more policies. This is the disconnect between product and sales.
Those of us who want our clients to be protected in the event of a catastrophic event that could lead to financial ruin, realize that not everyone understands the best way to buy insurance; namely have the coverage you need and lower the cost by increasing deductibles. Instead of shopping online for price, people should make sure that the coverage they choose is enough to pay a catastrophic claim, without attorneys attaching their assets and wages if there is a shortfall.
First off, I was assuming that those shopping on line for insurance were educated consumers. I never should have assumed that! I don’t agree with ME paying for accidents that drunks, druggies, the Hollywood elite, those who chooses to live 2 feet from the water or on the edge of a cliff or in a fire zone or in tornado alley etc. You want to assume those risks, then YOU pay your policy rates and NOT ME!
Then there is so much that goes on with insurance companies wasting money for their private parties like AIG and Greenberg! We’ll never win. We need insurance and we have to pay UNLESS the state insurance commissioners do their job and MAKE SURE that rates increases are legit! They claim that they don’t have enough actuaries, so they probably just approve the rate increases without checking a thing!
You apparently haven’t been reading IJ long. I lost count of the number of articles about DOIs not allowing increases for personal insurance products. Not sure where you get the idea that rates aren’t being reviewed.
I got the information from an article about the insurance commissioner’s office and the shortage of help in their office because of all the cuts made by our infamous governor.
You can almost always find a better price, especially if you’re not insurance savvy. Lower coverage offers, lower rated carriers…
Also, what about the dreaded E&O when the customer has a bad accident and finds out they don’t have enough or proper coverage? With an agent, they have someone to blame. When they input all the fields themselves, …..
What about the dreaded E&O? You think the agency’s E&O carrier is going to lay down? No, they’ll fight it. Ultimately the decision to buy lower limits is always going to fall on the insured, regardless of whether E&O is involved. Furthermore, this ridiculous argument rests on the premise that auto insurance is complicated, and that auto insurance buyers are mindless goons with no access to Google.
Just another scuzzy sales tactic from the plaid blazer Trusted Choice crowd.
In today’s society in the USA, more and more people are not taking responsibility for their actions and looking for someone to sue when something goes wrong. How many absurd lawsuits have we read about in IJ just this year? That is my point.
Herb, are you going stating that the average person knows what uninsured or underinsured motorists coverage is and if they need it, or need it stacked? Do they know the difference between standard and non-standard auto companies and which is better in the long run? Is determining your Liability limit simply from using what they have now the best way?
Why don’t you go build yourself a house or a boat or a car? It doesn’t seem that hard to do.
Most times professional advice is needed, no matter what field you are in.
For the on-line shoppers good luck on the level of knowledge you receive from the one advising you, relationship with the insurance producer (If one helped you, the same one will probably not help you the next time)advocacy, pricing with appropriate coverage, and choice of companies. For those shopping and buying on-line there should be a requirement that the words “Buyer Beware” appear on the transaction.
One in four = 25% of buyers shopped
80% of 25% = 20% were looking for a better price
33% of 25% = 8.25% changed carriers
How many shoppers completed the screens accurately?
How many found a better price?
How many bought online?
How many found a better value because they spoke to an insurance professional?
Of course we change because we HAVE to keep up with the insurance companies tactics and increasing premiums DESPITE an EXCELLENT driving record- no accidents, no parking tickets, no speeding tickets etc. THEY DO NOT CARE! So, just like house insurance, you HAVE to shop around to find the best deals every few years! There is NO such thing as loyalty for insurance companies. You could be with them for 50 years and they don’t care! Also, GOD FORBID that you EVER have a claim, even if it’s not your fault, get that checkbook out and pay, pay, pay! A claim is a claim! Never mind the thousands that they made from you all those decades!
We’ll NEVER win! We STILL have people here in CT who are still fighting hurricane damage from a few years ago! Their houses are battered and leaning IF they are there at all and didn’t get washed into Long Island Sound! Doesn’t matter that they had flood insurance, hurricane insurance, flood insurance etc.
Robert, I don’t disagree that shopping is a good idea. Different insurance companies price certain risk classes differently and you need to find the one that suits you. But if you think that insurance rates decrease over time then you’ve been misled. You need to voice your discontent to body shops, car part manufacturers, the medical community, and attorneys. When their rates start decreasing you’ll see your insurance rates decrease. Insurance can’t be mass produced on a Chinese assembly line like an I-Phone. But I guess the insurance company is an easy target – Sort of a one stop shop for everything that’s wrong in this world.
Robert – you do understand that rates are determined by many factors, and even if you are claim free your rates could go up – right? Your premiums are paying the claims of others, just as their premiums pay a part of your claim when you have one. I am not certain, but I have a suspicion that medical costs have increased over the years. As well as the cost of automobile repairs, and darn it – just about everything has gone up.
I can highly recommend State Farm, Farmers, Allstate, AAA & GEICO. I have heard their rates NEVER go up. I am sure that all of those direct carriers would welcome you as a client; I know that with your attitude I don’t want you as a client. Best of luck to you.
alan- Geico and Allstate are both raising premiums and are filing rate increases for 2016. As bodily injury claims increase and material damage costs increase they have to keep up. Especially Allstate whom is a publically traded company and even though they had profit in Q1 2015 it’s not enough. They’d rather raise rates and make more money! Most companies would rather raise rates, and grow premium rather than sell more policies. This is the disconnect between product and sales.
Those of us who want our clients to be protected in the event of a catastrophic event that could lead to financial ruin, realize that not everyone understands the best way to buy insurance; namely have the coverage you need and lower the cost by increasing deductibles. Instead of shopping online for price, people should make sure that the coverage they choose is enough to pay a catastrophic claim, without attorneys attaching their assets and wages if there is a shortfall.
First off, I was assuming that those shopping on line for insurance were educated consumers. I never should have assumed that! I don’t agree with ME paying for accidents that drunks, druggies, the Hollywood elite, those who chooses to live 2 feet from the water or on the edge of a cliff or in a fire zone or in tornado alley etc. You want to assume those risks, then YOU pay your policy rates and NOT ME!
Then there is so much that goes on with insurance companies wasting money for their private parties like AIG and Greenberg! We’ll never win. We need insurance and we have to pay UNLESS the state insurance commissioners do their job and MAKE SURE that rates increases are legit! They claim that they don’t have enough actuaries, so they probably just approve the rate increases without checking a thing!
You apparently haven’t been reading IJ long. I lost count of the number of articles about DOIs not allowing increases for personal insurance products. Not sure where you get the idea that rates aren’t being reviewed.
I got the information from an article about the insurance commissioner’s office and the shortage of help in their office because of all the cuts made by our infamous governor.
Agent is dumb.