Insurance? Anyone?

[DangerSeeker]

Who here has auto insurance? Probably most of us, eh? Well, I just recently purchased a new ('95 actually) vehicle, and it has been some time since I had a vehicle in my name. Long story short, I filed for bankrupcy (Ch7) at the end of last year, and have been rebuilding from the ground up.

Well, with a clean driving record for 3 years, a check on my license, and a credit check (showing the bankrupcy and previous debts), the rates I was quoted for full coverage, 6mo premium, ranged from $450-650. About what I was expecting.

BUT, this didn't hold with a single company...and I would like to add that this was the best policy available, with $100 & $200 comprehensive and collision deductable.

After each insurance company was contacted to finalize the deal, they THEN asked me for my current/previous carrier. Well, after finding the gap of about 6 months, things went through the roof. This explains why some of the other online quotes where so high (over $1k), as those companies asked about my current carrier prior to an estimate.

So, back to the point...with a gap in my insurance, the rates went up to $1200-1500 for a 6mo prem!!! And coverage dropped to a minimum, along with the deductable rising to the top ($500).

So, insuance being required by law, I am being legally forced to get butt-r@ped. Anyone else find this insane that the mere fact I didn't have insurance (no vehicle neither...was mighty ruff getting around, but I did manage). How can this difference be justified!?! Okay, a small increase due to the fact they might consider me a bit rusty not have driven for 6 months...but that big a difference! I will be happy when they all...well, read my thoughts, cuz I sure as heck ain't writing them.

I finally had to shell out $900 after a week of searching like a mad man, and my new ride just sitting, for a 6mo policy. I hope you bastards [insurance co.] burn hard. I do not see any justification for this kind of consumer rape.

LESSON OF TODAY'S STORY: IF FOR ANY REASON you become vehicle less, keep some sort of auto/driving insurance, because they will more than make up the money they consider lost due to you not paying them for any length of time. I was saving every dang penny...but it proved to bite me in the ars.

[NeoStarO1]

I am not sure who your insurance comapny you ended up deciding with, however check out American Family Insurance, they were able to beat all quotes that I had recieved, my prior insurance paid in full for one year tried to renew my policy for one year for 1400 dollars and I said NO WAY! Checked around and that same company came back and said we can do it for 840 for 6months and I said forget it. I kept checking around and finally found with American Family Insurance for 540 for 1 year. With 100/100 deductiable.

I did try those online quotes and i couldn't get it down below 800 a year online so I started checking iwth family and friends of what thier rates were like and ended up contacting one of my friends insurance company and got a way good deal. I am quite happy wiht my new insurance now.

So it does pay to check around.

Edit: Oh ya forgot to mention that with my prior insurance I had been with the agent for 4 years and she kept telling me "Trust Me" You won't find lower rates. ya right

Don't trust your agent allways check around yourself.

[Aero]

I had a similar experience several years ago...

I live in a small town and at that time was living quite close to my workplace and all the other necessary places I needed to go.
So, I dropped my insurance for awhile and just walked or biked to where I needed to go.

Then, when I went to get re-insured they put me on "risk" insurance and charged me $420.00 for 3 months of coverage.
And I had a flawless record with no accidents or tickets of any sort...

Even when I told them that, they would not bend. Their policy was that if you're uninsured for any amount of time- you're automatically on "risk".

So, I paid for 3 months of coverage and then switched to another company (State Farm). They didn't seem to mind that I was uninsured for awhile, and since I had a current carrier they gave me a MUCH lower rate.

Might be worth a try...

[SickPup404]

Yup! Somthing similar happened to me. My agent asked why I was dropping when I called and he told me to keep insurance cause I'd get screwed BIG TIME when it came to getting it again.... Paid for insurance on a totaled car for 8 months....

[DangerSeeker]

I will most definately switch companies when this current 6mo policy is up, as I should no longer be in the "Super Ultra Monster High Risk" for not having insurance for many of the previous companies. American was one of the companies that was over $1400, up there with Rodney D. Young, Aflac, Yellow Key...if they advertise on TV a ton, yer gonna pay for the ads...or so it seems.

Still blows my mind...there are laws that prevent any other such consumer rapage, but they don't seem to apply to insurance.

[jman01pa]

Yea, I got ripped too. When I lived in Pennsylvania, I was paying 325.00 for 6 months coverage on my 2001 S-10 4x4.

I checked with every insurance company i could find everywhere. The absolute best price ended up being with State Farm at $750.00 for 6 months

The worst part about it is that Insurance companies here in KY run credit reports. They base your rates on your credit. Plus, I had almost a dozen inquiry's on my report and they lower your rating by like 5 points an inquiry.

What can we do?


J

[Ritalin Kid]

When TN passed the new Insurance Law I searched around for Liability only and found some places like Progressive wanted $1300 a year or $680 for 6 mo. but then I called Geico Direct and they only charge me $380 for Liability on two vehicles per 6 mo. a continued to be the cheapest avail.

Warning though.. I;ve had friends who decided to carry Full Coverage with Geico and when it came time for Geico to pay out the comprehensive for the damages they payed for the person he hit but he had to fight tooth and nail to get the money to fix his car.. so I guess their rates are low because they do their best to rip off the Comprehensive consumers.

[DangerSeeker]

Geico...that's the name that escaped me. They must have lost a few lawsuits due to things of the sort, as they were the most expensive...the only ones to break $1500 for 6mo!

All cuz I didn't have insurance while I didn't have a vehicle...