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Who is your insurance company?

Discussion in 'In the Office' started by Silveroddo, Jan 26, 2021.

  1. Silveroddo

    Silveroddo Well-Known Member

    Joined:
    Jun 23, 2010
    Messages:
    243
    Location:
    Northern MN
    Hey there, I'm trying to shop my insurance policy a little bit and my local agents only seem to be able to quote me one company, General Casualty out of WI. I've been with them for 10+ years, but as of late they've subbed out their billing to a third party and its been a real PITA on occasion. Being as I've been with them for this long part of me just wants to compare rates, the work I do is primarily contracted municipal road maintenance, I'm a sole proprietor with no employees so I'm not carrying comp and I haven't had a claim in 10 years. That being said, who is everyone actually covered through?
     
  2. AzIron

    AzIron Senior Member

    Joined:
    Jun 15, 2016
    Messages:
    1,024
    Location:
    Az
    Last year 4 different companies carried all our insurance through 1 broker after the last 2 years in this market if you have something that works and is affordable I wouldn't change
     
  3. suladas

    suladas Senior Member

    Joined:
    Jun 30, 2016
    Messages:
    865
    Location:
    Canada
    I'm in Canada so the actual company won't apply but I would absolutely shop around. I've been with the same broker over 10 year and they've gotten very lazy they won't even shop prices around unless I ask and just shrug their shoulders when I ask why rates went up so much. This year my vehicle premiums doubled without an explanation so I shopped around myself and found rates about 10% lower then what I was paying last year so more then cut my premiums in half and it's better coverage then I currently have. Waiting to hear on the liablity premiums but i'm sure it's better, 3 years in a row it keeps going up by like 15%.
     
  4. NepeanGC

    NepeanGC Well-Known Member

    Joined:
    Mar 19, 2017
    Messages:
    129
    Occupation:
    #dirtherder
    Location:
    Ottawa, Ontario
    That's my experience as well. Only way to get them to be competitive is shop them around. My previous brokerage was being lazy and unresponsive. I shopped the policies around and like you, got more coverage, for less money, even after I added another 2 vehicles to the fleet.
     
    old-iron-habit likes this.
  5. grandpa

    grandpa Senior Member

    Joined:
    Oct 16, 2009
    Messages:
    1,839
    Location:
    northern minnesota
    Im using Federated at the present, but I let them know I shop around about every four years.
     
  6. DMiller

    DMiller Senior Member

    Joined:
    Feb 22, 2010
    Messages:
    9,956
    Occupation:
    Almost Retired
    Location:
    Hermann, Missouri
    I am with Farm bureau here not certain will be available there, as with the others best option shop around and check on ratings as to users responses.
     
  7. Paul Council

    Paul Council Senior Member

    Joined:
    Oct 12, 2018
    Messages:
    587
    Location:
    Somewhere
    I would definitely shop around. I don't insure equipment, but my home and auto kept going up without explanation. Finally I got fed up and started shopping around and eventually cut my rates in half. I tried to get them to match but they didn't care if I stayed or left. Even after 10 years of paying on time and no claims. The beauty of it was my renewal was coming up and also I needed a new roof and siding. So I hit them with a 25k claim and when that was settled I dropped them like bad habit. With my premium being paid already and the new lower rate I got a check for 5k. The thing I learned from this is you have to shop around to keep them competitive. Chances are you are paying half as much more than you should.
     
    mg2361 and DMiller like this.